Homework Answers
Result
| Total demand | 8227 | |||||||||
| Mean demand | 350 | Total ordered | 8000 | |||||||
| Stdev of demand | 75 | Selling price | $2,300.00 | Total sold | 8000 | |||||
| Order Quantity | 1000 | Purchase cost | $1,200.00 | Total holding cost | $ 77,659.69 | |||||
| Reorder Point | 100 | Order Cost | $100.00 | Total ordering cost | $ 800.00 | |||||
| Initial Inventory | 400 | Holding Cost | $12.00 | Profit | $8,721,540 | |||||
| Beg | Order | Units | End | Order | Inv | Hold | Order | |||
| Month | Inv | Rec'd | Rec'd | R.N. | Dmd | Inv | Placed? | Pos | Cost | Cost |
| 1 | 400 | 0 | 0.688 | 387 | 13 | YES | 1013 | $ 159.23 | $ 100.00 | |
| 2 | 13 | YES | 1000 | 0.411 | 333 | 680 | NO | 680 | $ 8,162.27 | $ - |
| 3 | 680 | 0 | 0.959 | 480 | 200 | NO | 200 | $ 2,401.42 | $ - | |
| 4 | 200 | 0 | 0.913 | 452 | -252 | YES | 748 | $ - | $ 100.00 | |
| 5 | -252 | YES | 1000 | 0.392 | 330 | 419 | NO | 419 | $ 5,025.94 | $ - |
| 6 | 419 | 0 | 0.095 | 252 | 167 | NO | 167 | $ 2,003.36 | $ - | |
| 7 | 167 | 0 | 0.017 | 191 | -24 | YES | 976 | $ - | $ 100.00 | |
| 8 | -24 | YES | 1000 | 0.402 | 331 | 644 | NO | 644 | $ 7,730.88 | $ - |
| 9 | 644 | 0 | 0.349 | 321 | 323 | NO | 323 | $ 3,879.98 | $ - | |
| 10 | 323 | 0 | 0.547 | 359 | -35 | YES | 965 | $ - | $ 100.00 | |
| 11 | -35 | YES | 1000 | 0.107 | 257 | 708 | NO | 708 | $ 8,494.40 | $ - |
| 12 | 708 | 0 | 0.899 | 446 | 262 | NO | 262 | $ 3,145.23 | $ - | |
| 13 | 262 | 0 | 0.709 | 391 | -129 | YES | 871 | $ - | $ 100.00 | |
| 14 | -129 | YES | 1000 | 0.730 | 396 | 475 | NO | 475 | $ 5,696.43 | $ - |
| 15 | 475 | 0 | 0.919 | 455 | 20 | YES | 1020 | $ 238.43 | $ 100.00 | |
| 16 | 20 | YES | 1000 | 0.752 | 401 | 619 | NO | 619 | $ 7,427.01 | $ - |
| 17 | 619 | 0 | 0.069 | 239 | 380 | NO | 380 | $ 4,561.18 | $ - | |
| 18 | 380 | 0 | 0.034 | 213 | 167 | NO | 167 | $ 2,007.41 | $ - | |
| 19 | 167 | 0 | 0.685 | 386 | -219 | YES | 781 | $ - | $ 100.00 | |
| 20 | -219 | YES | 1000 | 0.037 | 216 | 565 | NO | 565 | $ 6,781.60 | $ - |
| 21 | 565 | 0 | 0.669 | 383 | 182 | NO | 182 | $ 2,186.95 | $ - | |
| 22 | 182 | 0 | 0.307 | 312 | -130 | YES | 870 | $ - | $ 100.00 | |
| 23 | -130 | YES | 1000 | 0.732 | 396 | 474 | NO | 474 | $ 5,683.67 | $ - |
| 24 | 474 | 0 | 0.256 | 301 | 173 | NO | 173 | $ 2,074.29 | $ - |
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