Michigan state figurine inc msf sells crystal figurines to, Ask an Expert

Management Studies

Michigan State Figurine Inc. (MSF) sells crystal figurines to Spartan fans. MSF buys the figurines from a manufacturer for $14 per unit. They send orders electronically to the manufacturer, costing $25 per order and they experience an average lead time of nine days for each order to arrive from the manufacturer. Their inventory carrying cost is 20 percent. The average daily demand for the figurines is three units per day. They are open for business 250 days a year. Answer the following questions:

a. How many units should the firm order each time? Assume there is no uncertainty at all about the demand or the lead time. (Do not round intermediate calculations. Round your answer to the nearest whole number.)

b. How many orders will they place in a year? (Use your rounded answer from Part a. Round your answer to 2 decimal places.)

c. What is the average inventory? (Use your rounded answer from Part a. Round your answer to 1 decimal place.)

d. What is the annual ordering cost? (Use your rounded answer from Part b. Round your answer to 2 decimal places.)

e. What is the annual inventory carrying cost? (Use your rounded answer from Part a. Round your answer to 2 decimal places.)

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93127585

Have any Question?Write your Review or question?

Related Questions in Operation Management

Identify the given situations below as either expert reward

Identify the given situations below as either: expert, reward, legitimate, coercive or referent. A power can be used more than once. You will need to copy and paste the phrases below into a word document, fill in your re ...

1 is it preferable for aisles to run parallel to the long

1. Is it preferable for aisles to run parallel to the long or the short side of a rectangular warehouse? Why? (Assume a “flow through” layout with receiving and shipping at opposite sides) 2. The external environment tha ...

Introduction x axis is a renowned private cancer hospital

Introduction: X Axis is a renowned private cancer hospital located in Las Vegas. The hospital maintains a critical database that includes patient data for all patients. You are asked to create a BIA based on this databas ...

1 ho do you determine which process improvement tools

1. Ho do you determine which process improvement tools should be used to ensure quality if care in healthcare organisations? What is the cost and return of each approach? 2. Mike Mechanic repaired Alice Ace’s automobile ...

1 saint leo unversity is ranked second in the nation in the

1. Saint leo Unversity is ranked second in the nation in the number of bachelor's degrees in business awarded to African-American students ,why ? 2. What influence does demand have on inventory levels? Is it the same acr ...

1 what is the most important purpose in ldquotime and

1. What is the most important purpose in “Time and Motion Study? 2. How are stable work force, establishing saftey stocks and having regular cycle counts linked in managing customer demands? 3. What are important trends ...

Assume last periodrsquos forecast was 28 and the demand was

Assume last period’s forecast was 28 and the demand was 31. a. What was the forecast error? b. What would be the forecast for the next period using an exponential smoothing model with alpha = 0.8? (Round your answer to t ...

Developing a questionnaire about dessert items purposethe

Developing a Questionnaire about Dessert Items Purpose The regional director of Wally's, a fast-food restaurant, has asked you, the manager of two stores, to survey customers for feedback about dessert items. The purpose ...

Using the below can you please make me abstract summary and

USING THE BELOW CAN YOU PLEASE MAKE ME ABSTRACT, SUMMARY, AND CONCLUSION, AND ? CAN U GIVE CITATIONS AND REFERNCE IF POSSIBLE Performance Evaluation and Corporate Governance Shaw and Barry agree that we have moral “civil ...

For this assignment you will need to complete both parts -

For this assignment, you will need to complete both parts - the analysis and the critique. Press Release Analysis Locate a recent electronic version of a print advertisement. Write a 350- to 700-word analysis that addres ...

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

Recent Questions

Ask Operation Management Expert