A product is made-to-stock. Annual demand is 60,000 units. Each unit costs $4.00 and the annual holding cost rate = 25%. Setup cost to produce this product is $300. Determine: 1. Economic order quantity and 2. Total inventory costs for this situation.
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A product is made-to-stock. Annual demand is 60,000 units. Each unit costs $4.00 and the
annual holding cost rate = 25%. Setup cost to produce this product is $300. Determine:
1. Economic order quantity and
2. Total inventory costs for this situation.
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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.Demand for a popular athletic shoe is nearly constant at 1600 pairs per week for a regional division of a national retailer. The cost per pair is $64. It costs $75 to place an order, and annual holding costs are charged at 25% of the cost per unit. The lead time is 3 weeks. One year has 52 weeks.a. What is the Economic Order Quantity?b. What is the reorder point?c. What is the cycle time?d. What is the total annual cost?Company X has a demand of 75 Lakhs per year. Setup cost and holding cost are $29 and $35 per unit. Number of pieces in a order includes 2.3 Lakhs per order. Printing is done 300 days and 2 days to deliver this magazine. ⚫What can be the EOQ of this? With above data find the Setup Cost and Holding cost for a year. What is the Reorder Point. ⚫What is the annual demand to production ratio in this case. What does it indicate for the company?
- Demand for a popular athletic shoe is nearly constant at 1000 pairs per year for a regional division of a national retailer (open every day, working days=365). The cost per pair is $54. It costs $72 to place an order, and annual holding costs are charged at 22% of the cost per unit. The lead time is two weeks (14 days). Show steps to find: a.What is the EOQ? b.What is the reorder point? c.How many orders per year?d.What is the total annual cost?The Annual demand of a product is 50000 and ordering cost is 7000 per order and EOQ is 10000 units. At optimum annual inventory, what is the total yearly holding cost?You are the operations manager of a firm that uses the continuous review (EOQ) system to control your inventory. Suppose the firm operates 52 weeks per year, 365 days, and has the following characteristics for its primary item: Demand = 25,000 units/year %3D Ordering Cost = $30/order Holding Cost = $8/unit/year Lead Time = 2 weeks Standard Deviation in weekly demand = 100 units %3D What is the economic order quantity for this item? Between 400 and 450 units O Between 450 and 500 units Fewer than 400 units O Greater than 500 units
- 32) ABC Shop ABC shop uses glue at a daily rate that is normally distributed with a mean of 250 ounces and a standard deviation of 26 ounces. When the shop places an order for glue it requires 9 days for the order to arrive. What is the Reorder Point if the shop wants an 84% Service Level? Round to an integer value. Group of answer choices a) 2,347 ounces b) 1,538 ounces c) 1,967 ounces d) 2,307 ounces e) 2,327 ounces f) 1,558 ouncesPlease show work so I can understand it. A company decides to establish an EOQ for an item. The annual demand is 200,000 units. The ordering costs are $40 per order, and inventory-carrying costs are $16 per unit per year. Calculate the following: (a). The EOQ in units. (b). Number of orders per year. (c). Annual ordering cost, annual holding cost, and annual total costA toy manufacturer uses approximately 32,000 silicon chips annually. The chips are used at a steady rate during the 240 days the plant operates. Annual holding cost is P27 per chip and ordering cost is P1,080. Lead time = 1 week. Find the EOQ. Find the reorder point. What would be your ordering policy for this item? Find the total annual cost of ordering and carrying silicon chips.
- Demand for your product averages 10,000 units per year. Placing an order costs $500. The holding cost per unit per year is 15% of the cost of the item, and items cost $6.00. What is the EOQ?G-Tech’s monthly demand is 1000 units. You are in charge of the inventory department. You know that the holding cost is $100 per unit and ordering cost is $4,000 per order. What is the EOQ? 2. What is the number of orders per year? 3. What is the annual holding cost? (not Total cost, just the holding cost portion! 4. If we decide to order a quantity of 1000 units instead of the EOQ, what happens to the annual holding cost? (Just tell me in words – could be 3 short words!)Zartex Co. produces fertilizer to sell to wholesalers. One raw material – calcium nitrate – is purchased from a nearby supplier at $22.50 per ton. Zartex estimates it will need 5,750,000 tons of calcium nitrate next year. The annual holding cost for this material is 40% of the acquisition cost, and the ordering cost is $595. a) What is the most economical order quantity? b) How many orders will be placed per year? c) How much time will elapse between orders