Use for the following 2 questions: A fresh fish market sells perch for $7/lb, pays the fishermen $3/lb, and can get $2/lb from a pet food manufacturer for any not sold at the end of the day. The daily sales average is 8O Ib with a standard deviation is 20lb. What is the appropriate service level for perch for the market? Question 17 What is the appropriate stocking level (nearest whole number) in Ibs?
Q: a) Find Economic Order Quantity. b) Find reorder point. c) How frequently theorder will be placed?
A: Given Demand D = 104000 (2000 x 52) units Cost per order = 32 MU/order holding cost = 0.25 x 8 = 4…
Q: a. Suppose that the weekly demand forecast of 95 bags is incorrect and actual demand averages only…
A: Given, Actual demand = 95 bags/ week Annual demand D = 95*50 = 4750 bags Order cost S = $50 Holding…
Q: The airline industry has suffered recent setbacks, such as the highcost of fuel, which have forced…
A: Quality items make a significant commitment to long-haul income and benefit. Quality is basic to…
Q: 1. Describe how the inventory system (Two Bin Supply System) works. 2. What are the technologies…
A: Inventory replenishment is described as the process of replenishing stocks. The process explicitly…
Q: Corral Cartage leases trucks to service its shipping contracts. Larger trucks have cheaper operating…
A: These agreements will incorporate the necessities, for example, amount request, cost per unit,…
Q: A distribution center experiences an average weekly demand of 50 units for one of its items. The…
A:
Q: Question 10 Consider a supply chain for pizza, where the end product is pizza sold to consumers.…
A: Considering a supply chain for pizza, it is said that the end product is the pizza sold to the…
Q: Question: Please describe the two (2) techniques of order entry in logistics management. Please…
A: the logistic management is consider as a fragment of supply chain management which line up, controls…
Q: Define INVENTORY CONTROL?
A: Inventory management is an important part of the overall supply chain management. Inventory refers…
Q: Demand for portable music players for joggers has caused Nancy Industries (Nancy) to grow almost 50…
A: There are different forecasting techniques are available to predict future values. But for different…
Q: Garden Variety Flower Shop uses 750 clay pots a month. The pots are purchased at $2 each.Annual…
A:
Q: Samsung implements a Continuous Inventory System for an electronic component. The inventory manager…
A: A safety stock item is a product that is held in excess amount in the warehouse to avoid running out…
Q: Over the past 5 weeks, demand for wine at Winston's Winery has averaged 1,940 bottles, and the…
A: The bullwhip effect refers to the fluctuations caused in demand and supply. These fluctuations can…
Q: ROP for constant demand and variable lead time. The motel in the preceding example uses…
A:
Q: 63. Marginal revenue will be negative if elasticity of demand is A. O Less than unity B. O More than…
A: Marginal revenue (MR) is an increase in revenue resulting from the sale of one additional unit of…
Q: 1. The bottleneck operations for manufacturing the chairs is cutting the woods. It is know that it…
A: A process capacity indicating the number of producible item based on the resources and time. A…
Q: Details Company B is a retailer of mobile phones in Australia that works 250 days in a year. The…
A: Formulas used here, EOQ = 2 × Annual Demand × Ordering CostHolding cost Total cost of purchase =…
Q: Inventory Management Reorder The ToyWorld company produces toys out of plastic ordered from an…
A: Given, D= 7800 L=16 s.d= 1050 Reorder point= 134,586.
Q: Problem 13-16 The McDonald's fast-food restaurant on campus sells an average of 4,000 quarter-pound…
A: a)Determine the inventory turnover:
Q: Problem 16-16 (Algo) The McDonald's fast-food restaurant on campus sells an average of 7,200…
A: Planning the inventory levels helps the firm in maintaining stock and avoids wastages.
Q: REQUIRED: Perform analysis for the Ocobee River Rafting Company to determine which alternative would…
A: Break-even analysis is one of the methods that are commonly and widely used in manufacturing…
Q: Haley Photocopying purchases paper from an out-of-state vendor. Average weekly demand for paper is…
A: Average weekly demand = 160 cartons/week Cost = $ 20/carton Safety Stock before the vendor announced…
Q: Annual demand for a product is 8,840 units; weekly demand is 170 units with a standard deviation of…
A: The re-order point is the point at which the company should purchase the new material or resources…
Q: A manager of a firm receives a forecast of a component for the next year. The usage rate of the…
A: Hi, we are supposed to answer 3 subparts at a time. Since you have not mentioned which subpart to…
Q: Haley Photocopying purchases paper from an out-of-state vendor. Average weekly demand for paper is…
A: Average inventory helps in understanding how much company needs to do production by checking the…
Q: Lieutenant Commander Data is planning to make his monthly (every 30 days) trek to Gamma Hydra City…
A: σT+L=30+212=32=5.66 Value of z is 2.054 when the service level is 98%.
