1.) You are tasked with selecting the suppler for a new part from
four possible venders A, B,
C, and D. You have data related to quality, price and delivery
terms. Assuming each of these
three aspects equally weighted by your purchasing organization,
which supplier would you
choose given the following information? The critical part dimension
for the quality data has a
specification of 2.5±0.05 cm; and daily demand of 25, with a daily
standard deviation of 30
units; 365 days a year. For this part your organization prefers a
service level of at least 95%
2.) Assume your organization focuses primarily on price, assume you
are forced to use vendor D
(even if D did not win your bid in #4). Using the data in the
previous problem, how much should
be ordered, and when should be orders be placed if the fixed
ordering cost is $300/order and the
inventory carrying cost is 35% and what is the total cost of this
policy? Suppose vender D offers
a 4% discount on the price, provided the order volume is at least
5000 units, does this change
your answer regarding how much to order, and, if so, what is the
new total cost?
Homework Answers
Formulas used
Add Answer to:
1.) You are tasked with selecting the suppler for a new part from
four possible venders...
3) You are tasked with selecting the suppler for a new part from four possible venders A, B, C, and D. You have data related to quality, price and delivery terms. Assuming each of these three asp...
3) You are tasked with selecting the suppler for a new part from four possible venders A, B, C, and D. You have data related to quality, price and delivery terms. Assuming each of these three aspects equally weighted by your purchasing organization, which supplier would you choose given the following information? The critical part dimension for the quality data has a specification of 2.5+0.05 cm; and daily demand of 25, with a daily standard deviation of 30 units; 365...
A friend of yours is in the market for a new computer. Four different machines are...
A friend of yours is in the market for a new computer. Four different machines are under consideration. The four computers are essentially the same, but they vary in price and re- liability. The least expensive model is also the least reliable, the most expensive is the most reliable, and the other two are in between. A Price: $998.95 Expected number of days in the shop per year: 4 B Price: $1300.00 Expected number of days in the shop per...
Assume that you go to supermarket to buy apple and orange. Each apple costs 5 $, and each orange costs 7 $. One apple contains 4 grams of fiber and 2 grams of vitamin. One orange contains 1 gram of fiber and 1 gram of vitamin. Your doctor advised you to g
Assume that you go to supermarket to buy apple and orange. Each apple costs 5 $, and each orange costs 7 $. One apple contains 4 grams of fiber and 2 grams of vitamin. One orange contains 1 gram of fiber and 1 gram of vitamin. Your doctor advised you to get at least 12 grams of fiber and 8 grams of vitamin for every day. You love oranges, so you want to eat at least 2 daily. Pretend you...
Throughout the New Shoes Simulation you will have to evaluate your previous decisions as well as...
Throughout the New Shoes Simulation you will have to evaluate your previous decisions as well as other Market data and information in order to make an informed decision for the current period. The break even analysis is a tool that can assist in setting the price for your athletic shoe during the various decision periods. Based on the market data and information presented in the simulation determine the break even analysis for your New Shoes company and the correlation to...
2-6% each part Suppose we have opened a catfish hot dog stand at the mall which will be open 4 hours per day. We are test marketing our sales at various prices to attempt to determine the best p...
2-6% each part Suppose we have opened a catfish hot dog stand at the mall which will be open 4 hours per day. We are test marketing our sales at various prices to attempt to determine the best price we should use for our catfish hot dogs. So, let: Price of the Number of y hot dogs $1.50 $3.00 $4.00 hot dogs sold 182 118 39 Notice that we have put these variables in the same order that we did...
A dairy farmer is looking at methods for transporting milk from her farm to a dairy...
A dairy farmer is looking at methods for transporting milk from her farm to a dairy plant. Three different methods are trialed over fourteen working days, and the daily costs of the methods (in $ 100) were as follows: Method 16.04 5.05 5.80 4.90 Method 28.82 5.59 6.36 5.85 6.75 Method 3 9.53 8.79 10.24 9.10 7.99 Box plots displaying the data are shown below: Daily Cost of Milk Transportation by Three Delivery Metho ot Cost in 100s of Dollars...
Part 1: Break-Even Analysis (Profit Model) Kramerica Industries has successfully completed production of its "tip calculators"...
Part 1: Break-Even Analysis (Profit Model) Kramerica Industries has successfully completed production of its "tip calculators" and would like to perform a break-even profit model analysis. The combination of equipment purchase cost and other resource and facility fixed costs total 5850.000. Each calculator costs $15 to produce, but will sell for $39. (a) How many calculators does Kramerica need to sell in order to achieve a volume break- even poin/?- (15 points) (b) What is the corresponding revenue break-even poin/?-...
Can you please answers these four questions as aoin as possible please and thank you! Given...
Can you please answers these four questions as aoin as
possible please and thank you!
Given are five observations for two variables, z and y 5 13 20 18 48 57 11 27 a. Choose the corre rect scatter diagram for these data: A. B. 60+ 60 50 50 40 40 30+ 30 20 20 10 10- 10 20 30 40 50 60 x 10 20 30 40 50 60 57 x y 60 60 50+ 50- 40- 40+ 30-...
(1 point) During the summer months Terry makes and sells necklaces on the beach. Terry notices...
