INVENTORY CONTROL - TUTORIAL Course Code : MEE1024 Faculty Name : Dr.S.Narayanan Class number : VL2021220503293...

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INVENTORY CONTROL - TUTORIAL Course Code : MEE1024 Faculty Name : Dr.S.Narayanan Class number : VL2021220503293 Course Name Slot : Operations Research : A1+TA1+VI 1. A company uses rivets at an approximate customer rate of 2500 kg per year. Each unit costs Rs.30 per kg and the company personnel estimate that it costs Rs. 130 to place an order, and that the carrying cost of inventory is 10 per cent per year. How frequently should orders for rivets be placed? Also, determine the optimum size of each order? optimum size=466 kg; to = 0.186 years 2. An item is produced at the rate of 50 items/day. The demand occurs at the rate of 25 items/day, if the setup cost is Rs. 106/run and the inventory cost is Re. 0.01/unit/day. Find the economic lot size, the cycle time and the manufacturing time. qo 1030 units; t = 21 days; to = 42 days 3. The probability density of demand of a certain item during a week to be: f(x) = 0.1, 0x 10 The demand is assumed to occur with a uniform pattern over the week. The unit carrying cost of the item in inventory is Rs.2/week and the unit shortage cost is Rs.8/week. Determine the optimal order level of the inventory. optimal order level = 8 items. INVENTORY CONTROL - TUTORIAL Course Code : MEE1024 Faculty Name : Dr.S.Narayanan Class number : VL2021220503293 Course Name Slot : Operations Research : A1+TA1+VI 1. A company uses rivets at an approximate customer rate of 2500 kg per year. Each unit costs Rs.30 per kg and the company personnel estimate that it costs Rs. 130 to place an order, and that the carrying cost of inventory is 10 per cent per year. How frequently should orders for rivets be placed? Also, determine the optimum size of each order? optimum size=466 kg; to = 0.186 years 2. An item is produced at the rate of 50 items/day. The demand occurs at the rate of 25 items/day, if the setup cost is Rs. 106/run and the inventory cost is Re. 0.01/unit/day. Find the economic lot size, the cycle time and the manufacturing time. qo 1030 units; t = 21 days; to = 42 days 3. The probability density of demand of a certain item during a week to be: f(x) = 0.1, 0x 10 The demand is assumed to occur with a uniform pattern over the week. The unit carrying cost of the item in inventory is Rs.2/week and the unit shortage cost is Rs.8/week. Determine the optimal order level of the inventory. optimal order level = 8 items.