The logistics/operations manager of a mail order house purchases two products for resale: king beds (K) an queen beds (Q). Each king bed costs $500 and requires 100 cubic feet of storage space, and each queen be costs $300 and requires 90 cubic feet of storage space. The manager has $75,000 to invest in beds this week, and her warehouse has 18,000 cubic feet available for storage. Profit for each king bed is $300 and for each queen bed is $150.
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- An automotive warehouse stocks a variety of parts that are sold at neighborhoodstores. One particular part, a popular brand of oil filter, is purchased by thewarehouse for $1.50 each. It is estimated that the cost of order processing andreceipt is $100 per order. The company uses an inventory carrying charge based on warehouse for $1.50 each. It is estimated that the cost of order processing andreceipt is $100 per order. The company uses an inventory carrying charge based ona 28 percent annual interest rate.The monthly demand for the filter follows a normal distribution with mean280 and standard deviation 77. Order lead time is assumed to be five months.Assume that if a filter is demanded when the warehouse is out of stock, then thedemand is back-ordered, and the cost assessed for each back-ordered demand is$12.80. Determine the following quantities:a. The optimal values of the order quantity and the reorder level.b. The average annual cost of holding, setup, and stock-out associated…A barge company moves CoB freight between Memphis and New Orleans. Each barge tow is limited to 15 barges. The round trip takes 6 days. Forecasts call for 37 round trip tows per month. How many towboats does the company need to satisfy this demand? (Assume a month is 30 days.)The A-to-Z Office Supply Company is open from 8:00 A.M. to 6:00 P.M., and it receives 200 callsper day for delivery orders. It costs A-to-Z $20 to send out its trucks to make deliveries. Thecompany estimates that each minute a customer spends waiting for an order costs A-to-Z $0.20in lost sales. How frequently should A-to-Z send out its delivery trucks each day? Indicate the total daily cost of deliveries
- Suppose a Motorboat dealership is dealing in costly motorboats that follow the policy of carrying a few units in stock and ordering for replenishment as soon as a motorboat is sold from the stock. The unit cost of the motorboat is $60,000 and the holding or carrying cost is $5,000 per unit per year. The management of the Motorboat dealership believes that the shortage cost due to waiting for the motorboat is $2,000 per unit short per month. The demand is seen to be Poison distributed with an average rate of 2 units per month and the replenishment lead time can be considered to be exponential with a mean of one month Considering the system as an M/M/s queuing system, find the optimal stock to be carried which can minimize the sum total of carrying and shortage costs.Ruby-Star Incorporated is considering two different vendors for one of its top-selling products which has an average weekly demand of 30 units and is valued at $60 per unit. Inbound shipments from vendor 1 will average 330 units with an average lead time (including ordering delays and transit time) of 4 weeks. Inbound shipments from vendor 2 will average 450 units with an average lead time of 3 weeks. Ruby-Star operates 52 weeks per year; it carries a 4-week supply of inventory as safety stock and no anticipation inventory. A. the average aggregate inventory value of the product if ruby star used vendor 1 exclusively is $_____ (enter your response as a whole number) B. the average aggregate inventory value of the product if ruby sta used vendor 2 exclusively is $______ (enter your response as a whole number) C. how would your analysis change if average weekly demand increased to 140 units per week? the average aggregate inventory value of the product if ruby star used vendor 1…Ruby-Star Incorporated is considering two different vendors for one of its top-selling products which has an average weekly demand of 30 units and is valued at $100 per unit. Inbound shipments from vendor 1 will average 300 units with an average lead time (including ordering delays and transit time) of 4 weeks. Inbound shipments from vendor 2 will average 490 units with an average lead time of 1 week. Ruby-Star operates 52 weeks per year; it carries a 4-week supply of inventory as safety stock and no anticipation inventory. a. The average aggregate inventory value of the product if Ruby-Star used vendor 1 exclusively is $39,000. (Enter your response as a whole number.) b. The average aggregate inventory value of the product if Ruby-Star used vendor 2 exclusively is $ (Enter your response as a whole number.)