(1 point) During the summer months Terry makes and sells necklaces on the beach. Terry notices that if he lowers the price, he can sell more necklaces, and if he raises the price than he sells fewer necklaces. The table below shows how the number n of necklaces sold in one day depends on the price p (in dollars). Price Number of necklaces sold 31 23 16 15 (a) Using least squares find a linear function (i.e., a line) of...
(1 point) During the summer months Terry makes and sells necklaces on the beach. Terry notices that if he lowers the pr...
(1 point) During the summer months Terry makes and sells necklaces on the beach. Terry notices that if he lowers the price, he can sell more necklaces, and if he raises the price than he sells fewer necklaces. The table below shows how the number n of necklaces sold in one day depends on the price p (in dollars) Price |Number of necklaces sold її 24 16 15 (a) Using least squares find a linear function (i.e., a line) of...
3) You are tasked with selecting the suppler for a new part from four possible venders A, B, C, and D. You have data related to quality, price and delivery terms. Assuming each of these three aspects equally weighted by your purchasing organization, which supplier would you choose given the following information? The critical part dimension for the quality data has a specification of 2.5+0.05 cm; and daily demand of 25, with a daily standard deviation of 30 units; 365...
A friend of yours is in the market for a new computer. Four different machines are under consideration. The four computers are essentially the same, but they vary in price and re- liability. The least expensive model is also the least reliable, the most expensive is the most reliable, and the other two are in between. A Price: $998.95 Expected number of days in the shop per year: 4 B Price: $1300.00 Expected number of days in the shop per...
2-6% each part Suppose we have opened a catfish hot dog stand at the mall which will be open 4 hours per day. We are test marketing our sales at various prices to attempt to determine the best price we should use for our catfish hot dogs. So, let: Price of the Number of y hot dogs $1.50 $3.00 $4.00 hot dogs sold 182 118 39 Notice that we have put these variables in the same order that we did...
A dairy farmer is looking at methods for transporting milk from her farm to a dairy plant. Three different methods are trialed over fourteen working days, and the daily costs of the methods (in $ 100) were as follows: Method 16.04 5.05 5.80 4.90 Method 28.82 5.59 6.36 5.85 6.75 Method 3 9.53 8.79 10.24 9.10 7.99 Box plots displaying the data are shown below: Daily Cost of Milk Transportation by Three Delivery Metho ot Cost in 100s of Dollars...
Part 1: Break-Even Analysis (Profit Model) Kramerica Industries has successfully completed production of its "tip calculators" and would like to perform a break-even profit model analysis. The combination of equipment purchase cost and other resource and facility fixed costs total 5850.000. Each calculator costs $15 to produce, but will sell for $39. (a) How many calculators does Kramerica need to sell in order to achieve a volume break- even poin/?- (15 points) (b) What is the corresponding revenue break-even poin/?-...
Can you please answers these four questions as aoin as
possible please and thank you!
Given are five observations for two variables, z and y 5 13 20 18 48 57 11 27 a. Choose the corre rect scatter diagram for these data: A. B. 60+ 60 50 50 40 40 30+ 30 20 20 10 10- 10 20 30 40 50 60 x 10 20 30 40 50 60 57 x y 60 60 50+ 50- 40- 40+ 30-...
(1 point) During the summer months Terry makes and sells necklaces on the beach. Terry notices that if he lowers the price, he can sell more necklaces, and if he raises the price than he sells fewer necklaces. The table below shows how the number n of necklaces sold in one day depends on the price p (in dollars). Price Number of necklaces sold 31 23 16 15 (a) Using least squares find a linear function (i.e., a line) of...
(1 point) During the summer months Terry makes and sells necklaces on the beach. Terry notices that if he lowers the price, he can sell more necklaces, and if he raises the price than he sells fewer necklaces. The table below shows how the number n of necklaces sold in one day depends on the price p (in dollars) Price |Number of necklaces sold її 24 16 15 (a) Using least squares find a linear function (i.e., a line) of...
Most questions answered within 3 hours.
-
An entomologist discovers a dung beetle rolling a ball of dung
along the ground, and decides...
asked 1 hour ago -
Humans have used horses for transportation for millions of
years. Therefore, they will use horses for...
asked 2 hours ago -
The following are the Jensen Corporation's unit costs of making
and selling an item at a...
asked 3 hours ago -
Does direct Medicare reimbursement of Advanced practice nurses
increase access to their services?
asked 4 hours ago -
List and explain why a company would choose to use a
published
compensation survey vs. creating...
asked 4 hours ago -
A discrete random variable X can take values from 1 to 10. Find
the variance of...
asked 4 hours ago -
The primary financial goal of a corporation is to maximize:
shareholders wealth.
earnings per share.
stock...
asked 4 hours ago -
determine whether the vectors u=(1,2,3,), v=(-2,1,0) and
w=(1,0,1) are linearly dependent or independent.
asked 4 hours ago -
python
Define a function called print_values which takes a dictionary
object as a parameter. The function...
asked 5 hours ago -
In Chapter 1 you created a program named Triangle in
which you displayed a seven-line triangle...
asked 5 hours ago -
Research question: What are the differences between separately
stated and non separately stated transactions in an...
asked 6 hours ago -
By using Arduino write a code that connects two LEDs to two
push-buttons. Each button controls...
asked 7 hours ago