Define safety stock and service level? How these two are related to each other?
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- 2. Avondale ice-cream shop in St Catherine's has been buying vegan-custard for its own plant base chunky chocolate passion explosion flavor using EOQ analysis. The supplier has now offered Avondale a discount of $0.50 off all units if the firm will make its purchases monthly or $1.00 off if the firm will make its purchases quarterly. Current data for the problem are: D = 720 units per year; S= $6.00, I= 20% per year; P= $25. (a) What is the EOQ at the current behavior? (b) What is the annual total cost, including product cost, of continuing their current behavior? (c) What are the annual total costs, if they accept either of the proposed discounts? (d) At the cheapest of the total costs, are carrying costs equal to ordering costs? Explain.How would these factors affect an EOQ analysis?(1) The use of just-in-time procedures.Problem #1 Divan Incorporated sells preassembled furniture. Divan Inc buys module materials from its suppliers, who has now offered Divan a discount of $2 off all units if Divan will make a purchase greater than 500 or $5.00 off if the firm will make a purchase of at least 750 units. Current data for the company is: annual demand is 20,000 units per year; setup costs are $50, and I = 20% per year. Original price is $30 (e.g. if Divan purchases between 500 and 749, the price is $28, and if Divan purchases more than 750 units, the price is $25). (a) What are the annual setup costs? (b) What are the annual holding costs? (c) What is the annual total costs?
- Problem #1 Divan Incorporated sells preassembled furniture. Divan Inc buys module materials from its suppliers, who has now offered Divan a discount of $2 off all units if Divan will make a purchase greater than 500 or $5.00 off if the firm will make a purchase of at least 750 units. Current data for the company is: annual demand is 20,000 units per year; setup costs are $50, and I = 20% per year. Original price is $30 (e.g. if Divan purchases between 500 and 749, the price is $28, and if Divan purchases more than 750 units, the price is $25). (a) What is the optimal purchase quantity? (b) What are the annual product costs? (c) What are the annual setup costs? (d) What are the annual holding costs? (e) What is the annual total costs? ===== Problem #2 Hren Electronics is in process of setting a new office building. The following tables show the number of expected communications among the four departments and two possible layouts for considerations (tables 2 and 3 show the…Round Tree Manor is a hotel that provides two types of rooms with three rental classes: Super Saver, Deluxe, and Business. The profit per night for each type of room and rental class is as follows: Room Rental Class Super Saver Deluxe Business $30 $30 Type I Type II Type I rooms do not have high-speed wireless Internet access and are not available for the Business rental class. Round Tree's management makes a forecast of the demand by rental class for each night in the future. A linear programming model developed to maximize profit is used to determine how many reservations to accept for each rental class. The demand forecast for a particular night is 120 rentals in the Super Saver class, 55 in the Deluxe class, and 50 in the Business class. Round Tree has 90 Type I rooms and 120 Type II rooms. $25 $20 $40 (a) Formulate and solve a linear program to determine how many reservations to accept in each rental class and how the reservations should be allocated to room types. Rental Class…Taylor Products distributes two premium kid chairs-Hayden Recliner and Hadley Rocking. Fixed expenses total $390,000 per month. Sales Contribution Margin Ratio Hayden Recliner Hadley Rocking $600,000 $300,000 75% 45% Based on the current sales mix, what is the break-even point in dollar sales for Hayden Reclin O $400,000 $450,000 O $387,000 O $415,000 $392,000
- Explain Vendor-managed inventory?Reactions and additional comments: Per the textbook definition, the term bullwhip effect “Describes the distortions in a supply chain caused by changes in customer demand, resulting in large swings in inventory levels as the orders ripple upstream from the retailer to the distributor and manufacturer” (Wallace, 2020, p. 137). The term is derived from physics. When cracking a whip, someone just has to snap their wrist and it causes a wave like effect that increases with a chain reaction. The bullwhip effect is a term that was first used in the 1990s. The makers of Pampers had many changes in order volumes, when usually diapers were bought at a constant rate (The Bullwhip effect : History and solutions, 2021). This caused the company to receive hard hits in demand with each new order from the retailers. For example, during the Covid-19 pandemic, everyone was told to stay home, go to school from home, and work from home. This caused the need for many more computers and electronic…Calculate available-to-promise quantities.
- Which product represent cash caw, question mark, dog and star in mtn productsThe company L. Houts Plastics is a large manufacturer of injection- molded plastics in North Carolina. An investigation of the company's manufacturing facility in Charlotte yields the information presented in the table below. How would the plant classify these items to an ABC classification system? L. Houts Plastics Charlotte Inventory Levels Item Code # Average Inventory (units) Value ($/unit) 3.75 4.00 2.50 1.50 1.75 2.00 1289 2347 400 300 120 2349 2363 2394 2395 6782 75 60 30 20 1.15 2.05 12 7844 8210 8310 1.80 2.00 3.00 9111 6.Bradley Solutions and Alexander Limited are two well-established suppliers of inexpensive tools. Weekend Projects is a national chain of retail outlets that caters to the occasional fixer-upper who would prefer to get the job done fast rather than investing in a well-appointed tool box. Weekend Projects wants to find a supplier for a particular tool set that promises to be a big seller. Expected annual sales are 100,000 units (D). Weekend's warehouses operate 50 weeks a year. Management collected data on the two suppliers, which are contained in the table below: Annual Freight Costs Shipping Quantity (Q) Price/Unit Annual Holding Lead Time (L) (p) $7.15 $7,15 Annual Supplier Bradley Alexander 10,000 25,000 $40.000 $26.000 50,000 $18.000 Cost/Unit (H) (wks) Administrative Cost $15.000 $1.43 $1.43 $30,000 $25,000 $17,000 6 $10,000 a. Which of the two suppliers would provide the lowest annual cost to Weekend Projects? What shipping quantity would you suggest? Using V and a shipping…