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Retailers Warehouse (RW) is an independent supplier of household items to department stores. RW attempts to stock enough items for a 99 percent service probability. A stainless steel knife set is one item it stocks. Demand (2,200 sets per year) is relatively stable over the entire year. Whenever new stock is ordered, a buyer must assure that numbers are correct for stock on hand and then phone in a new order. The total cost involved to place an order is about $9. RW figures that holding inventory in stock and paying for interest on borrowed capital, insurance, and so on, add up to about $7 holding cost per unit per year. Analysis of the past data shows that the standard deviation of demand from retailers is about six units per day for a 365-day year. Lead time to get the order is seven days.
a. What is the economic order quantity? (Round your answer to the nearest whole number.) Economic order quantity sets
b. What is the reorder point? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.) Reorder point sets.
what are the strategic alternatives in the "toolbox" that might be used to remedy the critical case issues revealed by your analysis? develop several and analyze them for a "best fit" by examining the pros and cons of each
The Los Gatos Art Gallery has a valuable painting that it wishes to sell at auction. There will be three bidders for the painting. The first bidder will bid on Monday, the second will bid on Tuesday, and the third will bid on Wednesday. Use a decisio..
Elucidate what do you think are the differences in determining the impact of the cost factor versus the "people" factor using the process technology approach.
This solution describes cultural influence on multinational negotiations. Culture has been referred to as the "silent language of overseas business." Discuss how the languages of time, space, things, friendship, and agreements influence negotiating..
Given Gasoline production function of QG = 72MG 1.5 MG2, illustrate what is gasoline marginal profit. Given fibre production function of QF = 80MF 2MF2, illustrate what is fibre marginal profit.
Select an organization with which you are familiar. How does your selected organization use the different components of the marketing mix?
In this discussion you are to develop five questions that could be used in an employment interview to help uncover the interviewee’s talents. Avoid questions that are not work-related (for example, "What are your hobbies?") Discuss the reasoning beh..
The Galaxy project consists of 8 interdependent tasks, labeled A through H. You've consulted experts, and have determined an optimistic, likely and pessimistic completion time (in days) for each of the tasks. The dependencies, and the times, are l..
Clocks sell for $15, radios, for $20, and toasters, for $12. The company desires to know the optimal product mix that will maximize profit.
Stan Garner resides in illinois and promotes boxing matches for Supersports, INC. an Illinois corporation. Garner created the conect of "ages" promotion- a three fight series of boxing matches pitting an older fighter (george foreman) against a young..
For this discussion, research and find one corporate university (that is not Hamburger U) and identify how that program is used and why it is important to the corporate development process.
Develop a SWOT matrix for PepsiCo, Follow all the SWOT guidelines provided in this chapter including notation at the end of each strategy. Include 3 strategies in each of the four (SO,ST,WT,WO) quadrants. Be specific regarding your strategies avoidin..
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