What is the optimal order quantity

Assignment Help Operation Management
Reference no: EM131421895

Omar Haaris receives 5000 tripods annually from top grade supplier to meet his annual demand.Omar runs a large photographic outlet and the tripods are used primarily with 35mm camera. The ordering cost is $15 per order and the carrying cost is $0.50 per unit per year. Weekly demand is 100 tripods

a) What is the optimal order quantity

b) Top grade is offering a new shipping options when an order is placed.Top grade will ship one third of the order every week foe three weeks instead of shipping the entire order at once.What is the order quantity if O mar chooses this option? To simplify your calculation,assume that the average inventory is equal to one-half of the maximum inventory level for top grade's new position

c) suppose top grade suppliers offers to ship one-fifth of ther order every week for five weeks.what is the order quantityunder this option.make the same assumption as in part (b).

d) calculate the total cost of each option.What do you recommend.

Reference no: EM131421895

Questions Cloud

What is the expected value of our samples mean : As our sample size increases, what's the expected shape of the samples distribution?- What's the expected value of our sample's mean? Does the size of the sample matter?
Responsibilities to consumers with regard to the safety : Is business meeting its responsibilities to consumers with regard to the safety, quality, pricing, and labeling and packaging of its products? If not, how might it do better? Provide examples.
Briefly discuss which fallacies they are : Choose a work--this could be a written work, advertisement, speech, or anything else that applies--and list three logical fallacies in the work and briefly discuss which fallacies they are, what the author is attempting to do with them, how they c..
Mean and standard deviation of sampling distribution model : What are the mean and standard deviation of the sampling distribution model for?- Is a Normal model appropriate here? Explain.
What is the optimal order quantity : Omar Haaris receives 5000 tripods annually from top grade supplier to meet his annual demand.Omar runs a large photographic outlet and the tripods are used primarily with 35mm camera. What is the optimal order quantity. suppose top grade suppliers of..
Is it certain that korver is better than carroll : Find a 95% confidence interval for the difference in their free throw percentages.- Based on your confidence interval, is it certain that Korver is better than Carroll at making free throws?
Is indicate an increase in incidence of early birth of twins : In 2000, 26 of 48 sets of twins were born preterm. Does this indicate an increase in the incidence of early births of twins? Test an appropriate hypothesis and state your conclusion.
Does the firm have an effective plan for managing risks : How does Value-at-Risk affect investing for a manufacturing firm?How might a manufacturing business be affected by credit scoring?What other investment and financial risks are associated with manufacturing?How might the investment and financial risks..
Company offers id theft protection : A company offers ID theft protection using leads obtained from client banks. There are 4 employees that work 40 hours per week on leads at a pay rate of $22 per hour per employee. Material and overhead cost is $6000 per week. Calculate the multifacto..

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd