Which of the following is NOT one of the major causes of the bullwhip effect? A. demand forecast errors B. price fluctuations C. shared demand information D. order batching
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Q: (i) MAD (ii) MAPD (iii) RSFE
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Q: 45 & 46
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- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.The ranking of items in ABC inventory analysis is based on O a. unit price b. C. alphabetical order d. item number e. annual dollar usage annual demand in unitsABC Company placed an order on December 1. It normally receives the order after 9 days. If the company has a normal usage of 10 units per day. What is the re-order point?
- Among the following multi-period inventory models, which one has the highest probability of stockout? A. Fixed Order Quantity with Safety Stock B. Fixed Time Period Model C. Fixed Order Quantity D. Both Fixed Order Quantity & Fixed Order Quantity with Safety StockCompany B sold 50% of the 5,000 items that it carried last week. There were 500 items for which some demand was not satisfied. What is the stockout probability for last week? A) 10% B) 50% C) 85% D) 28%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.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 bull-whip effect in this supplychain?
- “The ABC Supply company is currently experiencing with an inventory rotation problem. This difficulty stems from the fact that some supplies must be used prior to a stated expiration date. Upon receipt, a new shipment of these perishable items must be stacked beneath the boxes that are currently in inventory. A substantial amount of time is consumed in restacking the items according to their expiration dates.” Required: Explain the DMAIC methodology that can be used by the “ABC” company to implement Six Sigma Process for the above scenario. 800 words“The ABC Supply company is currently experiencing with an inventory rotation problem. This difficulty stems from the fact that some supplies must be used prior to a stated expiration date. Upon receipt, a new shipment of these perishable items must be stacked beneath the boxes that are currently in inventory. A substantial amount of time is consumed in restacking the items according to their expiration dates.” Required: Explain the DMAIC methodology that can be used by the “ABC” company to implement Six Sigma Process for the above scenario.If the company in #8 uses exponential smoothing (smoothing factor = .6) and the forecast for the year is the figure they use for EOQ calculations, calculate the EOQ using the following information: The cost of ordering and carrying cost % are the same as #7 Cost of ordering: $25 Carrying costs: 45% Starting with 2018, Forecast the 2020 demand using exponential smoothing and then use that forecast as the annual demand. year sales 2017 1,000,000 2018 1,200,000 2019 2,000,000 2020
- A spice retailer has a lead time of 4 weeks from its supplier of a particular item and the retailer orders every week. Average weekly demand is normally distributed with a mean of 40 units and standard deviation of 30 units. a) If it uses an order-up-to level of 301 units, what is its expected ON-HAND inventory? b) If it uses an order-up-to level of 250 units, what is its expected ON-ORDER inventory? c) If it uses an order-up-to-level of 368 units, what is its in-stock probability? d) For a .96 in-stock probability, what should its order=up-to level be?Investigate how demand variability affects the overall effectiveness of the Wilson approach in inventory management.The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in producing billiard balls. She knows that manufacturing uses resin at a rate of 50 kilograms each day, and that it costs $.04 per day to carry a kilogram of resin in inventory. She also knows that the order costs for resin are $100 per order, and that the lead time for delivery is four days. If the order size was 1,000 kilograms of resin, what would be the average inventory level?