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Solve with Dynamic Programing A retailer wishes to plan the purchase of a certain item for the next five months. Suppose that the demand in these months is known and given by: MonthDemand (units) Mo...
Leaky Pipe, a local retailer of plumbing supplies, faces demand for one of its SKUS at a constant rate of 18,700 units...
Leaky Pipe, a local retailer of plumbing supplies, faces demand for one of its SKUS at a constant rate of 18,700 units per year. It costs Leaky Pipe $15 to process placed. No backordering is allowed. Assume 250 working days a year. an order to replenish stock and $2.00 per unit per year to carry the item in stock. Stock is received 2 working days after an order is a. What is Leaky Pipe's optimal order quantity= 775 units b....
Leaky Pipe, a local retailer of plumbing supplies, faces demand for one of its SKUs at...
Leaky Pipe, a local retailer of plumbing supplies, faces demand for one of its SKUs at a constant rate of 30,000 units per year. It costs Leaky Pipe $10 to process an order to replenish stock and $1 per unit per year to carry the item in stock. Stock is received 4 working days after an order is placed. No backordering is allowed. Assume 300 working days a year. a. What is Leaky Pipe’s optimal order quantity? b. What is...
17. Production planning. DirectCo sells an item whose demand over the next four months is 100,...
17. Production planning. DirectCo sells an item whose demand over the next four months is 100, 140, 210 and 180 units, respectively. The company can stock just enough supply to meet each month's demand, or it can overstock to meet the demand for two or more successive and consecutive months. In the latter case, a holding cost of $1.20 is charged per overstocked unit per month. DirectCo estimates the unit purchase prices for the next four months to be $15,...
Leaky Pipe, a local retailer of plumbing supplies, faces demand for one of its SKUs at...
Leaky Pipe, a local retailer of plumbing supplies, faces demand for one of its SKUs at a constant rate of 18 comma 700 units per year. It costs Leaky Pipe $35 to process an order to replenish stock and $6.00 per unit per year to carry the item in stock. Stock is received 12 working days after an order is placed. No backordering is allowed. Assume 250 working days a year. a. Leaky Pipe's optimal order quantity is 467 nothing...
A retailer sells four items i = 1, 2, 3, 4. Their weekly demand characteristics are...
A retailer sells four items i = 1, 2, 3, 4. Their weekly demand characteristics are the same, with a mean demand of µi = 100 units, and a standard deviation of σi = 10 units. The four items are also independent of one another (wherever you need to, you can assume the covariance is 0). The retailer does not know exactly how the item demands are distributed, but they assume they follow a normal distribution. Answer the following questions....
A manufacturing firm is determining the production and inventory plan to meet demand in the next...
A manufacturing firm is determining the production and inventory plan to meet demand in the next three months. The production facility can produce at most 400 units in one month. The cost of producing one unit in the next three months are respectively 28, 30, and 40 dollars. The cost of carrying one unit of inventory in the next three months are respectively are 2, 3, and 3 dollars. Assume that the firm has a starting inventory of 20 units....
What is a reasonable safety stock level for Item-A1234 in order to achieve a 99% service...
What is a reasonable safety stock level for Item-A1234 in order to achieve a 99% service level (1% probability of stock out) if the forecasted sales for the next 12 months are 42 units a month? Please consider only safety stocks (used to protect against the uncertainty in demand variability). No need to use calculator or formulas! Item A1234 5 0 15 20 25 30 35 40 45 about 10 units units about 53 units about 20 units
A firm must plan production for the next six months. Each unit costs $430 to produce...
A firm must plan production for the next six months. Each unit costs $430 to produce and it has an inventory holding cost of $15 per unit per month based on ending inventory levels. The cost to hire a worker is $280, and the cost to fire a worker is $560 per worker. Each worker produces 10 units per month. There are 20 persons on the payroll at the beginning of the first month. The company currently has 150 units...
1) (25pts) An engineer is making aggregate planning for the next 4 months. Demand forecasts in...
1) (25pts) An engineer is making aggregate planning for the next 4 months. Demand forecasts in aggregate items are 600, 350, 400, 700 for months 1 to 4. The company has an initial workforce of 80 and capacity can be adjusted by hiring (at a cost of 150 liras per worker) or firing (at a cost of 900 liras per worker). Each worker is capable of producing 0.2 aggregate items in one workday. The available workdays are given as 25,...
A firm must plan production for the next six months. Each unit costs $370 to produce...
A firm must plan production for the next six months. Each unit costs $370 to produce and it has an inventory holding cost of $23 per unit per month based on ending inventory levels. The cost to hire a worker is $220, and the cost to fire a worker is $440 per worker. Each worker produces 10 units per month There are 20 persons on the payroll at the beginning of the first month. The company currently has 150 units...
Leaky Pipe, a local retailer of plumbing supplies, faces demand for one of its SKUS at a constant rate of 18,700 units per year. It costs Leaky Pipe $15 to process placed. No backordering is allowed. Assume 250 working days a year. an order to replenish stock and $2.00 per unit per year to carry the item in stock. Stock is received 2 working days after an order is a. What is Leaky Pipe's optimal order quantity= 775 units b....
17. Production planning. DirectCo sells an item whose demand over the next four months is 100, 140, 210 and 180 units, respectively. The company can stock just enough supply to meet each month's demand, or it can overstock to meet the demand for two or more successive and consecutive months. In the latter case, a holding cost of $1.20 is charged per overstocked unit per month. DirectCo estimates the unit purchase prices for the next four months to be $15,...
What is a reasonable safety stock level for Item-A1234 in order to achieve a 99% service level (1% probability of stock out) if the forecasted sales for the next 12 months are 42 units a month? Please consider only safety stocks (used to protect against the uncertainty in demand variability). No need to use calculator or formulas! Item A1234 5 0 15 20 25 30 35 40 45 about 10 units units about 53 units about 20 units
A firm must plan production for the next six months. Each unit costs $430 to produce and it has an inventory holding cost of $15 per unit per month based on ending inventory levels. The cost to hire a worker is $280, and the cost to fire a worker is $560 per worker. Each worker produces 10 units per month. There are 20 persons on the payroll at the beginning of the first month. The company currently has 150 units...
1) (25pts) An engineer is making aggregate planning for the next 4 months. Demand forecasts in aggregate items are 600, 350, 400, 700 for months 1 to 4. The company has an initial workforce of 80 and capacity can be adjusted by hiring (at a cost of 150 liras per worker) or firing (at a cost of 900 liras per worker). Each worker is capable of producing 0.2 aggregate items in one workday. The available workdays are given as 25,...
A firm must plan production for the next six months. Each unit costs $370 to produce and it has an inventory holding cost of $23 per unit per month based on ending inventory levels. The cost to hire a worker is $220, and the cost to fire a worker is $440 per worker. Each worker produces 10 units per month There are 20 persons on the payroll at the beginning of the first month. The company currently has 150 units...
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