An appliance store sells three brands of TV sets, brands A, B, and C. The profit per set is $30 for brand A. $40 for brand B, and $60 for brand C. The total warehouse space allotted to all brands is sufficient for 800 sets, and the inventory is delivered only once per month. At least 175 customers per month will demand brand A, at least 100 will demand brand B, and at least 200 will demand either brand B or brand C. How can the appliance store satisfy all of these constraints and earn maximum profit? The appliance store will maximize its profits by selling brand A televisions, brand B televisions, and brand C televisions.
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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 manufacturer has a production facility that requires 10,237 units of component JY21 per year. Following a long-term contract, the manufacturer purchases component JY21 from a supplier with a lead time of 6 days. The unit purchase cost is $31.4 per unit. The cost to place and process an order from the supplier is $168 per order. The unit inventory carrying cost per year is 12.2 percent of the unit purchase cost. The manufacturer operates 250 days a year. Assume EOQ model is appropriate. If the manufacturer uses a constant order quantity of 1,053 units per order, what is the annual holding cost? Use at least 4 decimal places.Dairy company SG is producing milk at a fixed rate of 5,000 gallons/hour. The total customer order over a day is 100,000 gallons of milk. This demand is distributed evenly from 8:00 am to 6:00 pm. If there is no milk available, customers will wait until enough is produced to satisfy your orders. The company starts to produce at 8 am with 25,000 gallons in finished goods inventory. In the end, after that all the demand has been met, the plant continues producing until the stock of products finished is restored to 25,000 gallons. When answering the following questions, please address the trucks / milk as a continuous flow process. Start by drawing a graphic indicating how much milk is in stock and how much milk is “on hold” throughout the day. a) At what time of day will customers have to wait for their orders to be filled? b) At what time will customers stop waiting? c) Suppose the milk is collected in trucks with a capacity of 1,250 gallons each. What is the maximum number of trucks…
- A logistics company applies the EOQ model to manage its inventory of spare parts used for maintenance work for their trucks. Daily demand is normally distributed. The average daily demand is 10 units, with a standard deviation of 5 units. The EOQ is found to be 400 units and used as the order size for all orders. Order lead time is 4 days. Currently, the firm has just received an order. In how many days do they need to place the next order?The GIIC -Company must determine a policy for ordering coal to operate 15 smelters. Each smelter requires exactly 5 tons of coal per day to operate, and the firm operates 360 days per year. The purchasing manager has negotiated a contract to obtain the coal for 5 BD per ton for the coming year. The purchasing manager has determined that the ordering cost is 40 BD per order, and the cost of holding coal is 20% per ton of its value. i. Determine the optimal quantity of coal to receive in each order. ii. Determine the total inventory-related costs associated with the optimal ordering policy (do not include the cost ii. If five days' lead time is required to receive an order of coal, how much coal should be on hand when an iv. Optimal quantity 1837.11 Tons, Total cost 1837.11 BD, Inventory during LT 275 Tons of the coal). order is placed? i. Optimal quantity 1469.694 Tons, Total cost 1469.694 BD, Inventory during LT 375 Tons ii. Optimal quantity 734.85 Tons, Total cost 1649.694 BD,…A logistics company applies the EOQ model to manage its inventory of spare parts used for maintenance work for their trucks. Daily demand is normally distributed. The average daily demand is 10 units, with a standard deviation of 5 units. The EOQ is found to be 400 units and used as the order size for all orders. Order lead time is 4 days. Currently, the firm has just received an order. In how many days do they need to place the next order? 4 days 36 days 40 days None of the above. Demand is random, so the time until they reach the ROP again is also random
