In the basic EOQ model, if annual demand increased to 4 times the previous demand level, the effect on the EOQ is Multiple Choice It doubles. It is four times its previous amount. ......... It is half its previous amount. It is about 70 percent of its previous amount. The last answer option is: It increases by about 40 percent.
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- = A small manufacturing facility stocks a single-use filter, part SUF100, for their production process. It costs the manufacturer $1.50 per filter to purchase and $100 per order placed. They use a holding cost of 28% annually. Monthly demand for SUF100 follows a normal distribution with u 280 and σ = = 77. The parts arrive five months after an order is placed. If a stockout occurs, the demand is backlogged, not lost, and costs the production facility $12.80 per part backordered. 1. Find the optimal order quantity and reorder level to minimize average annual cost of holding, setup, and stockout. 2. What is the average annual cost of holding, setup, and stockouts, when the Q,R-policy in part 1 is used?Furnitures sells office chairs ordered from its flagship store. It costs $100 to place an order, and the lead time is two weeks. Demand during lead time is N(40, 1.96). in future goodwill. It pays $60 for each chair and sells it for $100. The annual holding a chair inventory is 30% of its purchase cost. Furnitures estimates that each stockout causes a loss of $50 a) Assuming that all demand is backlogged, what are the reorder point and the safety stock level? b) To meet 99% service objective, what should be the safety stock level for Type 1 Service? For Type 2 Service?A newsvendor orders 8000 units. Demand is normally distributed with a mean of9000 and a standard deviation of 2000. What is the stockout probability?
- XYZ Company must order tires from its warehouse. It costs $10400 to place an order and to review the inventory level. Annual tire sales are normally distributed with mean 18000 and variance 4,000,000. It costs $8 per year to hold a tire in inventory, and each order arrives two weeks after being placed. The Company uses periodic review (R, S) policy. What is the review interval R (in years), estimated using EOQ.? Select one: a. 0.3801 b. 0.19 c. 0.2687 d. 1.075 e. 0.1267Please do not give solution in image formate thanku. JetAirways flight from Philadelphia to Boston has 350 seats. The high fare on the flight is $1000 and the restricted/low fare is $500. There is ample demand for the low fare class but high fare demand is uncertain. Demand for the high fare is normally distributed with mean 150 and standard deviation of 45. Further, the customers buy low fare tickets well in advance of high fare customers. a. What is the optimal protection level for the high fare tickets? b. What is the expected revenue (in thousands) from high fare passengers when a booking limit of 200 is selected for the low fare tickets? c. The JetAirways Customers’ Bill of rights states that “Customers who are involuntarily denied boarding shall receive $750 in addition to a ticket refund.” The RM department notices that the number of no-shows is normally distributed with a mean of 7.5 and standard deviation of 3. What is the maximum number of reservations in excess of plane…XYZ Company must order tires from its warehouse. It costs $10550 to place an order and to review the inventory level. Annual tire sales are normally distributed with mean 20000 and variance 4,000,000. It costs $10 per year to hold a tire in inventory, and each order arrives two weeks after being placed. The Company uses periodic review (R, S) policy. What is the review interval R (in years), estimated using EOQ.? Select one: a. 1.027 O b.0.1083 c. 0.2297 d. 0.1624 e. 0.3248
- Gyona purchases meat from the local supermarket at $5 per kilo and sell it at $9 per kilo. any unsold meat is sold to the Chinese restaurant near by at $2 per kilo. Gyona is sure that the demand follows a normal distribution with a mean of 100 kilograms and a standard deviation of 15 kilograms. - How many kilograms should she order each day?A large manufacturer purchases a part from a supplier under a continuous review system. The average demand is 400 units a day with a standard deviation of 50 units a day. It costs $55 to process each order. The holding cost for a part is $0.2 per month and the company has a policy of maintaining a 96% service level. The company operates 315 days per year. The time from when an order is placed to when it arrives at the company from its vendor is 5 days. a- What is the reorder point? b- What order quantity would be appropriate c- What is the total annual cost for this item?A firm that sells 5,000 blivets per month is trying to determine how many blivets to keep in inventory. The financial manager has determined that it costs $200 to place an order.The cost of holding inventory is 4 cents per month per average blivet in inventory. A five-day lead time is required for delivery of goods ordered. (This lead time is known with certainty.) The operating days per year is 250. What is the economic order quantity? What is the reorder point? At the EOQ level, what is the total carrying cost per month? At the EOQ level, what is the total ordering cost per month?
- Please answer questions 9 and 10 based on this data. Daily demand for packages of five videotapes at a warehouse store is found to be normally distributed with a mean of 50 and a standard deviation of 5. When the store orders more tapes, the orders take four days to arrive. Assume the store is open 360 days a year. If the store wants the probability of stocking out to be no more than 5%, and demand each day is independent of the day before, what should be the safety stock? Please round your answer to two decimals. Safety stock= 17 Question 10 4 pts If the store wants the probability of stocking out to be no more than 5%, and demand each day is independent of the day before, what reorder point should be set? Please round your answer to two decimals. Reorder point=. Goop Inc. needs to order a raw material to make a special polymer. The demand forthe polymer is forecasted to be normally distributed with a mean of 250 gallons anda standard deviation of 100 gallons. Goop sells the polymer for $25 per gallon. Gooppurchases raw material for $10 per gallon and must spend $5 per gallon to dispose of allunused raw material due to government regulations. (One gallon of raw material yieldsone gallon of polymer.) If demand is more than Goop can make, then Goop sells onlywhat it has made and the rest of the demand is lost.a. How many gallons should Goop purchase to maximize its expected profit? b. Suppose Goop purchases 150 gallons of raw material. What is the probability that itwill run out of raw material? c. Suppose Goop purchases 300 gallons of raw material. What are the expected sales (ingallons)? d. Suppose Goop purchases 400 gallons of raw material. How much should it expect tospend on disposal costs (in dollars)? e. Suppose Goop wants to ensure that…Please do not give solution in image format thanku Deltic sells this component for 55 per unit with a 4-month delivery lead time. Assume Deltic covers all transportation and related processing until delivery. TCX’s demand forecast for the upcoming selling season (12 months) is a normal distribution with mean 13500 and standard deviation 3736,4 . TCX sells each unit, after integrating their proprietary software, for 135. Assume that TCX uses a holding cost rate of 25 %, and any leftover units can be sold for 30 on average. Due to the long lead time and high minimum order quantity required, TCX is planning on a single order from Deltic to meet their needs in the next year. How many of these components should TCX order? Calculate the resulting expected annual profits for TCX.