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- The company uses cooking oil in its business. The usage of cooking oil is normally distributed with an average of 30 gallons per week and a standard deviation of four gallons per week. The manager asked you to help him decide how to reorder cooking oil in order to achieve a service level of 97.5 percent . Lead time is nine days. a) If cooking oil can be ordered as needed, what reorder point should be used? Answer in 2 decimal places.b) If a fixed interval of 20 days is specified, how much safety stock should the company carry. Answer in 2 decimal places.Please do not give solution in image format thanku Regional Supermarket is open 360 days per year. Daily use of cash register tape averages 10 rolls. Usage appears normally distributed with a standard deviation of 2 rolls per day. The cost of ordering tape is $1 per order, and carrying costs are 40 cents per roll a year. Lead-time is three days. a) Ignoring the demand uncertainty (i.e., looking only at average values), find the economic order quantity (EOQ) and the reorder point (ROP). b) Consider now the uncertainty. The order quantity remains the same. If the target is to have a 99% annual service level, what should be the ROPThomas Kratzer is the purchasing manager for theheadquarters of a large insurance company chain with a centralinventory operation. Thomas’s fastest-moving inventory item hasa demand of 6,000 units per year. The cost of each unit is $100, and the inventory carrying cost is $10 per unit per year. The aver-age ordering cost is $30 per order. It takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (This is acorporate operation, and there are 250 working days per year.)a) What is the EOQ?b) What is the average inventory if the EOQ is used?c) What is the optimal number of orders per year?d) What is the optimal number of days in between any two orders?e) What is the annual cost of ordering and holding inventory?f ) What is the total annual inventory cost, including the cost ofthe 6,000 units?
- Given Information Service Level - 95% (z value= 1.6649) Order Cost - $125Order Cycle (weeks) - 4, 5, 6, 7, 8Lead Time (weeks) - 2 weeksOperating Time - 52 weeks Standard deviation = 69.3237 Variable Holding Cost - 12.019% Fixed Holding Cost - 1,659,317.307 QUESTION: Compute for annual variable holding cost. Formula Given: (EOQ/2) x (Unit cost x Percentage Value of Inventory)As the Manager of Branson’s Department Store, you are responsible for ensuring that reorder quantities for the various items have been correctly established. You decide to test one item and choose product Z. A continuous review inventory policy has been used, so you examine this as well as other records and come up with the following data: Cost per unit $35 Holding cost 20 percent of unit cost Average daily demand 10 units Ordering cost $30 per order Standard deviation of daily demand 3 units Delivery lead time 4 days Because customers generally do not wait but go elsewhere, you decide on a service probability of 90 percent. Assume that Branson’s Department Store operates 320 days per year. [What is the annual demand (D)? Determine the optimal order quantity, Q*. Determine the reorder point (R) if demand is constant. Determine the reorder point (R) if demand is varies.Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. Thomas's fastest-moving inventory item has a demand of 6,000 units per year. The cost of each unit is $105, and the inventory carrying cost is $8 per unit per year. The average ordering cost is $31 per order. It takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (This is a corporate operation, and there are 250 working days per year). a. What is the EOQ?b. What is the average inventory if the EOQ is used?c. What is the optimal number of orders per year?d. What is the optimal number of days in between any two orders?e. What is the annual cost of ordering and holding and holding inventory?f. What is the total annual inventory cost, including cost of the 6,000 units?
- Suppose that R&B Company has a soft drink product that shows a constant annual demand rate of 3600 cases. Ordering costs are $20 per order and holding costs are $0.77. Find the EOQ. Round to two decimal places. __________________ Find the order cost using the EOQ as the quantity. Round to two decimal places. _________________Yellow Press, Inc., buys paper in 1,500-pound rolls for printing. Annual demand is 3,000 rolls. The cost per roll is $1,000, and the annual holding cost is 28 percent of the cost. Each order costs $75. Part 2 a. How many rolls should Yellow Press order at a time? Yellow Press should order enter your response here rolls at a time. (Enter your response rounded to the nearest whole number.) Part 3 b. What is the time between orders? (Assume 200 workdays per year.) The time between orders is enter your response here days. (Enter your response rounded to one decimal place.)At Dot Com, a large retailer of popular books, demand is constant at 20,400 books per year. The cost of placing an order to replenish stock is $75, and the annual cost of holding is $6.00 per book. Stock is received 6 working days after an order has been placed. No backorder is allowed. Assume 250 working days a year. **(Enter your response rounded to the nearest whole number.)** Dot Com's optimal order quantity is ______ books. What is the optimal number of orders per year? What is the optimal enterable quotation in working days quotation between orders? What is the demand during the lead time? What is the reorder Point? What is the inventory position immediately after an order has been placed?
- 20. A large law firm uses a constant 50 reams of copier paper per day. The lead timefor the paper is approximately normal, averages 9 days, and has a standard deviationof 3 days. What reorder point provides a service level of 90%?Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. Thomas's fastest-moving inventory item has a demand of 5850 units per year. The cost of each unit is $103 and the inventory carrying cost is $9 per unit per year. The average ordering cost is $29 per order. It takes about 5 days for an order to arrive, and the demand for 1 week is 117 units. (This is a corporate operation, and there are 250 working days per year).a. What is the EOQ?b) What is the average inventory if the EOQ is used?c) What is the optimal number of orders per year?d) What is the optimal number of days in between any two orders?e) What is the annual cost of ordering and holding inventory?f) What is the total annual inventory cost, including the cost of the 5850 units?Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. Thomas's fastest-moving inventory item has a demand of 5850 units per year. The cost of each unit is $103 and the inventory carrying cost is $9 per unit per year. The average ordering cost is $29 per order. It takes about 5 days for an order to arrive, and the demand for 1 week is 117 units. (This is a corporate operation, and there are 250 working days per year).e) What is the annual cost of ordering and holding inventory?f) What is the total annual inventory cost, including the cost of the 5850 units?
