Calculate optimal order quantity based on the quantity discount information.
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Q: Calculate the annual economic order quantity from the information provided below.
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- Calculate optimal order quantity based on the quantity discount information.
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- ABC Company sells a number of products to many restaurants. One product is a special meat cutter with a disposable blade. Blades are sold in a package of P12 at P20 per package. It has ben determined that the demand for the replacement blades is at constant rate of P2,000 packages per month. The packages cost the company P10 each from the manufacturer. The ordering cost is P1.20 per order, and the carrying costs is 10% per year. Compute the Economic Order Quantity.MGR Corporation sells table napkins. These are sold by dozen per package for Php 20. They sell 2,000 packages per month. Each package sells at Php 10 and requires 6 days lead time from date of order to date of delivery. The ordering cost is at Php 1.20 and the carrying cost is 10% per annum. a. Assuming that the present inventory level is 200 packages and there is no safety stock, when is the next order placed (use 360 days/year)Zhou Bicycle Company (ZBC), located in Seattle, is a wholesale distributor of bicycles and bicycle parts. Formed in 1981 by University of Washington Professor Yong-Pin Zhou, the firm’s primary retail outlets are located within a 400-mile radius of the distribution center. These retail outlets receive the order from ZBC within 2 days after notifying the distribution center, provided that the stock is available. However, if an order is not fulfilled by the company, no backorder is placed; the retailers arrange to get their shipment from other distributors, and ZBC loses that amount of business. The company distributes a wide variety of bicycles. The most popular model, and the major source of revenue to the company, is the AirWing. ZBC receives all the models from a single manufacturer in China, and shipment takes as long as 4 weeks from the time an order is placed. With the cost of communication, paperwork, and customs clearance included, ZBC estimates that each time an…
- Lumumba Carpet Discount Store sells Super Shag carpet. The average daily customer demand for the carpet stocked by the store is normally distributed, with a mean daily demand of 30 metres and a standard deviation of 5 metres of carpet per day. The lead time for receiving a new order of carpet is 10 days. Advice the the store if they desire a reorder point and safety stock for a service level of 95%, with the probability of a stockout equal to 5%.Gainesville Cigar stocks Cuban cigars that have variable lead times because of the difficulty in importing the product. Lead time is normally distributed with an average of 6 weeks and a standard deviation of 2 weeks. Demand is also variable and normally distributed with a mean of 200 cigars per week and a standard deviation of 25 cigars. a. For a 90% service level, what is the ROP? b. What is the ROP for a 95% service level?EOQ, reorder point, and safety stock Alexis Company uses 916 units of a product per year on a continuous basis. The product has a fixed cost of $60 per order, and its carrying cost is $3 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days' usage in inventory as a safety stock. a. Calculate the EOQ. b. Determine the average level of inventory. (Note: Use a 365-day year to calculate daily usage.) c. Determine the reorder point. d. Indicate which of the following variables change if the firm does not hold the safety stock: (1) order cost, (2) carrying cost, (3) total inventory cost, (4) reorder point, (5) economic order quantity. a. Alexis' EOQ is units. (Round to the nearest whole number.)
- 1. (a)A computer products store colour graphics monitors, and the daily demand is normally distributed, with a mean of 1.6 monitors and standard deviation of 0.4 monitor. The lead time to receive an order from the manufacturer is 15 days. Determine the reorder point that will achieve a 98% service level. (b)Lumumba Carpet Discount Store sells Super Shag carpet. The average daily customer demand for the carpet stocked by the store is normally distributed, with a mean daily demand of 30 metres and a standard deviation of 5 metres of carpet per day. The lead time for receiving a new order of carpet is 10 days. Advice the the store if they desire a reorder point and safety stock for a service level of 95%, with the probability of a stockout equal to 5%.Tradewinds Imports is an importer of ceramics from overseas. It has arranged to purchase a particular type of ceramic pottery from a Korean artisan. The artisan makes thepottery in 120-unit batches and will ship only that exactamount. The transportation and handling cost of a shipment is $7600 (not including the unit cost). The importerestimates its annual demand to be 1400 units. What storageand handling cost per unit does it need to achieve in orderto minimize its inventory cost?DC Company order 480,000 packs of orange juice per year from a Manila distributor. Atwo-dozen pack case of juice delivered to DC warehouse cost P48 including freightcharges. The company borrows funds at 10 percent interest rate to finance its inventory.DC Company purchasing agent has calculated that it cost P150 to place an order fororange juice and that the annual carrying cost (electricity, insurance, handling ) is P.80for each pack of juice. Would you accept the offer if the Manila distributor offered a 10% discount off thedelivery price for minimum orders of P60,000 packs?
- 1. Maxmin Trading Company buys 1,000 pcs of chair per month. The cost per chair is Php500 and ordering cost is Php400. The inventory carrying cost is estimated at 10% of the price of the chair. Determine the EOQ.A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.20 per stone for quantities of 600 stones or more, $8.70 per stone for orders of 400 to 599 stones, and $10 per stone for lesser quantities. The jewelry firm operates 214 days per year. Usage rate is 25 stones per day, and ordering costs are $48. a. If carrying costs are $2 per year for each stone, find the order quantity that will minimize total annual cost. (Round your intermediate calculations and final answer to the nearest whole number.) Order quantity stones b. If annual carrying costs are 27 percent of unit cost, what is the optimal order size? (Round your intermediate calculations and final answer to the nearest whole number.) Optimal order size stones c. If lead time is 5 working days, at what point should the company reorder? Reorder quantity stones2. Based on the records of ABC company, the annual demand for item HP26 has annual demand of 6,582 units. The ordering cost per order is PhP105, and the holding per unit per year cost is PhP136. a. What is the Economic order quantity? b. What is number of times the company will order? What is the annual carrying cost? c. d. What is the annual ordering cost? e. What is the total inventory costs incurred at EOQ?