Inventory Management Multiple Choice Questions 60. Which of the following is not one of the assumptions of the basic EOQ model? A. Annual demand requirements are known and constant. B. Lead time does not vary. C. Each order is received in a single delivery. D. Quantity discounts are available. E. All of the above are necessary assumptions. Difficulty: Medium TLO: 6 Taxonomy: Knowledge 61. Which is an application for RFID tags? A. Monitoring the temperature of fruit during shipment B
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table‚ classify the items in A‚ B and C categories according to dollar usage: Item Usage Unit Cost 4021 90 $1‚400 9402 300 12 4066 30 700 6500 150 20 9280 10 1‚020 4050 80 140 6850 2‚000 10 3010 400 20 4400 5‚000 5 a) In descending order: Item Usage x Cost 4021 $126‚000 Category A 4400 4066 6850 25‚000 21‚000 20‚000 B B B 4050 9280 3010 9402 6500 11‚200 10‚200 8‚000 3‚600 3‚000 228‚000 C C C C C b) Determine percentage of items in each
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Administration‚ University of Ilorin‚ P.M.B 1515‚ Ilorin‚ Kwara State‚ Nigeria **Department of Management Science‚ Ladoke Akintola University of Technology‚ Ogbomoso‚ P.O.BOX 4000‚ Oyo State‚ Nigeria KEYWORDS Optimization. Resources. Efficiency. Economic Order Quantity. Demand and Sales. Production ABSTRACT Inventory constitutes the most significant part of current assets of larger majority of Nigerian manufacturing industries. Because of the relative largeness of inventories maintained by most firms‚ a
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Campus A basic problem for businesses and manufacturers is‚ when ordering supplies‚ to determine what quantity of a given item to order. A great deal of literature has dealt with this problem (unfortunately many of the best books on the subject are out of print). Many formulas and algorithms have been created. Of these the simplest formula is the most used: The EOQ (economic order quantity) or Lot Size formula. The EOQ formula has been independently discovered many times in the last eighty years
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Trans-Atlantic Publication. USA SP Gupta‚ Ajay Sharma‚ Satish Ahuja Suarez‚ F.‚ Cusamano‚ M.‚ and Fine‚ C. (1995)‚ “An empirical study of flexibility in manufacturing”‚ Sloan Management Review‚ Fall‚ pp. 25-32. Sullivan‚ Arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River‚ New Jersey 07458: Pearson Prentice Hall. p. 16. ISBN 0-13-063085-3. Vickery‚ S. and Calantone‚ R. (1999)‚ “Supply chain flexibility: An empirical study‚ The Journal of Supply Chain Management‚ National Association
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Optimization Modeling for Inventory Logistics Engineering & Technology Management ETM 540 – Operations Research in Engineering and Technology Management Fall 2013 Portland State University Dr. Tim Anderson Team: Logistics Noppadon Vannaprapa Philip Bottjen Rodney Danskin Srujana Penmetsa Joseph Lethlean Optimization Modeling for Inventory Logistics Contents Abstract .............................................................................................................
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Nowadays every sector needs to keep important customer demands before many things in the system because if company provides meeting the demands of customer‚ then they turn into loyal consumers which means money. In order to balance or managing inventory system‚ Consolidated Electric aims maximize customer service and minimize cost of these arrangements. Firstly they totally change their on-hand system to computer for diminishing the mistakes and promoting certain and clear inventory records. Thanks
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CHAPTER 8 Current asset management SOLUTIONS TO PROBLEMS 8-2* (a) Recommendation (i) 0.105 × $800 000 × 1/12 = $7‚000 < $20‚000 No (ii) 0.105 × $800‚000 × 2/12 = $14‚000 < $20‚000 No (iii) 0.105 × $800‚000 ×3/12 = $21‚000 > $20‚000 Yes (iv) 0.105 × $800‚000 × 6/12 = $42‚000 > $20‚000 Yes (v) 0.105 × $800‚000 ×12/12 = $84‚000 > $20‚000 Yes (b) Let y be the break-even yield. With $800‚000 to invest for two months and a two-month holding period‚ we have:
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replace broken ones. This was a vast improvement in both manufacturing and maintenance of produced goods. In the early 1900s‚ Ford Motor Company adopted the assembly line to mass produce the Model T. What is Economic order Quantity? (EOQ) Economic order quantity is the order quantity that minimizes total inventory holding costs and ordering costs. It is one of the oldest classical production scheduling models. The framework
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Final Exam ADM 3301 A and B: PRODUCTION AND OPERATIONS MANAGEMENT Summer 2006 Professor: Rim Jaber Time: Three (3) hours Student Name: Student Number: Instructions: 1- Write down the exam copy number (that exists at the top right corner of this page) on the identification white card next to your name. 2- Answer all questions on your examination copy. Use opposite side if necessary. Answers or calculations written on the sheet of notes or on the statistical tables will
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