Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Management Theories Expert

problem1. describe how carrying cost affects inventory in any organisation. Use exs to illustrate your answer.
 
problem2. An organisation is planning to introduce an inventory system to manage the annual demand for stationary namely, reams of A4 paper. The daily usage rate for reams of A4 paper appears to be distributed, with mean 25 and standard deviation 3. Once an order is placed, it takes 7 working days before delivery is made and the organisation operates throughout the year. The cost of a ream of A4 paper is valued at approximately Rs12 and the organisation estimates that the carrying cost is 25% of the unit cost. The operations manager has made a study of the costs involved in placing and processing an order from the supplier, and concluded that the average ordering cost is Rs25 per order.

(a) Under the above assumptions, what is the economic order quantity?

(b) What is the expected number of orders to be placed each year?

(c) What is the total annual cost associated with your recommended EOQ?

(d) The organisation is concerned about stockouts of such a basic item and, thus, desires a 97% service level. What safety stock should the organisation maintain using the above information?

(e) find out the reorder point to be used.

(f) Suppose that an ordering cost of only Rs15 had been used instead of Rs25.

(i) What is the order size now?

(ii) How would the total cost have changed?

Management Theories, Management Studies

  • Category:- Management Theories
  • Reference No.:- M95754

Have any Question? 


Related Questions in Management Theories

1 what is coso and why is it important search the internet

1. What is COSO, and why is it important? Search the Internet for the term "Treadway Commission." What was the Treadway Commission, and what is its major legacy in the field of InfoSec? 2. Search the Internet for the ter ...

Global supply chain managementquestion think of an idea you

Global Supply Chain Management Question: Think of an idea you are passionate about. How would you sell your idea to a high content versus low content culture? How about a low power distance versus high power distance cul ...

Discussionconduct independent research to find a targeted

Discussion Conduct independent research to find a targeted recruiting strategy. Discuss each question separately. Include the 5 HEADINGS (in-bold) below in your response: Describe the strategy? Who does it target? Does i ...

Term paperyou will write an individual term paper on a

Term Paper: You will write an individual term paper on a topic of your choice. To find a topic I suggest you look at the chapters.  Pay attention to the major themes and concepts discussed in the chapters and ask what yo ...

Assignmentone of the reasons you were recently hired as the

Assignment One of the reasons you were recently hired as the manager of global supply chain was the continuing problems the firm faces with a number of its important suppliers of raw materials. Typical issues were late d ...

The fine garments company sells fashion clothing the

The Fine Garments Company sells fashion clothing. The forecasted annual demand for their premium leather jacket is 2,000. The order-processing cost per order is $40, and the inventory holding cost is $35/item/year. How m ...

Global supply chain managementread the 2 passages which i

Global Supply Chain Management READ THE 2 PASSAGES WHICH I GAVE IN ATTACHMENT AND GIVE ANSWERS TO QUESTIONS THIS PAPER SHOULD BE 3 PAGES IT IS SAFEASSIGN CASE STUDY FORMAT Analysis/Responses to Questions (Total of 3 sing ...

Global supply chain managementthink of a product you are

Global Supply Chain Management Think of a product you are familiar with-the clothes you are wearing or the beverage you just drank or the book you are reading. Identify the challenges that would be involved in distributi ...

Assignment sustainable talent managementwith the same

Assignment: Sustainable Talent Management With the same talent management strategy in mind from Assignment 3, write a six (6) page paper in which you: 1. Determine which performance management process you will employ to ...

Management care environments and payment systems -

Management Care Environments and Payment Systems - Discussion The following Discussion will help you to prepare for part of your Unit 2 Quiz. 1. Describe the major third-party payers and the characteristics of managed ca ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro