Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 05 Jun 2017 My Price 11.00

automotive section of Nichols Department

It is your responsibility, as the new head of the automotive section of Nichols Department

Store, to ensure that reorder quantities for the various items have been correctly established. You decide to test one item and choose Michelin tires, XW size 185 × 14 BSW. A perpetual inventory system has been used, so you examine this as well as other records and come up with the following data:

 

 

Cost per tire

$35 each

Holding cost

20 percent of tire cost per year

Demand

1,000 per year

Ordering cost

$20 per order

Standard deviation of daily demand

3 tires

Delivery lead time

4 days

 

Because customers generally do not wait for tires but go elsewhere, you decide on a service probability of 98 percent. Assume the demand occurs 365 days per year.

a. Determine the order quantity.

b. Determine the reorder point.

Answers

Maurice Tutor
(5)
Status NEW Posted 05 Jun 2017 08:06 PM My Price 11.00

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