- Ruby-Star Incorporated is considering two different vendors for one of its top-selling products which has an average weekly demand of 50 units and is valued at $75 per unit. Inbound shipments from vendor 1 will average 350 units with an average lead time (including ordering delays and transit time) of 2 weeks. Inbound shipments from vendor 2 will average 500 units with an average lead time of 1 week. Ruby-Star operates 52 weeks per year; it carries a 2-week supply of inventory as safety stock and no anticipation inventory.a. What would be the average aggregate inventory value of this product if Ruby-Star used vendor 1 exclusively?b. What would be the average aggregate inventory value of this product if Ruby-Star used vendor 2 exclusively?c. How would your analysis change if average weekly demand increased to 100 units per week?In the following scenario, what will your stockout costs be if you have 200 hammers in stock and you have orders of 80, 60, 50, 30, 120 You are a wholesaler selling hammers. You have a carrying cost for each hammer left in inventory of $.30 per unit, ordering cost of $60 per order placed, and a stockout cost of $30 per customer who is not fully satisfied and $3 per hammer for any orders not fulfilled (lost sales). Orders placed arrive in the sixth week after the week in which the order is placed. Smallest orders are filled first. $480 $1,080 $660 $450 $300Ruby-Star Incorporated is considering two different vendors for one of its top-selling products which has an average weekly demand of 60 units and is valued at $60 per unit. Inbound shipments from vendor 1 will average 370 units with an average lead time (including ordering delays and transit time) of 5 weeks. Inbound shipments from vendor 2 will average 520 units with an average lead time of 1 week. Ruby-Star operates 52 weeks per year; it carries a 5-week supply of inventory as safety stock and no anticipation inventory. a. What would be the average aggregate inventory value of this product if Ruby-Star used vendor 1 exclusively?b. What would be the average aggregate inventory value of this product if Ruby-Star used vendor 2 exclusively?c. How would your analysis change if average weekly demand increased to 100 units per week?
- In the fashion retail industry transshipment is the flow of the products from a retail location to another one to satisfy the demand at the receiver location. Sender only sends a product if it has excess inventory to its demand and it occurs to rebalance the inventory among retail locations. Assume that there is a retailer with I stores. There are O products nominated for transshipment. The available inventory rio, i = 1,2, ..., I, o = 1,2, ..., 0, and demand levels dio, i = 1,2, ..., I, o = 1,2, ..., 0, for all O, stores are known. Moreover, the sales prices of these products are known and are the same in all stores, po, o = 1,2, ... 0. There is a transportation cost when a product is sent from a store to another, Cij, i, j = = 1, 2, ... D which is independent for the type of the product. Assume that if a product o is transshipped from store i, all its available inventory, i.e., rio, must be sent to a single store, thus, partial transshipment is not allowed. However, a store can…. A refiner in city Q serves four customers near city W and maintains consignment inventory (owned by the refiner) at each location. Currently, the refiner uses TL (truckload) transportation to deliver separately to each customer. Each truck costs $(759) plus $(309) per stop. The refiner is considering aggregating deliveries to city W on a single truck. The demand of the first customer is 75 tons a year, the demand of the second customer is 30 tons per year, and the demand of the third and fourth customers is 10 tons per year. The product cost is $8,000 per ton, and it uses a holding cost of (24)%. The truck capacity is 20 tons. a. What is the optimal delivery policy to each customer if the refiner ships separately to each of them? What is the annual total inventory-related cost? b. What is the optimal delivery policy to each customer if the refiner aggregates shipments to each of the four customers on every truck that goes to city W? What is the annual total inventory-related cost?…Arts N Crafts Industries manufacturers high-end light fixtures, which it sells internationally. The company is responsible for paying for shipping its product to a distributor located in Atlanta, Georgia. Due to the high cost of shipping, the company is considering shipping its products unassembled, but will include detailed assembly instructions in each package. By shipping unassembled products, Arts N Crafts will be able to shrink the size of its cartons and thereby increase the number of products per pallet from 16 (4 rows of 4) to 25 (5 rows of 5). Note that this change will not appreciably increase each product’s 8-pound shipping weight. Furthermore, since individual fixtures will be packed more tightly, they will be less susceptible to damage and easier to handle. Thus, the company expects the freight class to decrease from 85 to 70. Currently the company ships 400 units per week.a. Using Table, assess the impact of the proposed change in packaging on weekly shipping cost.b. How…