Acompany uses 2,000 units of a product each year (constant usage). The product is purchased from a supplier at a unit cost of $4; however, the company must pay the freight from the splir's plant, Each unit weighs 5 pounds; the shpping cost is 20 cents per pound. The company estimates the ordrprocessg cost is $25 per order; inventory holding costs are 20 percent per dollar per year. 1. Find the optimal order quantity,
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- Calculate total annual cost for the alternative suppliers for aproduct with following characteristics: montly demand; mean: 5000, standard deviation 2000 Holding cost: 30% Cycle service level: 98% Using EOQ formula, find the lot size. Don’t forget to add ordering cost to the total cost! Supplier 1 Supplier 2 Supplier 3 Ordering Cost(per order ) 1000 2000 5000 Cost 10 9 8 Average Lead Time ( month ) 0.5 2 2 Lead time std deviation ( month ) 0.5 1 2Suzuki is a company that manufactures motorcycles. It produces 450 motorcycles a month. It buys tyres for motorcycles from Dunlop at a cost of $20 per tyre. The company’s inventory carrying cost per tyre is estimated to be 15% of the cost per tyre. The cost per order is calculated at 250% of the cost per tyre. Rquirement: i) Calculate the EOQ. ii) Determine the number of orders per year? iii) Compute the total cost.At theEOQ, what is the firm’s total inventory costper year, assuming safety stock = 15 units?
- My Kitchen Delights (MKD), a regional producer ofgourmet jams and jellies, uses approximately 24,000 glass jarseach month during its production. Because of space limitations,MKD orders 5000 jars at a time. Monthly holding cost is $0.08 perjar, and the ordering cost is $60 per order. Th e company operates20 days per month.(a) What penalty cost is the company incurring by its presentreplenishment policy?(b) MKD would prefer to order eight times each month butneeds to justify any change in order size. How muchwould ordering cost need to be reduced to justify a lot sizeof 3000 jars?(c) If MKD can reduce its ordering cost to $30, what is theoptimal replenishment order quantity?Joe Henry's machine shop uses 2,530 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets: Annual demand 2,530 Holding cost per bracket per year $1.65 Order cost per order $18.25 Lead time 2 days Working days per year 250 Part 2 a) What is the EOQ? enter your response here units (round your response to two decimal places). Part 3 b) What is the average inventory if the EOQ is used? enter your response here units (round your response to two decimal places). What would be the annual inventory holding cost? $enter your response here (round your response to two decimal places). Part 4 c) Given the EOQ, how many orders will be made annually? enter your response here orders (round your response to two decimal places). What would be the annual order cost? $enter your response here (round…Myer stores carries a specialty line of flavored syrups. One of the most popular of these is a raspberry syrup which sells on average, 55 bottles per week. Myers cost is nine dollars per bottle. Meyer has determined it’s order cost to be $54 an inventory caring cost is 20%. Myers open for business 52 weeks per year. What is the EOQ for raspberry syrup? (Whole Number) If Meyer orders the EOQ quantity each time, what will be the inventory turnover rate for raspberry syrup? (Round your answer to 2 decimal spaces)
- 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?A microbrewery purchases malt for production. The supplier charges $35 for delivery (no matter how much is delivered) and $1.20 per gallon. Annual holding cost is 35% of the price per gallon. Usage is 250 gallons/week. d) If order quantity is 2500 gallons, what is the sum of the ordering and holding costs PER GALLON? e) If orders are for EOQ amount, what is the annual cost of the inventory system as a percentage of the annual purchase cost?Race One Motors is an Indonesian car manufacturer. Atits largest manufacturing facility, in Jakarta, the company producessubcomponents at a rate of 300 per day, and it uses these subcomponentsat a rate of 12,500 per year (of250 working days). Holding costsare $2 per item per year, and orde1ing (setup) costs are $30 per order.a) What is the economic production quantity?b) How many production runs per year will be made?c) What will be the maximum inventory level?d) What percentage of time will the facility be producing components?e) What is the annual cost of ordering and holding inventory?
- Joe Henry's machine shop uses 2,450 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets: Annual demand 2,450 Holding cost per bracket per year $1.65 Order cost per order $18.50 Lead time 2 days Working days per year 250 a) What is the EOQ? __units (round your response to two decimal places). b) What is the average inventory if the EOQ is used?__ units (round your response to two decimal places). What would be the annual inventory holding cost? $__ (round your response to two decimal places). c) Given the EOQ, how many orders will be made annually?__orders (round your response to two decimal places). What would be the annual order cost? $__ (round your response to two decimal places). d) Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? __ $ (round your response to two decimal places). d)…I need answers A company uses on an average 216 parts a day with a standard deviation of 16 parts per day in a manufacturing process. Cost of placing and receiving an ordering is BDT 40,000. Estimated monthly carrying cost is BDT 90 per part. Orders are delivered approximately 7 days after being placed. The delivery time is normal with a mean of 7 days and a standard deviation of 2 days. The company is open 360 days per year. Find the order quantity that is economical. If the Company takes 3% stock out risk, then find safety stock (SS) quantity and Re-Order Point? 3.If the supplier offers a discount of BDT 8 per circuit board for purchasing of 4000 boards at a time, then financially evaluate and justify whether the company will go with the offer or not? 4.The person who orders the boards follows this rule: Order when the amount on…Regional Supermarket is open 355 days per year. Daily use of cash register tape averages 20 rolls. Usage appears normally distributed with a standard deviation of 2 rolls per day. The cost of ordering tape is $.75, and carrying costs are 41 cents per roll a year. Lead time is 4 days. Use Table1 and Table2. a. What is the EOQ? (Round your answer to the nearest whole number.) EOQ 118 b. What ROP will provide a lead time service level of 51.6 percent? (Round up your answer to the nearest whole number.) ROP 61