EBK BUSINESS ANALYTICS
3rd Edition
ISBN: 9780135231906
Author: Evans
Publisher: VST
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Textbook Question
Chapter 2, Problem 5PE
Convert the Purchase Orders database to an Excel table. Use the techniques described in Example 2.4 to find:
- the total cost of all orders.
- the total quantity of airframe fasteners purchased.
- the total cost of all orders placed with Manley Valve.
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Students have asked these similar questions
20.
Identifying true or false:
I - Just-in-time purchasing is guided solely by the economic order quantity.
II - Companies that implement JIT purchasing will switch their suppliers when another supplier offers alower price.
III - Just-in-time purchasing describes the flow of goods, services, and information from the initial sourcesof materials and services to the delivery of products to consumers, regardless of whether those activities occur in the same organization or in other organizations
Group of answer choices
All are false.
T, T, F
F, F, T
All are true
T, F, T
Determine an A-B-C classification for these items:
Which items are A, B, and C - explain how you derive the answers? Use a table or excel spreadsheet to illustrate your work.
Item Unit Cost Annual Volume (000)1 300 252 90 303 30 604 50 105 15 706 100 407 10 60
Hint:Determine the Annual Dollar Value (Unit Cost * Annual Volume) for each item and the sum of the individual Annual Dollar Values. Arrange the items in descending order based on Annual Dollar Values. Then, determine the percentage of items and the percentage of…
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10/31/20, 5:53 PM
Exercise 2: ABC analysis
Perform an ABC analysis on the foilowing set of products.
Annual
Item
Demand
Unit Cost
A211
1200
$9
$90
$6
$150
$2000
$120
$90
B390
100
C003
4500
D100
400
E707
35
F660
250
G473
1000
H921
100
$75
LUILOANS
ICES
Chapter 2 Solutions
EBK BUSINESS ANALYTICS
Ch. 2 - The Excel file Syringe Samples provides data for...Ch. 2 - Convert the Store and Regional Sales database to...Ch. 2 - Convert the Purchase Orders database to an Excel...Ch. 2 - Prob. 6PECh. 2 - Prob. 8PECh. 2 - In the Excel file Automobile Quality, search for...Ch. 2 - Prob. 10PECh. 2 - Conduct a Pareto analysis for the number of...Ch. 2 - Use Excels filtering capability in the Purchase...Ch. 2 - In the Sales Transactions database, use Excels...
Ch. 2 - Filter the data in the Bicycle Inventory database...Ch. 2 - Use the Excel file Credit Risk Data that was...Ch. 2 - Apply the Advanced Filter to the Credit Risk Data...Ch. 2 - Prob. 17PECh. 2 - For the Bicycle Inventory database, use database...Ch. 2 - For the Bicycle Inventory database, write a...Ch. 2 - The Excel file SP500 provides open, high, low, and...Ch. 2 - In the Purchase Orders database, we need to find...Ch. 2 - An auditor found an expense receipt for 179.24...Ch. 2 - Use PivotTables to find the number of sales...
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- Consider the following information. PART X Gross Requirements Scheduled Receipts Projected On-Hand Inventory 100 Q = 60, LT= 3 weeks, Safety Stock = 5 1 70 70 PART X Gross Requirements Scheduled Receipts Projected On-Hand Inventory 100 Planned Order Releases 1 70 70 100 2 0 > X WEEK 3 40 Compute the planned order releases and projected on-hand inventory for component part X. Round your answers to the nearest whole number. If your answer is zero, enter "0". 2 0 4 0 100 WEEK 3 40 5 160 60 4 0 40 0 X 5 160 Check My Work -60 0arrow_forwardYou are the executive chef at a large wedding facility, and a wedding with a confirmed count of 168 is scheduled for tomorrow at noon. Everything has been ordered except the shrimp, which was missing from the last purchase order. It will have to be a last-minute rush order, and only one supplier can get it to you in time. The purchase order will be for frozen raw, U 16-20, shrimp peeled, de-veined, tail-on, in 5-pound boxes (according to your spec for the product). You’ve dealt with this supplier before, and made a note to yourself on the jumbo shrimp spec that this vendor’s product averages 19 to 20 shrimp per pound and has a 96% yield. Catering policy dictates that a 10% buffer be provided for unexpected guests, and the catering menu states that 5 shrimp are to be served per person. If you have 4 pounds of good jumbo shrimp on hand, how much will you order for the wedding? Will there be any leftover product? How much?arrow_forwardSelect choice that states the strengths and weaknesses of the visual-fit methods. OA The visual-fit method is easy to apply and illustrates mathematically how a change in a cost driver can change total cost. However, the time it takes to collect the data is cumbersome and therefore not a very popular method. OB. The visual-fit method does not require many data points to determine the results. However, it is not reliable because it does not use all of the available data making the margin of error greater. OC. The visual-fit method uses all the available and relevant data. However, it may not be reliable since it relies on the analyst's judgment on where to place the line OD. The visual-fit method does not require statistical sophistication in analyzing the data results. However, the method is not used as often because it makes irrelevant data relev relevant, and in turn skewing the data.arrow_forward
