A goblet has a unit production cost of $50, an ordering cost per order of $100, and a holding cost fraction per period of .04. Complete the tables and determine the lot sizes by the Wagner-Within algorithm from the data below: Period Demand (units) Z 1 2 3 4 5 6 C 1 2 3 4 5 6 fe Period Demand (units) Order Quantity Cumulative Variable Cost 1 100 X X X X X 1 100 X X X X X 1 60 1 60 2 120 100 X X X X 2 120 200 X X X X 2 10 2 10 3 240 160 100 X X X 3 240 260 220 X X X 3 30 3 30 4 240 160 100 100 X X 4 240 260 220 320 X X 4 0 4 0 5 100 5 1040 760 500 300 100 X 5 1040 860 620 520 320 X 5 100 6 10 6 1140 6 1140 10

A goblet has a unit production cost of $50, an ordering cost per order of $100, and a holding cost fraction per period of .04. Complete the tables and determine the lot sizes by the Wagner-Within algorithm from the data below: Period Demand (units) Z 1 2 3 4 5 6 C 1 2 3 4 5 6 fe Period Demand (units) Order Quantity Cumulative Variable Cost 1 100 X X X X X 1 100 X X X X X 1 60 1 60 2 120 100 X X X X 2 120 200 X X X X 2 10 2 10 3 240 160 100 X X X 3 240 260 220 X X X 3 30 3 30 4 240 160 100 100 X X 4 240 260 220 320 X X 4 0 4 0 5 100 5 1040 760 500 300 100 X 5 1040 860 620 520 320 X 5 100 6 10 6 1140 6 1140 10

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Similar questions

What is the average demand and standard deviation of demand during the protextion interval? the target inventory ? the order quantity ?
If EOQ = 289 units, S = $100, and H = $1 per unit per month, what approx. annual demand (D) level would the EOQ model best fit? Pick the closest answer option. EOQ = Sq root of [(2D*S)/H] D = annual demand in units S = cost of placing 1 order; H = cost of holding 1 unit of that item in inventory for 1 year 3596 units 3540.00 units 5011 units 4510 units
A store has collected the following information on one of its products:Demand = 4,500 units/year Standard deviation of weekly demand = 12 units Ordering costs = $40/order Holding costs = $3/unit/year Cycle-service level = 90% (z for 90% = 1.28) Lead-time = 2 weeks Number of weeks per year = 52 weeks a. If a firm uses the continuous review system to control the inventory, what would be the order quantity and reorder point?
You are the executive chef at a large wedding facility, and a wedding with a confirmed count of 168 is scheduled for tomorrow at noon. Everything has been ordered except the shrimp, which was missing from the last purchase order. It will have to be a last-minute rush order, and only one supplier can get it to you in time. The purchase order will be for frozen raw, U 16-20, shrimp peeled, de-veined, tail-on, in 5-pound boxes (according to your spec for the product). You’ve dealt with this supplier before, and made a note to yourself on the jumbo shrimp spec that this vendor’s product averages 19 to 20 shrimp per pound and has a 96% yield. Catering policy dictates that a 10% buffer be provided for unexpected guests, and the catering menu states that 5 shrimp are to be served per person. If you have 4 pounds of good jumbo shrimp on hand, how much will you order for the wedding? Will there be any leftover product? How much?
Among the following multi-period inventory models, which one has the highest probability of stockout? A. Fixed Order Quantity with Safety Stock B. Fixed Time Period Model C. Fixed Order Quantity D. Both Fixed Order Quantity & Fixed Order Quantity with Safety Stock
A drugstore uses fixed-order cycles for many of the items it stocks. The manager wants a servicelevel of .98. The order interval is 14 days, and lead time is 2 days. Average demand for one itemis 40 units per day, and the standard deviation of demand is 3 units per day. Given the on-handinventory at the reorder time for each order cycle shown in the following table, determine theorder quantities for cycles 1, 2, and 3.Cycle On Hand1 422 83 103
The following table contains figures on the monthly volume and unit costs for a random sample of 16 items from a list of 2,000 inventory items at a health care facility. Transcribed Image Text: Item Unit Cost Usage Item Unit Cost Usage K34 $10 200 F99 20 60 K35 25 600 D45 10 550 K36 36 150 D48 12 90 M10 16 25 D52 15 110 M20 20 40 08 200 D57 120 245 80 NO8 30 40 F14 20 300 PO5 16 500 F95 30 800 P09 10 30 a-Develop an A-B-C classification for these items. b-Given the monthly usages in the following table, classify the items in A, B, and C categories according to dollar usage. c- Determine the percentage of items in each category and the annual dollar value for each category for part b.
[item no. 9] In marginal analysis with discrete distributions for single-period inventory models, the value of ML/(ML+MP) is 0.8. The probability distribution of sales is given by the following by the table below. Find the optimal number of units to order. Daily demand 80 90 100 110 120 Probability that demand will be at this level 0.10 0.20 0.30 0.30 0.10 a. 90 units b. 110 units c. 100 units d. 80 units
Suppose the College of Engineering is planning to sell merchandise this year. They don't know how many students will be interested or how many will sell, so they've received three quotes for orders of different sizes. Assume the relationship is linear or best fit. a) What is the fixed cost? ✔ [ Select] 300 200 250 500 would cost, based on the above calculations? b) What are the Variable c) If the merchandise is v Small Order Medium Order Large Order Units 250 500 1000 [Select] Cost Quote $5,000.00 $9,500.00 $18,900.00 they need 1,500 units, what do you predict it d) If the College of Engineering were to receive an offer from a different producer for a flat rate of $19 per shirt, what would be the breakeven point between the two scenarios (round to the nearest 10 units)? [Select]
Your company currently keeps a safety stock of 554 units of a particular product that has a lead time of 10 days. Records indicate that the weekly demand was as follows: 1176 955 780 1052 736 842 748 993 852 738 794 1444 1333 1372 1106 706 923 734 786 729 1357 1165 1277 683 1106 What is the current service level? Input your result as the decimal form and round to 4 decimal places. You are requested to recommend a safety stock that will ensure an average service level of 97.5%. The lead time is not expected to change. What safety stock would you recommend? (0 decimal places)
Which one of the following variables is not explicitly considered in the computation of the Economic Order Quantity? a. Per unit per year cost of storage and storage insurance for the inventories purchased b. Annual quantity forecasted by the firm that will satisfy the demand of the customers c. Any deductions from the selling price granted by the suppliers to the buyers due to certain quantities reached d. Ordering or transaction cost that must be constant regardless of quantity ordered
A drugstore uses fixed-order cycles for many of the items it stocks. The manager wants a service level of .99. The order interval is 12 days, and lead time is 4 days. Average demand for one item is 63 units per day, and the standard deviation of demand is 6 units per day. Given the on-hand inventory at the reorder time for each order cycle shown in the following table. Use Table. Cycle On Hand 1 38 2 10 3 93 Determine the order quantities for cycles 1, 2, and 3: (Round your answers to the nearest whole number) Cycle Units 1 1019 Numeric ResponseEdit Unavailable. 1019 incorrect. 2 1047 Numeric ResponseEdit Unavailable. 1047 incorrect. 3 964 Numeric ResponseEdit Unavailable. 964 incorrect.