The following data is specified in a supply chain contract. P = 68, LMin = 6, QMin = 300, Alpha= 0.05 and Beta = 2000. The mean demand is 852 units/week and the mean supply lead time is 3 weeks. If WT=WO=0.5, what is the supply chain flexibility?
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?One of your Taiwanese suppliers has bid on a new line of molded plastic parts that is currently being assembled at your plant. The supplier has bid $0.10 per part, given a forecast you provided of 400,000 parts in one year1. 500,000 in year 2; 700,000 in year 3. shipping and handling of parts from the supplier’s factory is estimated at $0.01 per unit. Additional inventory handling charges should amount to $0.006 per unit. Finally, administrative costs are estimated at $30 per month. Although your plant can continue producing the part, the plant would need to invest in another molding machine, which would cost $20,000. Direct materials can be purchased for $0.06 per unit. Direct labor is estimated at $0.05 per unit plus a 50% surcharge for benefits and, indirect labor is estimated at $0.008 per unit plus 50% benefit. Up-front engineering and design costs will amount to $40,000. Finally, management has insisted that overhead be allocated if the parts are made in-house at a rate of 100%…
- Consider the supply chain illustrated below: Last year, the retailer’s weekly variance of demand was 200 units. The variance of orders was 500, 600, 750, and 1,350 units for the retailer, wholesaler, distributor, and manufacturer, respectively. (Note that the variance of orders equals the variance of demand for that firm’s supplier.) a) Calculate the bullwhip measure for the retailer. b) Calculate the bullwhip measure for the wholesaler. c) Calculate the bullwhip measure for the distributor. d) Calculate the bullwhip measure for the manufacturer. e) Which firm appears to be contributing the most to the bullwhip effect in this supply chain?Bizsupply, a manufacturer of office supplies, ended the current year with annual sales (at cost) of $68 million. During the year, the inventory of accessories turned over eight times. For the next year, Bizsupply plans to increase annual sales (at cost) by 25 percent. What inventory turns must Bizsupply achieve if, through better supply chain management, it wants to support next year's sales with no increase in the average aggregate inventory value? (Enter your response rounded to the nearest whole number.)Consider the supply chain illustrated below: Manufacturer Distributor Wholesaler Retailer Last year the retailer's weekly variance of demand was 190 units. The variance of orders was 490, 610, 730, and 1,320 units, for the retailer, wholesaler, distributor, and manufacturer, respectively. (Note that the variance of orders equals the variance of demand for that firm's supplier.) a) The bullwhip measure for the retailer is decimal places.) b) The bullwhip measure for the wholesaler is two decimal places.) (Enter your response rounded to two (Enter your response rounded to c) The bullwhip measure for the distributor is ☐. (Enter your response rounded to two decimal places.) d) The bullwhip measure for the manufacturer is two decimal places.) e) In this supply chain, the bullwhip effect. (Enter your response rounded to appears to be contributing the most to the
- When all the different stages of a supply chain work toward the objective of maximizing total supply chain profitability, rather than each stage devoting itself to its own profitability without considering total supply chain profit, it is known as Select one: revenue management. supply chain coordination. forecasting. aggregate planning.Madonna’s Burgers is considering making hamburger buns in-house instead of buying them from its supplier. It has estimated the fixed costs for a used over to be $7,000 and the variable costs for the buns to be $0.25. It purchases buns for $0.50 each, and there are no fixed purchase costs. Its annual demand for buns is forecasted to be 15,000. Madonna’s wants to know how many buns it has to make to break even.Inventory Management You are the store manager at a local branch of DigiLife, a large electronics retail chain. A new version of a popular consumer electronics device called the Amulet is coming out this year. It is your job to sell as many Amulets as you can while minimizing your costs in order to maximize your store's profits. Your Goal Earn $1,000,000 in net profits of Amulet sales.
- As manager of the St. Cloud Theatre Company, you have decided that concession sales will support themselves. The following table provides the information you have been able to put together thus far: Item Soft Drink Wine Coffee Candy Selling Price $1.00 $2.00 $1.00 $0.75 Variable Cost $0.65 $0.90 $0.30 $0.25 % of Revenue 25 24 31 20 Last year's manager, Scott Ellis, has advised you to be sure to add 10% of variable cost as a waste allowance for all categories. You estimate labor cost to be $300.00 (5 booths with 2 people each). Even if nothing is sold, your labor cost will be $300.00, so you decide to consider this a fixed cost. Booth rental, which is a contractual cost at $60.00 for each booth per night, is also a fixed cost. a) Based on the information available, the per night break-even point in dollars for the St. Cloud Theatre Company = $ 1138.92 (round your response to two decimal places). b) Based on the given information, the per night break-even point in servings for wine =…As manager of the St. Cloud Theatre Company, you have decided that concession sales will support themselves. The following table provides the information you have been able to put together thus far: Item Soft Drink Wine Coffee Candy Selling Price $1.00 $2.00 $1.50 $1.00 Variable Cost $0.65 $0.90 $0.30 $0.25 % of Revenue 25 26 30 19 Last year's manager, Scott Ellis, has advised you to be sure to add 10% of variable cost as a waste allowance for all categories. You estimate labor cost to be $300.00 (5 booths with 2 people each). Even if nothing is sold, your labor cost will be $300.00, so you decide to consider this a fixed cost. Booth rental, which is a contractual cost at $50.00 for each booth per night, is also a fixed cost. a) Based on the information available, the per night break-even point in dollars for the St. Cloud Theatre Company = $957.69 (round your response to two decimal places). b) Based on the given information, the per night break-even point in servings for wine =…Green Gardens' owner has asked your advice about a possible problem at his business. Over the last 6 months the large-sized lawn and garden inventory (ie, tables, chairs, planters, etc.) has appeared to be short. The inventory records that employees use to determine what is on hand show that more inventory is available than can actually be located. This has cause frustration and mis-trust in the inventory records for the sales employees. The owner realizes that the problem is bigger than just frustrated employees. He is afraid that inventory is being stolen, a problem he didn't think possible given that these are large items that are not easily moved. Requirements: Provide the owner with two internal controls that he could implement to reduce the likelihood of theft of the lawn and garden inventory.