Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jordin Henry's machine shop uses brackets during the course of a year. These brackets are purchased from a supplier miles away. The following information is

Jordin Henry's machine shop uses brackets during the course of a year. These brackets are purchased from a supplier miles away. The following information is known about the brackets:
Annual demand
Holding cost per bracket per year
Order cost per order
Lead time
days
Working days per year
Part 2
a)
What is the EOQ?
enter your response here units (round your response to two decimal places).
Part 3
b)
What is the average inventory if the EOQ is used?
enter your response here units (round your response to two decimal places).
What would be the annual inventory holding cost?$
enter your response here (round your response to two decimal places).
Part 4
c)
Given the EOQ, how many orders will be made annually?
enter your response here orders (round your response to two decimal places).
What would be the annual order cost?$
enter your response here (round your response to two decimal places).
Part 5
d)
Given the EOQ, what is the total annual cost of managing(ordering and holding) the inventory? $
enter your response here (round your response to two decimal places).
Part 6
e)
What is the time between orders?
enter your response here days (round your response to two decimal places).
Part 7
f)
What is the reorder point(ROP)?
enter your response here units (round your response to two decimal places).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Project Management A Systems Approach to Planning Scheduling and Controlling

Authors: Harold Kerzner

10th Edition

978-047027870, 978-0-470-5038, 470278706, 978-0470278703

More Books

Students also viewed these General Management questions

Question

digital logic design design a sequence detector for 10011

Answered: 1 week ago