Southern Markets Inc. is considering the use of ABC analysis to focus on the most critical SKUs in its inventory. Currently, there are approximately 40,000 different SKUs with a total dollar usage of $14,000,000 per year. . What would you expect to be the number of SKUS and the total annual dollar usage for A items, B items and C items Southern Markets, Inc.? Number of A items = (Enter your response rounded to the nearest whole number.)
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- The following particulars were collected for the year 2015 from Need LLCMonthly demand -2,000 unitsCost of placing an order RO 225.Annual carrying cost per unit 8%Purchase price of input unit RO 350Minimum usage 30 units per weekMaximum usage 50 units per weekRe-order period 6 to 8 weeks.For emergency purchase 4 weeks Required:(a) Re-order quantity(b) Re-order level(c) Minimum level(d) Maximum level(e) Average Stock Level(f) Danger levelIf the company in #8 uses exponential smoothing (smoothing factor = .6) and the forecast for the year is the figure they use for EOQ calculations, calculate the EOQ using the following information: The cost of ordering and carrying cost % are the same as #7 Cost of ordering: $25 Carrying costs: 45% Starting with 2018, Forecast the 2020 demand using exponential smoothing and then use that forecast as the annual demand. year sales 2017 1,000,000 2018 1,200,000 2019 2,000,000 2020Answer bold italicized questions Using excel. The Metropolitan Bus Company (MBC) purchases diesel fuel from AmericanPetroleum Supply. In addition to the fuel cost, American PetroleumSupply charges MBC $250 per order to cover the expenses of deliveringand transferring the fuel to MBC’s storage tanks. The lead time for anew shipment from American Petroleum is 10 days; the cost of holding agallon of fuel in the storage tanks is $0.04 per month, or $0.48 peryear; and annual fuel usage is 150,000 gallons. MBC buses operate 300days a year.a.What is the optimal order quantity for MBC?b.Howfrequently should MBC order to replenish the gasoline supply?c.TheMBC storage tanks have a capacity of 15,000 gallons. ShouldMBC consider expanding the capacity of its storage tanks?d.What isthe reorder point?
- Explain what is the definition of a deterministic inventory model ? When is it appropriate to use ?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?A golf specialty wholesaler operates 50 weeks per year. Management is trying to determine an inventory policy for its 1-irons, which have the following characteristics: > Demand (D) = 2,000 units/year > Demand is normally distributed > Standard deviation of weekly demand = 2 units > Ordering cost = $30/order > Annual holding cost (H) = $5.00/unit > Desired cycle-service level = 85% > Lead time (L) = 4 weeks Refer to the standard normal table for z-values. a. If the company uses a periodic review system, P should be 3.87 weeks. (Enter your response rounded to the nearest whole number.) T should be units. (Enter your response rounded to the nearest whole number.)
- can you please help me answer this question.... Rebar Company prepared the following analysis of its year-end inventory on December 31. First, determine the total lower of cost or market value for each product in Rebar Company's inventory. Second, prepare the journal entry needed at year-end to value the inventory at LCM, if applicable. Historical Cost Replacement Cost Product Quantity per unit per unit A 17 $430 $499 B 140 325 299 C 38 75 69You are running the supply chain for a grocery store operating across Upstate Souun Carolina. You operate a central warehouse and have multiple stores. For each of the following situations determine if it would be best to operate inventory for the product that is pooled at your central warehouse or determined individually by each retail store. Provide at least 1 sentence discussing your choice. (a) The demand for boxes of Nutty Bars at each store during a week is i.i.d. with mean u = 1000 and standard deviation o = Nutty Bars are high compared to holding costs for Nutty Bars. 10. Transshipment costs between the stores for (b) The demand for Fudge Rounds at each store during a week is i.i.d. with mean u = 200 75. Transhipment costs between the stores for Fudge and standard deviation o Rounds are relatively small compared to holding costs.21- Which one of the following represent FIFO method of inventory evaluation? a. Old items remain in inventory b. Old merchandise is sold first c. New merchandise is sold first d. Average number of goods are sold
- A retailer uses a periodic review order-up-to model to control the inventory of one of its high volume products. Average demand is 2580 units per week with a standard deviation of 1270. The review period is 5 weeks, the lead time is 11 weeks, and the safety factor used is 0.61. How many stockouts should the retailer expect for this product next year?Especially for wholesalers and retailers involved in the distribution channels for consumer packaged goods, inventory management is a careful balancing act between: supply and demand. controlled supply and variable demand. lower inventory levels and acceptable customer service levels. variable inventory levels and consistent customer service levels.Fisk Corporation is trying to improve its inventory control system and has installed an online system at its retail stores. Fisk anticipates sales of 58,800 units per year, an ordering cost of $4 per order, and carrying costs of $1.50 per unit. In the second year, Fisk Corporation finds that it can reduce ordering costs to $1 per order, but carrying costs will stay the same at $1.50 per unit. a-1. What is the economic ordering quantity for the second year? Economic ordering quantity (EOQ) a-2. How many orders will be placed during the second year? Number of orders a-3. What will the average inventory be for the second year? Average inventory Total costs units units a-4. What is the total cost of ordering and carrying inventory for second year? LA