Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The World Retailer Company is a apparel retailer with stores worldwide. It manufactures many of its items in four countries in Asia and transports them

The World Retailer Company is a apparel retailer with stores worldwide. It manufactures many of its items in four countries in Asia and transports them to four major ports in Japan, China, India, and Korea - where they are loaded into shipping containers for monthly shipment overseas to U.S. distribution. The company requires 100 total containers and the available containers at each port, the monthly leasing cost per container, the shipping time from each port to the United States, and the average percent damage historically incurred at each port are shown in the following table. Countries Available Containers Container Cost ($) Shipping Time (Days) Percent Damage (%) Japan 34 305 22 3 China 38 245 20 2.5 India 35 265 29 4 Korea 31 225 19 3 The company wants the average shipping time per container to be 21 days or less and the average damaged per container to be 3.5 percent or less. (Hint: if the average time per container is 24 days - what would be total shipping time for all 100 containers?) How many containers should be shipped from each port to minimize costs? SOLUTION: The optimal solution, the value of the cost, should be $25,380. All

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_2

Step: 3

blur-text-image_3

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

Accounting, The Financial Chapters

Authors: Tracie Miller Nobles

12th Edition

013449041X, 9780134490410

More Books

Students also viewed these Accounting questions

Question

5. It is the needs of the individual that are important.

Answered: 1 week ago