Question ye olde barrel shop sells oak barrels to a local, Ask an Expert

Management Studies

Question: Ye' Olde Barrel Shop sells oak barrels to a local winery. The Master Cooper would like to reduce her oak lumber inventory by determining the optimal number of oak boards to order. The annual demand averages 55,000 boards and the order cost is $21.00 per order. Holding cost is estimated to be 40%. The purchase cost of each board is $14.00. The standard deviation of daily demand is 5 boards. The standard deviation of lead time is 3.0 days. Assume 268 days in the year and an average lead time of 7 days.

What is the EOQ?

If a service level of 98% is desired during the reorder interval, what is the reorder point? Remember you cannot order partial units. To avoid rounding errors, round to the nearest integer in the LAST step.

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92740801

Have any Question?Write your Review or question?

Related Questions in Operation Management

1 which is the first of the four processes that make up

1. Which is the first of the four processes that make up project procurement management? 2. How does your (current or past) employer create safety awareness? 3. What recommendations would you make to improve or create a ...

Individual learning project instructionsthe individual

Individual Learning Project Instructions The Individual Learning Project is an opportunity for you to evaluate yourself and your role within your organization by completing 10 self-assessment activities. You will begin t ...

Reflect on the learning throughout this course and write a

Reflect on the learning throughout this course, and write a three- to four-paragraph response to the following: Describe and explain what you believe are the top three most important corporate taxation concepts you learn ...

Need 1500 words give full answer pleasecompany wal-mart

Need 1500 words give full answer please Company: Wal-Mart (write on the following guidline) 1. Define the process: its start, end, and what it does. 2. Describe the process: list the key tasks performed and sequence of s ...

1 the manifestation of the substance of a contract by two

1. The manifestation of the substance of a contract by two or more individuals is called __________. an agreement an offer consideration acceptance 2. Which of the following scenarios is an example of law and ethics cont ...

1 consider a three-stage process with the stage named as

1. Consider a three-stage process with the stage named as Process A, Process B and Process C. Input comes into Process A. Output form A goes into Process B. Output from B goes into Process C. Output of C is the final out ...

Maker manufactures printing presses news a publisher of a

Maker manufactures printing presses. News, a publisher of a local newspaper, had decided to purchase new presses. Rep, a representative of Maker, met with Boss, the president of News, to describe the advantages of Maker' ...

1 where do producer services tend to locate ie finance

1. Where do producer services tend to locate (i.e finance, insurance, real estate, legal, advertising,engineering)? Why? Provide example of the US, Europe, China, and India. 2. It takes a dentist 20 minutes to see one pa ...

1 how are trends in layout design affecting retail and

1. How are trends in layout design affecting retail and restaurant environments? Give at least one example from each environment. Cite your sources please. 2. List and describe the five major ways of achieving workplace ...

1 from the perspective of the consumer how has technology

1. From the perspective of the consumer, how has technology has changed production, manufacturing and services? How has technology affected workers, the labor market, and unemployment? 2. How have jobs, and the necessary ...

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