3. Given the following inventory, calculate the Economic Order Quantity and Reorder Point. Annual Requirements (R)...
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Given the following inventory, calculate the Economic Order Quantity and Reorder Point.
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Please show work including formulas for EXCEL.
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3.
Given the following inventory, calculate the Economic Order
Quantity and Reorder Point.
Annual
Requirements (R)...
Excel Online Structured Activity: EOQ Calculation The Las Vegas Corporation purchases a critical component from one...
Excel Online Structured Activity: EOQ Calculation The Las Vegas Corporation purchases a critical component from one of its key suppliers. The operations manager wants to determine the economic order quantity, along with when to reorder, to ensure the annual inventory cost is minimized. The information obtained from historical data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Do not round intermediate calculations. Round your answers...
The Las Vegas Corporation purchases a critical component from one of its key suppliers. The operations...
The Las Vegas Corporation purchases a critical component from
one of its key suppliers. The operations manager wants to determine
the economic order quantity, along with when to reorder, to ensure
the annual inventory cost is minimized. The information obtained
from historical data has been collected in the Microsoft Excel
Online file below. Open the spreadsheet and perform the required
analysis to answer the questions below. Do not round intermediate
calculations. Round your answers according to the input
instructions for...
A manufacturer keeps a continuous inventory review system on the key component, part X. The annual...
A manufacturer keeps a continuous inventory review system on the key component, part X. The annual demand on part X is 12,000 units and the demand rate is constant. The supplier charges $50 for each unit of part X. Each order costs $150 to process and annual holding cost per unit is 20% of the purchase price. (a) What is the economic order quantity? How many orders will be placed each year (365 days)? If the lead time is 3...
An automobile manufacturer stocks a certain inventory item. The daily demand for the inventory item is...
An automobile manufacturer stocks a certain inventory item. The daily demand for the inventory item is 20 units. The company estimates its annual holding cost for this item to be $10 per unit. The cost to place and process an order from the supplier is $200. The company operates 300 days per year, and the lead time to receive an order from the supplier is 3 working days on average. (a) Find the economic order quantity. (b) Find...
a) What is the economic order quantity? _______ units (round your response to the nearest whole...
a) What is the economic order quantity? _______ units (round
your response to the nearest whole number).
b) What are the annual holding costs? $_________(round your
response to the nearest whole number).
c) What are the annual ordering costs? $__________ (round
your response to the nearest whole number).
d) What is the reorder point? _______ units (round your
response to the nearest whole number).
Score: 1.5 of 2 pts 10 of 24 (23 complete) w score: 77.62% , 33.38 .....
Compute the safety stock (S.S.) and reorder point (ROP) for the following situation: Annual Demand =...
Compute the safety stock (S.S.) and reorder point (ROP) for the following situation: Annual Demand = 6570 units Unit Price = $11 and no quantity discounts Ordering Cost = $25/order Holding Cost = $1.50/unit Lead Time = 5 days Desired Customer Service Level = 97.5% Assume 365 days/year and that demand and lead time are constant. Safety Stock = 10; ROP = 90 Safety Stock = 0; ROP = 90 Safety Stock = 5; ROP = 150 Safety Stock =...
The reorder point r = dm is defined as the lead-time demand for an item. In cases of long lead times, the lead-time dema...
The reorder point r = dm is defined as the lead-time demand for an item. In cases of long lead times, the lead-time demand and thus the reorder point may exceed the economic order quantity Q*. In such cases, the inventory position will not equal the inventory on hand when an order is placed, and the reorder point may be expressed in terms of either the inventory position or the inventory on hand. Consider the economic order quantity model with...
SS LIMITED Inventory Cost Management Annual Holding Cost / unit Total Holding Cost / Buffer Stock...
SS LIMITED Inventory Cost Management Annual Holding Cost / unit Total Holding Cost / Buffer Stock Total Holding Cost / Orders Fixed Cost / order Total Ordering Cost / Orders Total Cost Saving by Economic Order Quantity Annual Consumption, units 1,800,000 £1.50 £37.50 Quantity per Order, units 50,000 £42,000.00 £37,500.00 £1,350.00 £80,850.00 Economic Order Quantity, units 9,487 £42,000.00 £7,115.25 £7,115.00 £56,230.25 £24,619.75 Buffer Stock, units 28,000 Weekly Demand, units 36,000 Lead Time, weeks 2...
The reorder point is defined as the lead-time demand for an item. In cases of long...
The reorder point is defined as the lead-time demand for an item. In cases of long lead times, the lead-time demand and thus the reorder point may exceed the economic order quantity Q*. In such cases, the inventory position will not equal the inventory on hand when an order is placed, and the reorder point may be expressed in terms of either the inventory position or the inventory on hand. Consider the economic order quantity model with D = 9,000,...
A certain company utilizes the Economic Order Quantity Run Size for its MRP Schedule. The company...
A certain company utilizes the Economic Order Quantity Run Size
for its MRP Schedule. The company has determined the EOQ is 180
units, the holding costs is 2.1% per unit per week, the cost to
produce a unit is $1, and the the setup cost is $33.96. Consider
the the following MRP schedule: Find the letter A in the table and
calculate its value:
Net Week Requirements 1 84 76 3 93 4 80 5 61 Production Quantity А B...
Excel Online Structured Activity: EOQ Calculation The Las Vegas Corporation purchases a critical component from one of its key suppliers. The operations manager wants to determine the economic order quantity, along with when to reorder, to ensure the annual inventory cost is minimized. The information obtained from historical data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. Do not round intermediate calculations. Round your answers...
The Las Vegas Corporation purchases a critical component from
one of its key suppliers. The operations manager wants to determine
the economic order quantity, along with when to reorder, to ensure
the annual inventory cost is minimized. The information obtained
from historical data has been collected in the Microsoft Excel
Online file below. Open the spreadsheet and perform the required
analysis to answer the questions below. Do not round intermediate
calculations. Round your answers according to the input
instructions for...
a) What is the economic order quantity? _______ units (round
your response to the nearest whole number).
b) What are the annual holding costs? $_________(round your
response to the nearest whole number).
c) What are the annual ordering costs? $__________ (round
your response to the nearest whole number).
d) What is the reorder point? _______ units (round your
response to the nearest whole number).
Score: 1.5 of 2 pts 10 of 24 (23 complete) w score: 77.62% , 33.38 .....
A certain company utilizes the Economic Order Quantity Run Size
for its MRP Schedule. The company has determined the EOQ is 180
units, the holding costs is 2.1% per unit per week, the cost to
produce a unit is $1, and the the setup cost is $33.96. Consider
the the following MRP schedule: Find the letter A in the table and
calculate its value:
Net Week Requirements 1 84 76 3 93 4 80 5 61 Production Quantity А B...
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