The Demand for the 50 Kg Maize meal bag at Shoprite is 4000 units per month, Shoprite incurs a fixed order placement, transportation, and receiving cost of N$ 10 000 each time an order is placed. Each Bag of Maize meal cost Shoprite N$ 800 and the Shoprite has a holding cost of 20 percent as a fraction of unit cost. Calculate the following: (a)EOQ (b)Average Inventory
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The Demand for the 50 Kg Maize meal bag at Shoprite is 4000 units per month, Shoprite incurs a fixed order
placement, transportation, and receiving cost of N$ 10 000 each time an order is placed. Each Bag of Maize
meal cost Shoprite N$ 800 and the Shoprite has a holding cost of 20 percent as a fraction of unit cost.
Calculate the following:
(a)EOQ
(b)Average Inventory
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- Golden Crust Bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags ayear. Preparing an order and receiving a shipment of flour involves a cost of $10 per order.Annual holding costs are $75 per bag. Once an order for flour is placed, it takes six (6) days toreceive the order from the flour factory. The bakery operates 350 days per year.Calculate the following:(i) Economic Order Quantity(ii) Expected number of orders (Order Frequency)(iii) Average inventory(iv) The annual holding cost(v) The annual ordering cost(vi) The total annual cost of inventory management(vii) Reorder point(viii) If holding costs were to increase by $9 per year, how much would thataffect the minimum total annual cost?Define each of the following in your own words and as a formula:a. Annual ordering cost.b. Annual carrying cost.c. Total annual cost.EOQ, reorder point, and safety stock Alexis Company uses 916 units of a product per year on a continuous basis. The product has a fixed cost of $60 per order, and its carrying cost is $3 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days' usage in inventory as a safety stock. a. Calculate the EOQ. b. Determine the average level of inventory. (Note: Use a 365-day year to calculate daily usage.) c. Determine the reorder point. d. Indicate which of the following variables change if the firm does not hold the safety stock: (1) order cost, (2) carrying cost, (3) total inventory cost, (4) reorder point, (5) economic order quantity. a. Alexis' EOQ is units. (Round to the nearest whole number.)
- A sports fan store sells hats. The following are associated characteristics for hats Annual Demand 16000 units Ordering costs $26 Holding costs $4 per unit/year **round all your answers to the nearest whole number a) The EOQ for the hats is b) The annual holding costs for the hats at the EOQ are c) The annual ordering costs for the hats at the EOQ are 2. Antique manufactures old-fashioned telephones for use in movie scenes (and other displays). Antique's annual demand for rotary telephones is 33,000 units per year, so it needs just as many receptors to assemble the phones. Receptors are ordered from a supplier, and shipping and handling costs are $15 per order (regardless of how many units are on order). The holding costs are $7/unit/year. If the current company policy calls for orders of 3,000 receptors, what are the total annual inventory costs for the receptors? round your final answer to the nearest whole dollar.Describe the difference between a fixed-quantity (Q) anda fixed-period (P) inventory system.A company purchases special metal parts to make office furniture in lots of 100 units to satisfy an annual demand of 1600 parts. Holding cost for the parts is 0.3 dollars per unit per month and ordering cost is 40 dollars per order. Answer the following questions: Formulas: a) What is the EOQ? b) What are the costs previously (with 100 units per order) and now with EOQ. Hint: Calculate total holding cost and ordering cost for 100 units, and then same costs with EOQ. Which one (100 units or EOQ) is better in terms of costs? EOQ = SQRT(2Ds/h) THC=h*(Q/2) TOC=s*(D/Q) TC=THC+TOC please answer in excel
- Coffee Company uses 800 units of a product per year on a continuous basis. The product has a Fixed Cost of $50 per order, and its carrying cost is $2 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days’ usage in inventory as a safety stock. Show Computations and Explanations. The EOQ = 200 Units The Average Level of Inventory = 92 Units The Reorder Point = 33 Units A. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Ordering Cost (Format: Change or Do not Change) B. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Carrying Cost (Format: Change or Do not Change) C. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Total Inventory Cost (Format: Change or Do not Change)A videoke bar buys draft beer by the barrel from a local distributor. The bar has an annual demand of 9,000 barrels, which it purchases at a price of P205 per barrel. The annual carrying cost is 12% of the average inventory and the cost per order is P160. The distributor has offered the bar owner a reduced price to P190 per barrel if the owner will order a minimum of 300 barrels per order. What is the EOQ without a discount ? What is the EOQ with discount? Should the bar owner take the offer? What is the net benefit?A local TV repairs shop uses 36,000 units of a part each year (A maximum consumption of 100 units per working day). It costs RM20 to place and receive an order. The shop orders in lots of 400 units. It cost RM4 to carry one unit per year of inventory. Calculate total annual ordering cost Calculate total annual carrying cost Calculate total annual inventory cost Calculate the Economic Order Quantity Calculate the total annual cost inventory cost using EOQ inventory Policy How much is the saving if using EOQ? Compute re-ordering point assuming the lead time is 3 days.
- Peach Company uses 800 units of a product per year on a continuous basis. The product has a Fixed Cost of $50 per order, and its carrying cost is $2 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days’ usage in inventory as a safety stock. Show Computations and Explanations. The EOQ = 200 Units The Average Level of Inventory = 121.92 Units The Reorder Point = 33 Units A. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Reorder Point (Format: Change or Do not Change) B. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Economic Order Quantity (Format: Change or Do not Change)RCR Company has a secret ingredient in its production. This ingredient costs the company P60 each from the supplier and requires 5-day lead time. The ordering cost is P25 per order and the carrying cost per unit is 10% of purchase price. (EOQ is 2,400 units). Use 360 days. Determine the following: a. Annual demandInventory Management Basic EOQ Webber Tools sells power washers and is open for business 320 days a year. It costs the store $3750 each time it places an order with the manufacturer for the washers. The annual cost of carrying a washer in inventory is $400. The manager uses the Basic EOQ Model and forecasts an annual demand for the washers of 1200 units. What is the economic order quantity? What is the total minimum annual inventory cost? What is the average inventory level? How many orders per year will be required? How long is the order cycle time? Now assume the manager does not use the EOQ model. Instead, the manager has been ordering 125 washers at a time. How much money will be saved in annual inventory costs if the company switches to the EOQ (assume no stockouts)?