What is the Economic Order Quantity (EOQ)? What is the average inventory and the annual inventory cost? In minimising the cost, how many orders would be made each year? What would be the ordering cost?
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A shop sells 5000 glasses in a year and the sales are relatively constant throughout the year. The glasses are purchased from Italy for RM 16.00 each. The lead time is 2 days. The holding cost per glass per year is RM 1.50 and the ordering cost per order is RM 8.00. There are 250 working days per year.
- What is the Economic Order Quantity (EOQ)?
- What is the average inventory and the annual inventory cost?
- In minimising the cost, how many orders would be made each year? What would be the ordering cost?
- What is the total annual inventory cost (including the purchase cost)?
- What is the duration between orders?
- What is the Re-order Point (ROP)?
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- A shop sells 5000 glasses in a year and the sales are relatively constant throughout the year. The glasses are purchased from Italy for RM 16.00 each. The lead time is 2 days. The holding cost per glass per year is RM 1.50 and the ordering cost per order is RM 8.00. There are 250 working days per year. What is the total annual inventory cost (including the purchase cost)? What is the duration between orders? What is the Re-order Point (ROP)?(c) A company which produces washing machines has to store a certain item, and two such items are needed to assemble one washing machine. Annual demand for machines is 1000 units. The following information is available. Ordering cost = Rs.250 per order Inventory holding cost = Rs.125 per unit per year Back-order cost = Rs.150 per unit per year Find the following. i) Economic order quantity ii) Optimum level of shortageIntan Store sells 240,000 cabinets per year. Based on the company's policy, a safety stock of 4 percent from yearly sales is to be maintained. The carrying cost is RM0.60 per unit annually and the ordering costs are RM150.00. The delivery time is 10 days. Order should be placed in multiple of 100 units. i. Compute the economic order quantity (assume 360 days per year). ii. Compute the total inventory cost. iii. Compute the reorder inventory level. iv. Compute the average inventory please answer complete
- A local TV repairs shop uses 36,000 units of a part each year (A maximum consumption of 100 units per working day). It costs RM20 to place and receive an order. The shop orders in lots of 400 units. It cost RM4 to carry one unit per year of inventory. Calculate total annual ordering cost Calculate total annual carrying cost Calculate total annual inventory cost Calculate the Economic Order Quantity Calculate the total annual cost inventory cost using EOQ inventory Policy How much is the saving if using EOQ? Compute re-ordering point assuming the lead time is 3 days.K Race One Motors is an Indonesian car manufacturer. At its largest manufacturing facility, in Jakarta, the company produces subcomponents at a rate of 290 per day, and it uses these subcomponents at a rate of 12,700 per year (of 250 working days). Holding costs are $2 per item per year, and ordering costs are $31 per order. a) What is the economic production quantity? 690.88 units (round your response to two decimal places). b) How many production runs per year will be made? 18.38 production runs (round your response to two decimal places). c) What will be the maximum inventory level? units (round your response to two decimal places).Sells 360,000 tennis balls per year. The tennis balls cost Dennis Sport World RM15 per dozen. Annual inventory carrying costs are 20% of inventory price. The cost of placing and receiving an order are RM72. Assuming the inventory replenishment occurs virtually instantaneously. Based on recent experience, Dennis Sport World uses 7 days delivery time for planning purposes. (Assume 360 days in a year) a) Calculation of the Economic Order Quantity? b) Calculation of the number of orders to be placed? c) Calculation of the total annual inventory costs? d) Determination of the reorder point?
- Q 1 Super K Beverage Company distributes a soft drink that has a constant annual demand rate of 4,600 cases. A 12-pack case of the soft drink costs Super K $2.25. Ordering costs are $20 per order, and inventory-holding costs are charged at 25 percent of the cost per unit. There are 250 working days per year, and the lead time is four days. Find the economic order quantity and total annual cost, and compute the reorder point. Q 2 Environmental considerations, material losses, and waste disposal can be included in the EOQ model to improve inventory management decisions. Assume that the annual demand for an industrial chemical is 1,200 lb, item cost is $5/lb, order cost is $40, inventory-holding cost rate (percent of item cost) is 18 percent. Q3 An insurance claims work area has five claims waiting for processing as follows. Job Processing Time Due Date (Di) 1 22 35 2…10 Use the information presented in the graph to answer the following questions: Annual Cost C3 C2 Q1 You are also given the following information: Q1 =450 .Q2 = 700 C1 = 350 C2 = 750 1300 Q2 Order Quantity Which annual inventory cost component does the blue line represent? Total cost Which annual inventory cost component does the green line represent? Holding cost What is the Economic Order Quantity (EQ9) based on th Which annual inventory cost component does the red line represent? Ordering cost 220Fruitcake Specialists sells 36,000 fruit cakes annually. Annual carrying costs are P5 per fruit cake and the ordering costs are P100 per order. The firm has decided to maintain a safety stock of one month's sales or 3,000 fruit cakes. The delivery time per order is 5 days. Assume a 365-day a year. What is the EOQ? What is the average inventory? How many orders should be placed each year? What is the total inventory cost? What is the re-order point?
- Define each of the following in your own words and as a formula:a. Annual ordering cost.b. Annual carrying cost.c. Total annual cost.1. Maxmin Trading Company buys 1,000 pcs of chair per month. The cost per chair is Php500 and ordering cost is Php400. The inventory carrying cost is estimated at 10% of the price of the chair. Determine the EOQ.PLEASE MAKE IT IN EXCEL AND SHOW THE FORMULAS Talavartería El Cairo, S.A., is trying to improve its inventory control system and has installed an on-line computer in its retail stores. Cairo anticipates an annual consumption of 68,000 units per year, a cost per order of $40, and holding costs of $1.80 per unit. What is the CEP and total inventory holding cost at that level?