What is the ending Inventory at the end of Thursday? 300 units 470 units 770 units 1800 units
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- Among the following multi-period inventory models, which one has the highest probability of stockout? A. Fixed Order Quantity with Safety Stock B. Fixed Time Period Model C. Fixed Order Quantity D. Both Fixed Order Quantity & Fixed Order Quantity with Safety StockA bookstore manages the inventory based on a continuous review system with the order quantity Q = 40, and the reorder point = 25. The lead time is 2 days without uncertainty. At the end of day 0, the inventory position = on-hand inventory = 40. The demand in the following five days is 7, 6, 9, 13, and 8, respectively. What is the inventory position at the end of day 5? a. 22 b. 3 c. 43 d. 37A drugstore uses fixed-order cycles for many of the items it stocks. The manager wants a service level of .99. The order interval is 12 days, and lead time is 4 days. Average demand for one item is 63 units per day, and the standard deviation of demand is 6 units per day. Given the on-hand inventory at the reorder time for each order cycle shown in the following table. Use Table. Cycle On Hand 1 38 2 10 3 93 Determine the order quantities for cycles 1, 2, and 3: (Round your answers to the nearest whole number) Cycle Units 1 1019 Numeric ResponseEdit Unavailable. 1019 incorrect. 2 1047 Numeric ResponseEdit Unavailable. 1047 incorrect. 3 964 Numeric ResponseEdit Unavailable. 964 incorrect.
- The two most important inven tory-based questionsanswered by the typical inventory model are:a) when to place an order and the cost of the order.b) when to place an order and how much of an item to order.c) how much of an item to order and the cost of the order.d) how much of an item to order and with whom the order should be placed.Inventory in excess of expected demand to compensate for variability and lead time is_ a. Temporary inventory b. Buffering inventory c. Anticipated stock d. Safety stock inventory e. Seasonal inventorya school consumes liquid detergent annually. see related info, below: D = 408 gallons per year S = $20 H = $15 per gallon range price 1 to 179 $40 180 to 249 37.25 250 or more 37.19 A. initial EOQ (common minimum) is _____ (round up) B. total cost (at initial EOQ) is ___ (2 decimals) C. overall optimal order quantity is ___ show solutions
- Inventory Management .Explain Pro vs. Con:Consider a two-stage plant-retailer supply chain. Lead time for orders is two weeks. Safety stock is equal to one week's demand, and future demand is estimated by the average of the past two weeks. a) Develop production planning model (equations) for the retailer that states the order-up-to rule, and order quantities as a function of time. b) Using a table format (Columns are Week, Starting retail inventory, On order, Order-up-to target, Order quantity, and Demand) track performance of the retailer for eight weeks if demand suddenly shifts from 100 units per week to 110 units per week starting in period 3 and stays at 110 to the end.Instructions There are four parts to this problem. Use Excel to perform the following. a. Use the economic order quantity formula (EOQ = SQRT((2SD/H)) to determine the optimal number of units that the company should order based on each assumed level of order based on each assumed level of order quantities provided in the data. b. Complete the table by calculating the number of orders per year, annual order cost, annual holding cost, and annual total cost. Highlight the minimum annual total cost using conditional formatting. Hint: The minimum cost should equal the cost at the EOQ you calculated in part a. c. Create a line chart that graphs annual order cost, annual holding cost, and annual total cost. The x-axis should be the quantity ordered. Include a chart legend, appropriate chart title, axes labels, and properly formatted amounts on the axes. d. Examine the chart and your responses to parts a and b. Indicate any relationships.
- Consider a two-stage plant-retailer supply chain. Lead time for orders is two weeks. Safety stock is equal to one week's demand, and future demand is estimated by the average of the past two weeks. 1. Develop production planning model (equations) for the retailer that states the order-up- to rule, and order quantities as a function of time. 2. Using a table format (Columns are Week, Starting retail inventory, On order, Order-up-to target, Order quantity, and Demand) track performance of the retailer for eight weeks if demand suddenly shifts from 100 units per week to 110 units per week starting in period 3 and stays at 110 to the end.A product's demand in cach period follows a Normal distribution with mean of 50 and standard deviation of 6. The order up to level S is 225. Lead time is 3 periods. What is the Expected On hand Inventory? Show all formulas used. calculations and results. What is the stock out probability ? Show all formulas used, calculations and results.True or False: "Inventory management primarily deals with the storage and tracking of finished goods."