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A produce distribution uses 240 packing crates per week, which it purchases at a cost of $20 each. The manager has assigned an annual carrying cost of 30 percent of the purchase price per crate. Ordering costs are $90. Currently the manager orders once every four working weeks. There are 48 working weeks a year. a. What is EOQ? b. What is the number of orders per year using EOQ? c. What is the time between orders in weeks if using EOQ? d. What is the total cost based on the current practice? How much could the firm save annually in ordering and carrying costs by using the EOQ (vs. the current practice)? e. If the order lead-time is 2.5 weeks, what is the reorder point? (ROP) f. If the safety stock policy is that SS= 50, what is the ROP? g. If the standard deviation of the weekly demand distribution is 50 and order lead-time is 2.5 weeks, with SS= 50, what is the service level?
Globalization was welcomed around the world at the beginning of the 1990s. Different trade theories were used to explain benefits of free trade and market liberalization. However, by the end of the twentieth century, voices of discontent were begi..
Describes why you believe that these customer requirements are related to the capabilities of the manufacturing department and how they fit into the business strategy of design.
A large bakery buys flour in 25-pound bags. The bakery uses an average of 4,500 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. Determine the economic order qu..
Who in the organization needs to be involved in designing and implementing a MRP system?
For a company with a product mix of 40 percent of product A and 30 percent each of products B and C, which of the following mixed-model sequences best reflects the lean philosophy?
Twenty years ago, cable tv companies typically exhibited the following characteristics: They were granted the exclusive right to provide cable service to customers in a particular city; i.e. it was impossible for Comcast and Optimum to both offer cab..
Joseph Conklin proposes 10 questions for self-examination to help you understand your capacity for leadership. Answer the following questions, and discuss why they are important for leadership. How often do I have to repeat myself? Do I tend to favor..
The activities related to selling products to the end consumer for the purpose of consumption or resale:
Identify the type of probability your example best fits by explaining whether it is an independent event or dependent upon something else.
How could a business use information technology to increase switching costs and lock in its customers and suppliers? How could a business leverage its investment in information technology to build strategic IT capabilities that serve as a barrier to ..
No one (or no organization) would make a decision based off of imperfect information. However, for a variety of reasons, many times organizations have had to function and make decisions based on imperfect information.
New products may be physical goods or services or a combination of both. Commercial entrepreneurs and social entrepreneurs offer this mix of products and services, although the marketing plans for these activities differ. Compare and contrast the mar..
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