Feels Like 98 has is deciding between two suppliers (A and B) for purchasing bags of barley. The brewery has forecasted that it will require 16,000 bags of barley each year. Demand is relatively constant through the year and the company estimates that it costs $25 for it to place an order with a supplier. Feels Like 98's accountant (Sara) has also calculated that it should use a holding cost that is 20% of the cost of a bag of barley. The two suppliers have given the brewery's supplier relationship coordinator (Ted) a price schedule for bags of barley. Use the information above and price schedules below to complete questions 1 through 3 below
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Need a and b
a. What is the minimum TAIC for supplier B?
b. What order quantity would minimize the TAIC for Feel Like 98?
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- Buckley Enterprise sells a product that cost $450 per unit and has a monthly demand of 5,000units. The annual holding cost per unit is calculated as 5% of the unit purchase price. It costs thebusiness $75 to place a single order. Currently the business places 12 orders each year.i) What is the total stock administrative cost of Buckley’s current inventory policy?ii) Is this the entity’s cost minimizing solution for this product each year? Explain.A car manufacturer has holding costs of 37%. One of the items needed in the factory is door handles. For every order, the facotry incurs a fixed cost of $59.00. The manufacturer needs annually 1,900 of the door handles. The door handles supplier offers a price of $11.00 each for quantities of 350 or fewer and a price of $10.23 for quantities over 350 units. Round your answer to the nearest integer value. How many units should the manufacturer order at one time? units What is the total annual cost at this order point?Letherin Hides is a company that makes boots specifically targeting college students. Forecasts of sales for the next year are 200 in the summer, 450 in the fall, and 500 in the winter. Accessories that are used on the boots are purchased from a supplier for $31.66. The cost of capital is estimated to be 24% per year (or 6% per quarter); thus, the holding cost per item is 0.06(31.66)=$1.9 per quarter (rounded figure). Letherin Hides hires freelance art designers at part-time to craft designs during the summer, and they earn $6.00 per hour. In the fall, labor is more difficult to keep, and the owner must pay $6.50 per hour to retain qualified help. Because of the high demand for part-time help during the winter holiday season, labor rates are higher in the winter, and workers earn $7.75 per hour. Each boot design takes 2 hours to complete. How should production be planned over the three quarters to minimize the combined production and inventory holding costs? The table below provides…
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