- Jays Office Supplies sells Printers, which it orders from Brands mart Inc in . Because of shipping and handling costs, each order must be for 5 printers. Because of the time it takes to receive an order, the company places an order every time the present stock drops to 5 Printers. It costs $50 to place an order. It costs the company $500 in lost sales when a customer asks for a Printer and the warehouse is out of stock. It costs $100 to keep each Printer stored in the warehouse. If a customer cannot purchase a Printer when it is requested, the customer will not wait until one comes in but will go to a competitor. The following probability distribution for demand for Printer has been determined: Questions 1.Simulate CWD 's ordering and sales policy for 20 weeks 2. Compute the average cost of the policy PLEASE NOTE I SENT THIS IN ALREADY BUT I REALIZED I LEFT OUT SOME VITAL INFORMATION AND AGAIN THIS IS NOT FROM ANOTHER SITE.Bigby Riggs sells high-end art frames that are ordered every Thursday to prepare for next week's demand. The most popular frame style is sold at $50 per unit and it costs Bigby $35 per piece. If too many art frames are ordered, Bigby incurs an inventory carrying cost of $2 per frame. If Bigby runs out of stock for the week, he forgoes the profits from missed sales. Bigby has the option to order 100, 150, or 200 art frames to meet next week's demand which can be either 100, 150, or 200 frames. Based on historical demand, Bigby has determined the following probability information: P(100) = 0.4, P(150) = 0.3, P(200) = 0.3 What is the Expected Monetary Value of your best alternative?Bigby Riggs sells high-end art frames that are ordered every Thursday to prepare for next week's demand. The most popular frame style is sold at $50 per unit and it costs Bigby $35 per piece. If too many art frames are ordered, Bigby incurs an inventory carrying cost of $2 per frame. If Bigby runs out of stock for the week, he forgoes the profits from missed sales. Bigby has the option to order 100, 150, or 200 art frames to meet next week's demand which can be either 100, 150, or 200 frames. Based on historical demand, Bigby has determined the following probability information: P(100) = 0.4, P(150) = 0.3, P(200) = 0.3 The expected value of perfect information (EVPI) is $_________.
- The Delta company uses three raw materials to make cakes. Delta is trying to reduce warehousing costs and establishes three policies to that end: i) The annual number of orders for all products must be at least 20 per contractual terms with transportation providers. ii) The average inventory in units must be a maximum of 1800. iii) Because the raw material is perishable, there can never be more than 2000 units in inventory of raw material 1. Raw material 2 has a maximum allowed of 1200 units and the raw material 3 can store maximum 400 units. The following table shows the product information: Materia Demanda Costos por unidad Costo por prima (u/año) ordenar ($) 2200 2 300 2 500 4 650 3 3000 10 100 Consider an interest rate of 10% per year. A) Formulate the problem as a mathematical programming model that minimizes the total annual cost. b) Represent the problem in a single equation including the constraints in terms of lambda c) Find the optimized batch sizes for the company's raw…In a large microelectronics plant, the assembly cell for circuit boards has a demand for 300 units an hour. Two feeder cells supply partsA and B to the assembly cell (one A and one B for each board). Standard containers that look like divided trays are used. A container will hold 22 As or 13 Bs. It takes 13 minutes to fill up a container with As and 22 minutes to fill up a container with Bs. Transit time to the assembly cell is 5 minutes for both A and B. No safety factor is used. Kanbans to be circulated Between Process A and Assembly cell? Kanbans to be circulated Between Process B and Assembly cell?The Frist Corporation has the followinginternal controls related to inventory:1. Only authorized inventory warehousing personnel are allowed in inventory storageareas.2. All inventory products are stored in warehousing areas that are segregated fromother storage areas used to house equipment and supplies.3. All inventory held on consignment at Frist Corporation is stored in a separatearea of the warehouse.4. The inventory purchasing system only allows purchases from pre-approved vendors.5. The perpetual inventory system tracks the average number of days each inventoryproduct number has been in the warehouse.6. Microchips are embedded in each product and when inventory items are removedfrom the warehouse to shipping, radio-frequencies signal a deduction of inventoryto the perpetual inventory system.7. On a weekly basis, inventory accounting personnel take samples of inventoryproducts selected from the perpetual inventory system and verify that the inventoryis on-hand in the warehouse…