a. What is the Economic Order Quantity (EOQ)? b. What is the average inventory and the annual inventory cost? c. In minimising the cost, how many orders would be made each year? What would be the ordering cost?
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- Intan 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 completeIntan 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 only part 4(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 shortage
- 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.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)?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.
- 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?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.Nelson’s Hardware Store stocks a 19.2 volt cordless drill that is a popular seller. Annual demand is 5,000 units, the ordering cost is $15, and the inventory holding cost is $4/unit/year.a. What is the economic order quantity?b. What is the total annual cost for this inventory item?
- Amber Pvt Ltd sells 240,000 stools 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 $0.50 per unit annually and the ordering costs are $180. The delivery time is 10 days. Order should be placed in 100 units and there is 360 days in a year. Compute: The economic order quantity The total cost of holding inventory. The reorder inventory level. The number of orders placed annually.Suzuki is a company that manufactures motorcycles. It produces 450 motorcycles a month. It buys tyres for motorcycles from Dunlop at a cost of $20 per tyre. The company’s inventory carrying cost per tyre is estimated to be 15% of the cost per tyre. The cost per order is calculated at 250% of the cost per tyre. Rquirement: i) Calculate the EOQ. ii) Determine the number of orders per year? iii) Compute the total cost.Q/ A stockiest has to supply 400 units of a product every Monday to his customers. He gets the product at Rs. 50/- per unit from the manufacturer. The cost of ordering and transportation from the manufacturer is Rs. 75 per order. The cost of carrying inventory is 7.5% per year of the cost of the product. Find:(a) Economic order quantity,(b) The total optimal cost.