You are currently working as a manager in a retail company. It is known that the company sells 2,500 cartons of cooking oil per year. The cost for each reorder cost of cooking oil is Rp. 750,000 and the carrying cost is Rp. 150,000. By using the Economic Order Quantity (EOQ) formula, determine how many units are optimal for each order?
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You are currently working as a manager in a retail company. It is known that the company sells 2,500 cartons of cooking oil per year. The cost for each reorder cost of cooking oil is Rp. 750,000 and the carrying cost is Rp. 150,000. By using the Economic Order Quantity (EOQ) formula, determine how many units are optimal for each order?
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- 1. Calculate Economic Order Quantity (EOQ), number of orders, annual ordering costs, annual carrying costs and total inventory costs from the following: Annual consumption: 6000 units ; Cost of placing one Order: RO 60 Carrying cost per unit: RO 22. Find out the EOQ, Annual ordering cost and annual holding cost from the following information. The demand is 19500 units per year, holding cost is RO 4 per unit for a year and ordering cost is RO 25 order. 3. Find out the ordering cost from the following information, Annual demand is 240 units, holding cost RO 4 per unit for a year and EOQ is 60 units.The economic order quantity of NEKO Inc. is 1,000 unit. They sold their sole product for a selling price of P5. It takes P20,000 a year for NEKO Inc. in ordering 1,000 units per transaction. Carrying cost is P4 per unit per year. The lead time for this product is one week. How much sales revenue should NEKO Inc. have for this economic order quantity to be plausible? (Use 360 days a year)The campus bookstore sells 4,000 sets of graduation regalia each year. Placing an order from their supplier costs $25 regardless of order quantity, so they usually place a large order (a half year's supply) at a time. It costs $5 per year to hold a cap and gown in inventory, primarily insurance costs for the highly flammable material. What is their optimal order quantity, total cost using the optimal order quantity, and What is the difference in the total cost if they order at their optimal order quantity compared to their current policy?
- JYP Store purchases shirts printed with GOT7 name and logo from a vendor. The vendor sells the shirts to the store for RM40 each. The cost to the store for placing an order is RM110, and the annual carrying cost is 20% of the cost of the shirt. Jackson, the store manager, estimates that 1,600 shirts will be sold during the year. The vendor has offered the store the following volume discount in Table 3. [Kedai JYP membeli baju yang di cetak dengan nama dan logo GOT7 dari pembekal. Pembekal menjual baju kepada kedai dengan harga RM40 sehelai. Kos untuk membuat tempahan ialah RM110, dan kos memegang tahunan ialah 20% dari harga kos sehelai baju. Jackson, pengurus kedai, menjangkakan sebanyak 1,600 baju akan dijual setahun. Pembekal menawarkan kepada kedai berdasarkan Jadual 3.] Table 3: Discount schedule [Jadual 3: Jadual diskaun] ORDER SIZE DISCOUNT 1 – 299 0% 300 – 500 2% 501 and more 4% Calculate optimal order quantity based on the quantity discount…Alina Limited is a manufacturer of widgets orders components for use in manufacturing. The estimated demand for the components during the coming year is 15,000. Order costs are $100 per order; carrying costs are $12 per component. Using the economic order quantity model What is Alina Ltd’s optimum order quantity? If the supplier guarantees a three (3) day delivery on any order that is placed, What is the re-order point?JYP Store purchases shirts printed with GOT7 name and logo from a vendor. The vendor sells the shirts to the store for RM40 each. The cost to the store for placing an order is RM110, and the annual carrying cost is 20% of the cost of the shirt. Jackson, the store manager, estimates that 1,600 shirts will be sold during the year. The vendor has offered the store the following volume discount in Table 3. [Kedai JYP membeli baju yang di cetak dengan nama dan logo GOT7 dari pembekal. Pembekal menjual baju kepada kedai dengan harga RM40 sehelai. Kos untuk membuat tempahan ialah RM110, dan kos memegang tahunan ialah 20% dari harga kos sehelai baju. Jackson, pengurus kedai, menjangkakan sebanyak 1,600 baju akan dijual setahun. Pembekal menawarkan kepada kedai berdasarkan Jadual 3.] Table 3: Discount schedule [Jadual 3: Jadual diskaun] ORDER SIZE DISCOUNT 1 – 299 0% 300 – 500 2% 501 and more 4% Calculate total annual inventory cost. [Hitungkan kos inventori…
- Maira Hijab Enterprise (MHE) is a supplier that sells Exclusive Embroidery Silk Hijabs to boutique and online resellers. The annual demand is approximately 360 hijabs. MHE pays RM50 for each hijab and estimates that the annual holding cost is 2 percent of the hijab's value. It costs approximately RM100 to place an order (managerial and clerical costs). Required: Determine the economic order quantity (EOQ) (Round up your answers to the nearest figure). а. b. Assuming a 300-day work year, how many orders should be processed per year and what is the expected time between orders? С. Calculate the total cost for the order. d. After several months of the introduction of the Exclusive Hijab, MHE decides to all costs related to their product due to the increment of hijab’s costs by the supplier. MHE currently orders 1000 hijabs per month. The new information as regards to the Exclusive Hijab is as follows: i. The ordering cost for these is RM100 per order and ii. The carrying cost is assumed…A manufacturer of exercise equipment purchases the pulley section of the equipment from a supplier who lists these prices: Less than 1000 $5.00 each 1000 to 3999 $4.95 each 4000 to 5999 $4.90 each 6000 or more $4.85 each Ordering costs are $50, annual carrying costs per unit are 40 percent of purchase cost, and annual usage is 4900 pulleys. Determine the order quantity that will minimize total cost.An eyeglass retailer buys lenses from a supplier at $100 each. The retailer orders 250 lens pairs every year and the ordering cost is $36. Carrying costs per year (based on average inventory) are estimated to be 20% for each pair. The supplier offers a 10% on order quantities of 50 or more lens pairs. Determine the best order quantity and total cost
- Discuss considerations that should be fully taken into account when developing inventory related relevant costs for use in an economic order quantity (EOQ) model. Why do conflicts arise between the EOQ model's optimal order quantity and the order quantity that managers regard as optimal?The Universal Computer Company uses a newly developed A1 chip in the manufacturer of their tablet computers. The estimated annual demand for this chip is 12,000 units. It is estimated that the cost to place an order is $75, and the holding cost for each chip is $20 per year. The company operates 320 days per year. a. What is the economic order quantity for the A1 chip? b. What is the total cost if the Universal Computer Company orders using the EOQ quantity?A computer company that operates 250 days a year has an annual demand of 20,000. They want to determine EOQ for circuit boards which have an annual holding cost of $10/unit, and an ordering cost of $75. The purchasing lead time is 5 days. What is the reorder point (ROP) and Total Cost (TC)? 400 units, $5,477 O 300 units, $3,000 400 units, $5,350 200 units, $2,00 350 units, $5, 277