inventory management
Project Description:
ch4 inventory management
discussion questions and problems
1. the basic reorder point assumes you will order as soon as you reach the reorder point. what happens if the item is only one of several that is ordered from the same supplier. discuss how joint replenishment from a single supplier might alter your inventory model.
2. describe the type of inventory policy you might find in each of the following operations, and describe why – a hospital, a cafeteria, an automobile repair facility, a bakery, and a dental office.
3. one of the products stocked by joe's club is joescola, which is sold in cases. the demand level for joescola is highly seasonal.
• during the slow season, the demand rate is approximately 650 cases a month, which is the same as a yearly demand rate of 650*12 = 7800 cases.
• during the busy season, the demand rate is approximately 1300 cases a month, or 15,600 cases a year.
• the cost to place an order is $5, and the yearly holding cost for a case of joescola is $12.
(a) according to the eoq formula, how many cases of joescola should be ordered at a time during the slow season? how many cases of joescola should be ordered during the busy season?
(b) suppose joe's club decides to use the same order quantity throughout the year, resulting in an order quantity of 150 units. calculate total holding and ordering costs for the year. do not consider safety stock in your calculations. to do your calculations, annual demand can be calculated as an average of the slow and busy rates given above.
answer the following question. need the answers by november 15, 2015
discussion questions and problems
1. the basic reorder point assumes you will order as soon as you reach the reorder point. what happens if the item is only one of several that is ordered from the same supplier. discuss how joint replenishment from a single supplier might alter your inventory model.
2. describe the type of inventory policy you might find in each of the following operations, and describe why – a hospital, a cafeteria, an automobile repair facility, a bakery, and a dental office.
3. one of the products stocked by joe's club is joescola, which is sold in cases. the demand level for joescola is highly seasonal.
• during the slow season, the demand rate is approximately 650 cases a month, which is the same as a yearly demand rate of 650*12 = 7800 cases.
• during the busy season, the demand rate is approximately 1300 cases a month, or 15,600 cases a year.
• the cost to place an order is $5, and the yearly holding cost for a case of joescola is $12.
(a) according to the eoq formula, how many cases of joescola should be ordered at a time during the slow season? how many cases of joescola should be ordered during the busy season?
(b) suppose joe's club decides to use the same order quantity throughout the year, resulting in an order quantity of 150 units. calculate total holding and ordering costs for the year. do not consider safety stock in your calculations. to do your calculations, annual demand can be calculated as an average of the slow and busy rates given above.
answer the following question. need the answers by november 15, 2015
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Project Stats:
Price Type: Fixed
Project Budget:
$10 to $20
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Total Proposals: 2
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