- 27) Ali has a restaurant where the customers use a different number of disposable cups each day he is open. Every 30 days, Ali places an order to replenish his cup inventory. It takes 3 days for the order to arrive, at which point it brings the inventory level up to 4000 cups. It costs Ali $30 to have the order processed. Select all statements that apply to Ali's situation: Group of answer choices a) Ali uses a Continuous Inventory System b) d is constant c) Ali uses a Periodic Inventory System d) Ali uses a Fixed-Order-Quantity Inventory System e) Maximum Inventory Level is constantarrow_forward6. The demand for a particular part called SKU 005 is 1,500 units a year. The cost of one SKU 005 is $40.00. It costs $50.00 to place an order for SKU 005, and the user of SKU 005 has a per year inventory carrying cost of 25% of unit cost. Assume 250 working days in the year where SKU 005 is used. (Noteshaper: Scenario #26) а. What is the combined annual holding and ordering cost of an order size of 200 units for SKU 005? b. How many of SKU 005 should be ordered, to minimize combined ordering and holding costs? c. The vendor who sells SKU 005 has just offered a 5% discount for orders of 500 or more. Now how many should be ordered? d. Once the purchasing manager for SKU 005 places an order, the vendor requires 7 working days to deliver that order. What should be the purchasing manager's reorder point?arrow_forwardHazardous Household Product Inventory Complete the information in the dummy table provided below. List at least 10 products. Make sure to specify all the data entries in the column headings. Product Directions for use Storage Location in Home 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.arrow_forward
- How to manage a order when there is lack of team members in the order management and order need to be fulfilled in short span of time in the following situations :- I) When Delivery team missing II) When Packaging Team missing III) When Billing Team missing (Answer in points only ) upvote for quality answerarrow_forwardGreen 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.arrow_forwardWhich of the following is not an acceptable method of applying the LCNRV? Select one: a. Group inventory items b. Individual item c. Total of the inventory d. Inventory locationarrow_forward
- Black Instrument Company replenishes highly specialized replacement (service) parts based on statistical reorder point. One part is a 40-mm thumbscrew. Relevant data for the thumbscrew are: Planned stock out frequency= Six per year. Planned lead time = 2 weeks Forecast for next week= 300 Batch size = 400 Standard deviation of demand = 20 (per week) What is the reorder point? What would be the effect on the ROP if lead time were five weeks instead of two? What other factors might impact your decision on when to reorder parts?arrow_forwardConsider the following information. PART X Gross Requirements Scheduled Receipts Projected On-Hand Inventory 130 Q-60, LT-3 weeks, Safety Stock - 20 Compute the planned order releases and projected on-hand inventory for component part X. Round your answers to the nearest whole number. If your answer is zero, enter "0". PART X Gross Requirements Scheduled Receipts Projected On-Hand Inventory 130 Planned Order Releases 1 50 50 1 50 130 0 2 0 WEEK 3 70 99 2 0 130 120 ®® 4 0 WEEK 3 70 30 0 5 130 x 4 0 30 5 130 20 0arrow_forwardSuppose that a large discount retailer with a lot of purchasing power in a supply chain requires that all suppliers incorporate a new information system that will reduce the cost of placing orders between the retailer and its suppliers as well as between the suppliers and their suppliers. Suppose also that order quantities and lead times are related; the smaller the order quantity the shorter the lead time from suppliers. Assume that all members of the supply chain use a continuous review system and EOQ order quantities. Explain the implications of the new information system for the supply chain in general and the inventory systems of the supply chain members in particular.arrow_forward
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