Question: PLEASE HELP ME WITH THIS PROBLEM. PLEASE SHOW ALL STEPS ON HOW TO GET TO THE ANSWER. SHOW ALL WORK, I DON'T UNDERSTAND IT. THANK

PLEASE HELP ME WITH THIS PROBLEM. PLEASE SHOW ALL STEPS ON HOW TO GET TO THE ANSWER. SHOW ALL WORK, I DON'T UNDERSTAND IT. THANK YOU!!

Show all steps of how to get each number and percent. If you use excel, then please show the breakdown of the formula used. THANK YOU!!

________________________________PLEASE HELP WITH D, E, F________________

e) What is the annual cost of ordering and holding inventory?_____________per year (round your response to two decimal places).

f) What is the total annual inventory cost, including the cost of the 6000 units? _______________ per year ((round your response to two decimal places)

PLEASE HELP ME WITH THIS PROBLEM. PLEASE SHOW ALL

Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. Thomas's fastest-moving inventory item has a demand of 6,000 units per year. The cost of each unit is $101, and the inventory carrying cost is $9 per unit per year. The average ordering cost is $29 per order. It takes about 5 days for an order to arrive, and the demand for 1 week is 120 units. (This is a corporate operation, and there are 250 working days per year). a) What is the EOQ? 196.64 units (round your response to two decimal places). b) What is the average inventory if the EOQ is used? 98.32 units (round your response to two decimal places). c) What is the optimal number of orders per year? 30.51 orders (round your response to two decimal places). d) What is the optimal number of days in between any two orders? days (round your response to two decimal places)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!