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Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Item cost $ 12.00 Standard deviation of weekly demand 20 per week Order cost $ 213.00 Lead time 2 weeks Annual holding cost (%) 20 % of item cost Service probability 95 % Annual demand 26,100 Average demand 522 per week a. Determine the order quantity and reorder point. (Use Excel’s NORMSINV( ) function to find your z-value and then round that z-value to 2 decimal places. Do not round any other intermediate calculations. Round your final answers to the nearest whole number.) Optimal order quantity units Reorder point units b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.) Holding cost $ Ordering cost $ c. Assume a price break of $55 per order was offered for purchase quantities of 2,300 units per order. If you took advantage of this price break, how much would you save annually? (Do not round any intermediate calculations (including number of setups per year). Round your final answer to 2 decimal places.) Annual savings $
1. What are the steps in the planning process? Which step is the most crucial? Why?
Decide what each partner's managerial role in the restaurant will be. For example, who will be responsible for the necessary departments and specific activities
Recently they have had a series of public scandals related to the University of Phoenix. You are now the new president and CEO of the university. Your job is to develop a strategy and approach that will move the organization forward in a more sustain..
Billy John Pigskin of Mule Shoe, Texas, has a von Neumann-Morgenstern utility function of the form . Billy John also weighs about 300 pounds and can outrun jackrabbits and pizza delivery trucks. Billy John is beginning his senior year of college foot..
Illustrate what do you think happens in a company which creates teams just for sake of having teams as it's a fad or just as it sounds good. Elucidate how can this pitfall be avoided.
The information technology department of Cogge University buys paper for its copier machine frequently. The office manager would like to determine the best quantity to order each time an order is placed. She has estimated that the ordering cost is $1..
Select one of the laws from the Week 5 reading (HIPAA, EMTALA, Anti-Kickback or Stark) and identify one aspect of the law that you believe would be relatively simple for a provider to comply with and one aspect of the law that might be challenging fo..
After some thought, you feel that it might be embarrassing if you run out of shillings and need to ask to convert additional dollars, so you really do not want to run out of shillings
Expanding operations requires research and planning; this is especially true when dealing with crossing borders to other regions and countries. During this first project assignment, the focus is to conduct background research on your chosen compan..
Evaluate the key differences between MSG- 2 and MSG-3. As a maintenance manager, what was the operational impact of adopting the MSG-3 approach to maintenance? Provide an example of when an operator might need to change the basic maintenance program/..
The lead time for paper delivery is normally distributed with a mean of 4 days and a standard deviation of 1 day. A 97% service level is expected. Compute First's ROP.
National origin discrimination is prohibited against a job applicant or employee. Besides discriminating against the job applicant or employee directly.
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