Efficiently scheduling material and labor is an example of _______________

The new office supply discounter, Paper Clips, Etc. (PCE), sells a certain type of ergonomically correct office chair. The annua

mrs_skeptik [129]

Solution :

Given data:

Annual demand, D = 180,000 chairs

Ordering cost, F = $ 150 per order

Annual holding cost per unit, C = $25

Lead time of order, L = 5 days

Standard deviation of order during lead time = 30

a). The optimal order quantity

$=\sqrt{\frac{2FD}{C}}$

$=\sqrt{\frac{2\times 150 \times 180,000 }{25}}$

= 1469.69

= 1470 (rounding off)

b). The Z value of the customer service of 90%,

i.e., the probability of 0.90 as per normal distribution table = 1.29

∴ Safety stock = Z value x standard deviation of order during lead time

= 1.29 x 30

= 38.7

= 39 (rounding off)

c). The reorder point

$= \text{Average demand per day} x \text{Demand lead time (day) + Safety stock}$

$=\frac{\text{annual demand}}{\text{300 days}} \times \text{ Demand Lead time (days) + Safety stock}$

$=\frac{180,000}{300} \times 5 + 39$

= 3039

d). The optimal annual total inventory cost

$\text{= Annual ordering cost + Annual Inventory carrying cost}$

$\text{= Number of orders} \times \text{Ordering cost + Average inventory} \times }$ $\text{Inventory holding cost per unit per year}$

$=\frac{\text{annual demand}}{\text{optimum order quantity}} \times \text{ordering cost+}\frac{\text{optimum ordering cost}}{2}\times C$

$=\frac{180,000}{1470} \times 150 + \frac{1470}{2} \times 25$

= 18367.34 + 18375

= $ 36,742.34

6 0

3 years ago

Question 18 :Project managers must balance three elements that compose the project triangle. You are a project manager who is ha

denpristay [2]

Answer: The project scope will increase

Explanation:

From the question, we are informed that there is a project manager who is halfway through a project and then his customer contacts him to say that he has been authorized to provide additional funds for the project.

This will most likely increase the project scope. The project scope simply means the work that is needed to be done in order for a particular project to be accomplished. Due to the increase in funds, it means that more work will be expected.

4 0

3 years ago

For each of the scenarios below, determine whether you think it is likely that an employer could be discriminating against apers

mihalych1998 [28]

Answer: A young lawyer who just finished work on a multimillion -dollar development deal downtown is hired by an economic development ﬁrm in lieu of an older lawyer who works on litigation

This is not a case of discriminating against a person because of age, as we can see the young lawyer is better suited for a job in economic development as he already has worked on a development deal, where as the older lawyer is a litigator

A large retail outlet hires an 80-year-old woman to greet customers instead of a 30-year-old woman who has been greeting customers in other stores for a decade

This may be a case of age discrimination, because the 30 year old seems to be the better candidate, because she has experience in this work and will be more energetic than the 80 year old as well

The owner of a local, hip smoothie bar in a university town just fired a graduate student who had worked at the bar for three years and instead hired a college sophomore.

This may be a case of age discrimination because the employer is firing a graduate who has had 3 years of experience and hiring someone who hasn't graduated and has no experience

Explanation:

3 0

3 years ago

You have just purchased a newly issued municipal bond for $1,000. The bond pays $50 to its holder at the end of the the first, s

SCORPION-xisa [38]

Answer

The answer and procedures of the exercise are attached in the 2 images below.

Explanation

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a 2 sheets with the formulas indications.

7 0

3 years ago

Karin's company is selecting a manager to expand operations in Japan. Karin's boss says the new manager must display high cultur

mario62 [17]

Answer:

B) Remind her boss that she studied Japanese in high school

Explanation:

It would be the best way to show that she knows about the culture and she has experience. I hope that helps!

3 0

4 years ago

Efficiently scheduling material and labor is an example of ________________ decisions