Ram Roy's firm has developed the following supply, demand, cost, and inventory data.Supply AvailablePeriod1W N3RegularTime303540Overtime151520Initial inventoryRegular-time cost per unitOvertime cost per unitSubcontract101010Subcontract cost per unitCarrying cost per unit per month20 units$100$160$250$2DemandForecast405560Assume that the initial inventory has no holding cost in the first period and backordersare not permitted.Allocating production capacity to meet demand at a minimum cost using thetransportation method, the total cost is $ (enter your response as a whole number).

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Answered: Ram Roy's firm has developed the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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The annual demand for an automobile part is 3200 units. The unit cost is 60 OMR and inventory carrying charge is 25% of unit cost. Ordering cost is 20 OMR per order. (i) Determine the economic order point (ii) If you place an order for 110 units every time, is it profit or loss? How much and Why? (iii) Why demand forecasting is important for an organization? Compare qualitative and quantitative forecasting technique with an example.
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is used by traders to record the yearly profits & losses of the business. * General book Correspondence Inventory book Daybook
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If the company in #8 uses exponential smoothing (smoothing factor = .6) and the forecast for the year is the figure they use for EOQ calculations, calculate the EOQ using the following information: The cost of ordering and carrying cost % are the same as #7 Cost of ordering: $25 Carrying costs: 45% Starting with 2018, Forecast the 2020 demand using exponential smoothing and then use that forecast as the annual demand. year sales 2017 1,000,000 2018 1,200,000 2019 2,000,000 2020
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The following particulars were collected for the year 2015 from Need LLCMonthly demand -2,000 unitsCost of placing an order RO 225.Annual carrying cost per unit 8%Purchase price of input unit RO 350Minimum usage 30 units per weekMaximum usage 50 units per weekRe-order period 6 to 8 weeks.For emergency purchase 4 weeks Required:(a) Re-order quantity(b) Re-order level(c) Minimum level(d) Maximum level(e) Average Stock Level(f) Danger level

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Ram Roy's firm has developed the following supply, demand, cost, and inventory data. Supply Available Period 1 2 2 Regular Time 30 35 10 Overtime 15 15 20 Subcontract 10 10 10 Demand Forecast 40 55 60