8. James Beerd bakes cheesecakes and Black Forest cakes. During any month, he can bake atmost 65 cakes. The costs per cake and the demands for cakes, which must be met on time,are listed in the Table. It costs 50¢ to hold a cheesecake, and 40¢ to hold a Black Forestcake, in inventory for a month. Formulate an LP to minimize the total cost of meeting thenext three months' demands.Month 3Cost/Cake (S)Month 1Month 2ItemDemandCast/Cake (S)DemandCest/Cake ($)DemandCheesecake403.00303.40203.80Black Forest202.50302.80103.40

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Answered: 8. James Beerd bakes cheesecakes and…

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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2.)Birka Styles & Co is introducing a new line of beachwear for their retail stores. The manager needs to decide how many lots of the new beachwear to order for their stores. The marketing came up with a payoff table (see below) considering information about the price, projected sales level, and cost of inventory and ordering. DEMAND Order size Low Medium High 1 lot 12,000 15,000 15,000 2 lots 9,000 25,000 35,000 3 lots 6,000 35,000 60,000 A)If the owner of Birka Styles & Co is an optimist, how many lots should the manager order? B)If the owner of Birka Styles & Co is a pessimist, how many lots should the manager order? C)The owner wants to use minimax regret. How many lots should the manager order?
6. Leaky Pipe, a local retailer of plumbing supplies, faces demand for one of its SKUs at a constant rate of 17,000 units per year. It costs Leaky Pipe $5 to process an order to replenish stock and $2.00 per unit per year to carry the item in stock. Stock is received 12 working days after an order is placed. No backordering is allowed. Assume 365 working days a year. a. Leaky Pipe's optimal order quantity is ______ units. (Enter your response rounded to the nearest whole number.) Part 3 b. The optimal number of orders per year is _____ orders. (Enter your response rounded to the nearest whole number.) Part 4 c. The optimal interval (in working days) between orders is ______ days. (Enter your response rounded to one decimal place.)
11. Unik hotel has the available capacity of 500 deluxe rooms, and the margin for each room is $100. The Christmas season is coming and the hotel opens booking from customers and must decide on how many orders to commit to at this time. If the hotel has orders that exceed capacity, it must arrange to upgrade the room for guests, which results in a loss of $50 per room. 2. What is the overbooking level should the hotel accept if cancellations are normally distributed, with a mean of 20 per cent of the orders accepted and a coefficient of variation of 0.5? OA) 142 B) 158 O C) 161 OD) 173
2.1 Determine the EOQ of an item for spares inventory replenishment, where: a) The cost per unit is R 1500 b) The cost of preparing for a shipment and sending a truck to the warehouse is R750 c) The estimated cost of holding the inventory, including capital tied up, is 25% of the initial inventory value d) The annual demand is 250 units and the cost per order and inventory carrying charge is fixed. 2.2 An equipment is made up of 30 components of the same part with a predicted mean failure frequency of 1500 hours. The equipment operates 24 hours a day and spares are provisioned at 60-day intervals. a) How many spares should be carried in inventory to ensure 96% probability of having a spare available when required.
Demand for portable music players for joggers has caused Nancy Industries (Nancy) to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nancy expects demand for music player to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demands for the players for last year was as follows : Month Demand (units) Jan 4200 Feb 4300 Mar 4000 Apr 4400 May 5000 Jun 4700 Jul 5300 Aug 4900 Sep 5400 Oct 5700 Nov 6300 Dec 6000 Question : From the choice of simple moving average, weighted moving average, exponential smoothing, and linear regression analysis, which forecasting technique would you consider the most accurate to Nancy Industries? Why?
Q3. Suppose that a publishing company periodically replenish its supply of paper stock. The paper comes in large rolls and that the printer uses 90 rolls per quarterly. The cost of one roll paper is OMR 150. The cost of replenishment is OMR 10 per order. The cost of keeping the paper on hand, including rent for space occupied, insurance, and interest on the capital tied up is 10 percent per roll per year. Calculate: 1)The EOQ. 2)No. of orders in a year, and 3)Time between two successive orders 4)Average yearly cost of Inventory 4)Total inventory cost 5)Total Cost
Differentiate between economic order quantity and economic production quantity..
a. Determine an A-B-C classification for these items:Item Unit Cost Annual Volume (00)1 $100 252 80 303 15 604 50 105 11 706 60 857 10 60b. Find the EOQ given this information: D = 4,500 units/year, S = $36, and H = $10 per unit per year.c. Find the economic production quantity given this information.D = 18,000 units/year, S = $100, H = $40 per unit per year, p = 120 units per day,and u = 90 units/day
16. Cheryl Hunter is responsible for maintaining adequate hospital supplies atfictional St. Thomas Hospital. The demand and lead times for syringes are assumedto be constant. During the past year, the daily demand for syringes was 80 units, andthe lead time from the supplier was 4 days. What is the reorder point?
Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods The units of an item available for sale during the year were as follows: 12 units at $47 Jan. 11 Aug. 13 20 units at $48 Nov. 30 $564 960 735 Avaliable for sale $2,259 There are 20 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-sout (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a First-in, first-out (FIFO) b. Last-in, first-out (LIFO) c. Weighted average cost Inventory Purchase Purchase 15 units at $49 47 units 1,284 X
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.
The local supermarket buys lettuce each day to ensure really fresh produce. Each morning, any lettuce that is left from the previous day is sold to a dealer that resells it to farmers who use it to feed their animals. This week, the supermarket can buy fresh lettuce for $10.00 a box. The lettuce is sold for $21.00 a box and the dealer that sells old lettuce is willing to pay $2.00 a box. Past history says that tomorrow's demand for lettuce averages 262 boxes with a standard deviation of 43 boxes. How many boxes of lettuce should the supermarket purchase tomorrow? Note: Use Excel's NORM.S.INV() function to find the z value. Round your answer to the nearest whole number. Number of boxes

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