Q: Catlea Merchandising is engaged in selling school shoesfor both boys and girls in their teenage…
A: We have Annual demand, D = 32,000 Ordering cost, S = $48 Holding cost, H = $8 Delivery lead time, L…
Q: Cecil Green sells golf shirts. He knows that people will not pay more than $40 for a golf shirt.…
A: Let x be his cost for each hat. Then the requirement is that Since he needs a 35% markup, if c is…
Q: Samsung implements a Continuous Inventory System for an electronic component. The inventory manager…
A:
Q: Required: What is the effect on the average cycle inventory and the pipeline inventory of the…
A: Introduction: The term Business refers to an exchange of goods and services between the buyer and…
Q: ROP for variable demand rate and variable lead time. The motel replaces broken glasses at a rateof…
A: Demand (d) per day = 25 glasses Standard deviation of demand (Sd) = 3 glasses per day Average lead…
Q: Develop a flow chart for revenue cycle of 7/11 (seven-eleven ) retail store
A: In the given question, we are to draw a flow-chart for revenue cycle of 7-Eleven convenience store,…
Q: Haley Photocopying purchases paper from an out-of-state vendor. Average weekly demand for paper is…
A:
Q: Decisions related to planning & control systems of operations ______________. Structure…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Question number: 3 Transportation is the movement of material from one place to another. In supply…
A: The supply chain is the process of distributing goods from the factory or production facility to…
Q: Lieutenant Commander Data is planning to make his monthly (every 30 days) trek to Gamma Hydra City…
A: The value of z is 2.05 from the standard normal distribution table for service level 98%. Hence,…
Q: Haley Photocopying purchases paper from an out-of-state vendor. Average weekly demand for paper is…
A: Given Case: Order quantity = Q1 = 1000 cartons Cycle inventory = Q1 / 2 = 1000 / 2 = 500 cartons…
Q: FlyUs Airlines is unhappy with the number of empty seats onits New York to Philadelphia flight. To…
A: Normal fare, f = $ 169 Discounted fare, d = $ 89 Critical ratio = (f-d)/f =…
Q: The fine Garment company sells fashion clothing. The forecasted annual demand for its premium…
A: Demand(D)=1200 units Setup Cost(S)=$25 Holding Cost(H)=$50
Q: Lieutenant Commander Data is planning to make his monthly (every 30 days) trek to Gamma Hydra City…
A: Given- Daily Demand (d) = 2 per day Standard deviation of Demand (σ)= 1 per day Review Period (P) =…
Q: A coffee roaster in Richardson has opened a retail store adjacent to the production plant. The plant…
A: Formula:
Q: Write short notes on- EOQ, ABC system, cycle service level.
A: BELOW IS THE SOLUTION:-
Q: Corral Cartage leases trucks to service its shipping contracts. Larger trucks have cheaper operating…
A: In the above given case of Corral Cartage the best suited option is payback period method.
Q: Ruby-Star Incorporated is considering two different vendors for one of its top-selling products…
A: Given data• Weekly demand (d) is 50 units• Unit price = $75 per unit• Vender-1 delivers in lot size…
Q: Required: • Set up the linear programming model. • Determine the product mix that produces the…
A: Linear programming is a mathematical technique that is also used in operations management…
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?NING SYSTEM (ACADEMIC) tory Management - Spring21 Time left 1:14:19 Alocal Omani retail store finds out the its competition is ordering 50O kgs each order of a coffee brand. Over years the local Omani store has realized that its competition has adopted an economic ordering quantity (EOQ) policy for ordering. Whereas, local Omani store has determined that it take OMR 25 to order and the annual holding cost is 25% of the price of the coffee brand. The price of the coffee brand is OMR 100 per kg. What is the annual demand for this coffee brand? Round up to the nearest integer None is correct Ob. 100,000 150,000 O d. 90,000 125.000 NEXT PAGE US PAGE
- Question 1: Which of the following best defines " stockout costs"? options: A) They are physical goods used in operations. B) They are costs associated with retrieving inventory items from a workshop C) They are costs associated with interruptions to assembly lines D) They are associated with inventory being unavailable when needed to meet demand. E) None of the above. Question 2 At many LCBO stores in Ontario, Hennessy Cognac is kept in a clear locked case. Based on this information, according to the ABC Inventory Analysis method, is Hennessy most likely to be classified as an A item, a B item, a C item, or none of these? Question 2 options: A) C item B) None C) A item D) B item Question 3 What purpose does Rent the Runway's high-speed reverse logistics system serve? options: A) It allows the customers to return inventory to the fulfillment centre in record time. B) It allows the company to send inventory out to recipients (customers) in record time. C) It allows customers to return…Weekly Average Demand 698 Standard deviation of (weekly) demand 35 Setup cost ($) 1750 Procurement cost ($) 