Question
For questions we assume there are 52 weeks in a year and 4 weeks in a month. Q1-Q2 Jack is planning on selling cake in
For questions we assume there are 52 weeks in a year and 4 weeks in a month.
Q1-Q2
Jack is planning on selling cake in Moon Festival. The cost of a moon cake is $2.5 and Jack can sell it for $5. After the Moon Festival, Jack has to reduce the price to $1.5.Jack forecast the demand to be normally distributed with mean of 200 and standard deviation of 40.
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- What is the unit cost of ordering too many moon cakes?
- $1
- $3.5
- $2
- $2.5
- How many should Jack order?
- 223
- 151
- 100
- 12
Q3-5
Suppose the demand for the next 3 weeks are given in the table.
Period | 1 | 2 | 3 |
Demand | 10 | 20 | 30 |
The fixed setup cost is $100 and the inventory cost is $1 per unit per week. Use the W-W procedure to complete the following table.
Last period with Production | Planning Horizon t | ||
1 | 2 | 3 | |
1 | 100 | A | 180 |
2 | 200 | ? | |
3 | 220 | ||
Z*t | B | ||
J*t | C |
- What is A?
- 140
- 110
- 120
- 220
- What is B?
- 220
- 160
- 180
- 145
- What is C?
- 1
- 2
- 3
- 180
Q6-Q8
Jack is managing an audio equipment store. Suppose the demand for a Cary Audio SLI-80 Amplifier is 5 per week. The unit cost is $3000. Every time Jack order from the Cary Audio, he has to pay the fix shipping fee of $600. The capital cost for Jack is 1% per month.
- What is the holding cost per unit per week?
- $3
- $1.5
- $7.5
- $0.6
- How many should Jack order to minimize the total inventory cost if the order quantity does not have to be integer?
- 28.28
- 14.14
- 20
- 45
- What is the optimal order interval if Jack orders the EOQ?
- 1.4142 month
- 0.8 month
- 1.01 month
- 1.4 month
The demand and scheduled receipt for product A is given in the following table. At the beginning, there are 20 units on hand inventory.The lot sizing rule for part A is fixed order quantity with Q =45, and the lead time is two week. Complete the following MPS table.
Part A | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | |
Gross requirement | 15 | 20 | 50 | 5 | 30 | 15 | 30 | 30 | |
Scheduled receipts | 20 | 45 | |||||||
Projected on-hand | |||||||||
Net requirement | |||||||||
Planned order receipts | |||||||||
Planned order release | |||||||||
- What are the planned order releases?
- 0,45,0,0,45,0,45,0
- 0,45,0,45,0,45,0,0
- 15,0,5,5,30,15,30,30
- none of above
Jack is evaluating two technologies. The fixed cost of technology A is $500 and there is 50% of the chance the variable cost will be $10 and 50% of the chance the variable cost will be 8. For technology B. The fixed cost is $1000 and there is 40% of the chance the variable cost will be $8 and 60% of the chance the variable cost will be 5. Jack predicts that the life cycle production volume is 200 units.
- What is the Expected Monetary Value of technology A?
- -1800
- -2900
- -2300
- -3500
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