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Category > Business & Finance Posted 20 May 2017 My Price 8.00

A popular item stocked by the Fair Deal Department Store has an annual

A popular item stocked by the Fair Deal Department Store has an annual demand of 600 units. The cost to purchase these units from the supplier is $20 per unit and $12 to prepare the purchase order. The annual inventory holding cost is 20 percent of the purchase cost. The manager tries to maintain the probability of stockout at 5 percent or less. Lead time demand is uniform, between 30 and 70 (i.e., the probability of lead time is 1/41 .0244 for demand 30, 31, . . . , 70).

a. Calculate the EOQ.

b. Calculate the reorder point.

c. Calculate the safety stock.

d. If we purchase 80 units or more, the unit purchase cost is reduced to $19. Calculate the EOQ for this quantity discount case.

 

 

Answers

Alpha Geek
(8)
Status NEW Posted 20 May 2017 06:05 AM My Price 8.00

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Attachments

file 1495263068-1912089_1_636307715353448187_EOQ-with-lead-time-variation.xlsx preview (264 words )
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