290 Holding cost /unit/week ($) 1 In the provided table, you will find details about the demand and inventory levels of the "Galaxy Explorer" drone, a best-selling product at a department store. The store is open for 42 weeks in a year. The store manager placed an order in the beginning of week 13, and he expects to receive the orders in the beginning of week 15. On average, how many units of "Galaxy Explorer" drone should the store manager expect to sell while waiting for the order to arrive? (Do not round your intermediate calculations. Round your final answers to the nearest whole number. Only enter a number. Do not enter any unitsFranklin Tooling, Inc., manufactures specialty tooling for firms in the paper-making industry. All of their products are engineer-to-order and so the company never knows exactly what components to purchase for a tool until a customer places an order. However, the company believes that weekly demand for a few components is fairly stable. Component 135.AG is one such item. The last 26 weeks of historical use of component 135.AG is recorded below. Week Demand Week Demand 1 2 3 4 5 6 7 8 9 10 11 12 13 137 136 143 136 141 128 149 136 134 142 125 134 118 14 15 16 17 18 19 20 21 22 23 24 25 26 131 132 124 121 127 118 120 115 106 120 113 121 119 Use OM Explorer’s Time Series Forecasting Solver to evaluate the following forecasting methods. Start error measurement in the fifth week, so all methods are evaluated over the same time interval. Use the default settings for initial forecasts.i. Naïve (1-Period Moving Average)ii. 3-Period Moving Averageiii. Exponential Smoothing,…
- ABC analysis on the following set of products Item Annual Demand Unit CostA 211 800 R9B 390 100 R90C 003 450 R6D 100 400 R100E 707 85 R2,000F 660 250 R320G 473 500 R75H 921 100 R75 Soft goods department sells 175 units per month of a certain large bath towel. The unit cost of a towel to the manufacturer is R2.50 and the cost of placing an order has been estimated to be R12.00. There is an inventory carrying charge of 27% of the unit cost per year. What is the optimal order quantity, the order frequency, and the annual holding and setup cost. If the ordering cost can be cut to R4.00, what will be the new economicorder quantity, the order frequency, and annual holding and setup costs.Specialty Toys, Inc., sells a variety of new and innovative children's toys. As with other products, Specialty faces the decision of how may Weather Teddy units to order for coming holiday season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000, 28,000 units. The wide range of order quantities suggested indicates considerable disagreement concerning the market potential. The product management team ask you for analysis of the stock-out probabilities for various order quantities, an estimate of the product potential, and to help make an order quantity recommendation. Specialty expects to sell Weather Teddy for $24 based on cost of $16 per unit. If inventory remains after the holiday season, Specialty will sell all surplus inventory for $5 per unit. After reviewing the sales history of similar products, Specialty%u2019s sales forecaster predicted and expected demand of 20,000 units with a .95 probability that demand would be between 10,000 units and…Which are some of the things that drive variability in demand management and forecasting? 1. MOQs 2. Promotional sales on products 3. Supplier contracting 4. Order fulfillment 5. Network planning 6. None of the above Please give me answer ASAP with clear explanation.
- What is the distinction between simulated and anticipated average demand:Zeus Computer Chips, Inc., used to have major contracts to produce the Centrino-type chips. The market has been declining during the past three years because of the dual-core chips, which it cannot produce, so Zeus has the unpleasant task of forecasting next year. The task is unpleasant because the firm has not been able to find replacement chips for its production lines. Here is demand over the past 12 quarters: TWO LAST THIS YEARS AGO UNITS YEAR UNITS YEAR UNITS 4,805 3,505 4,305 3,005 3,505 2,705 3,490 2,405 3,195 2,105 2,705 1,705 II II II II IV IV IV Use the decomposition technique to forecast demand for the next four quarters. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Period Forecast (Units) II II IV · = = >Problem 20-36 (Algo) Palin’s Muffler Shop has one standard muffler that fits a large variety of cars. The shop wishes to establish a periodic review system to manage inventory of this standard muffler. Use the information in the following table to determine the optimal inventory target level (or order-up-to level). Annual demand 3,910 mufflers Ordering cost $ 75 per order Standard deviation of daily demand 6 mufflers per working day Service probability 87 % Item cost $ 27.00 per muffler Lead time 2 working days Annual holding cost 36 % of item value Working days 230 per year Review period 18 working days a. What is the optimal target level (order-up-to level)? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.) Optimal target level_________________ b. If the…