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Operations Management

Operations Management

Assignment 7: Inventory Control

I would like like the solution “step by step”

 

The manager of a construction firm has determined from historical records that demand for cement averages 5 tons per week with a standard deviation of 3 tons. The supply lead time is 4 weeks. The cost of a ton of cement is $100 and inventory carrying cost is estimated at an annual rate of 30%. The cost of placing an order is $96.

 [Assume 50 weeks in a year.]

 

Compute the following:

 

a.       Economic order quantity

 

b.      Number of orders per year

 

c.       Cycle length (i.e., number of weeks between consecutive orders)

 

d.      Average inventory level

 

e.      Total annual cost of ordering + inventory carrying

 

f.        Compute the reorder point and the corresponding safety stock for each of the following service levels:

 

                                  i.            90%

 

                                 ii.            95%

 

                               iii.            99%

 

                               iv.            99.9%

 

                     v.       99.99%

 

 

 

Just in case you need an assignment done, hire us. Using our writing services will make your life easier because we deliver exceptional results. Use us to get an A!

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course-preview

275 words per page

You essay will be 275 words per page. Tell your writer how many words you need, or the pages.


12 pt Times New Roman

Unless otherwise stated, we use 12pt Arial/Times New Roman as the font for your paper.


Double line spacing

Your essay will have double spaced text. View our sample essays.


Any citation style

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We Accept

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Image 3

Operations Management

Operations Management

Assignment 7: Inventory Control

I would like like the solution “step by step”

 

The manager of a construction firm has determined from historical records that demand for cement averages 5 tons per week with a standard deviation of 3 tons. The supply lead time is 4 weeks. The cost of a ton of cement is $100 and inventory carrying cost is estimated at an annual rate of 30%. The cost of placing an order is $96.

 [Assume 50 weeks in a year.]

 

Compute the following:

 

a.       Economic order quantity

 

b.      Number of orders per year

 

c.       Cycle length (i.e., number of weeks between consecutive orders)

 

d.      Average inventory level

 

e.      Total annual cost of ordering + inventory carrying

 

f.        Compute the reorder point and the corresponding safety stock for each of the following service levels:

 

                                  i.            90%

 

                                 ii.            95%

 

                               iii.            99%

 

                               iv.            99.9%

 

                     v.       99.99%

 

 

 

Just in case you need an assignment done, hire us. Using our writing services will make your life easier because we deliver exceptional results. Use us to get an A!

We are the Best!

course-preview

275 words per page

You essay will be 275 words per page. Tell your writer how many words you need, or the pages.


12 pt Times New Roman

Unless otherwise stated, we use 12pt Arial/Times New Roman as the font for your paper.


Double line spacing

Your essay will have double spaced text. View our sample essays.


Any citation style

APA, MLA, Chicago/Turabian, Harvard, our writers are experts at formatting.


We Accept

Secure Payment
Image 3