Spunky, a 4-year-old, spayed, female mixed-breed dog, presen…
Spunky, a 4-year-old, spayed, female mixed-breed dog, presents to your clinic. Her owners are concerned about her weight gain over the last four months. In obtaining a history, you learn that there are four people in the house: owners Jen and Brian, a toddler, and a new baby. Jen and Brian have taken to leaving all-purpose dog food out all day, because they realized they had each forgotten to feed Spunky on several occasions since the birth of the baby. Spunky’s exercise is limited to spending time in the fenced yard, rather than the walks she used to enjoy. Spunky spends much of her time indoors, and is quick to eat food the toddler has dropped. On physical examination, Spunky weighs 55 lbs with a BCS of 4/5. Her ideal weight is 45 lbs. All other examination findings were unremarkable. CBC, chemistry, and thyroid hormone levels were also unremarkable.
Read DetailsThe Annie’s Card Shoppe stocks Mother’s Day cards for a limi…
The Annie’s Card Shoppe stocks Mother’s Day cards for a limited time each Spring. The store charges $6.79 for each card sold. Immediately after Mother’s Day, the cards are sold to a discounter for $1.15 per card. Annie’s is committed to a very high service level on all products sold (see exam instructions). What is the implied cost target Annie’s must hit from its suppliers that justifies her fill rate for the Mother’s Day cards? HINT: Consider the Newsvendor model since this product is seasonal.
Read DetailsICON Candies is a three-store retailer of freshly boxed choc…
ICON Candies is a three-store retailer of freshly boxed chocolate candies serving the greater NYC metropolitan area. ICON orders its chocolate candies directly from a candy maker in Belgium and has a central refrigerated warehouse where the firm stores individual candies shipped directly to Newark (by air) from the supplier. The lead time from order to receipt is 4 weeks. ICON’s order costs are $300 per order and the holding costs are 20% of the cost of an individual candy. Candies are ordered as individual units (pieces), but the order quantity needs to be a multiple of 12 (each box of candy created by ICON has 12 pieces of candy) and the average cost per candy is $.50. A feature of an ICON box of candy is that you never know exactly what’s in it. Each box is assembled by randomly selecting 12 candies from a possible assortment of 20 different types of cream-filled chocolate. The grouping only occurs when the boxes are created and “no two boxes are exactly alike” is the product’s tagline. Each box of candy is sold for $24.99 and annual demand follows a normal distribution with a mean of 6000 boxes and a standard deviation of 320. To maintain customer goodwill, ICON has set a very high service level objective (see exam instructions). Consider a year to have 52 weeks or 365 days. What should be ICON Candy’s ROP (Reorder Point)? Round up the ROP to the nearest multiple of 12. Note your answer may differ slightly depending on rounding. Pick the answer closest to your answer.
Read DetailsEach year the Georgia Tech Young Alumni Association (“GTYAA”…
Each year the Georgia Tech Young Alumni Association (“GTYAA”) sells T-Shirts prior to and during the annual Georgia Tech Pi Mile Road Race. This next year will be the 35th consecutive year that the GTYAA has done this and over the years (and by careful record keeping) the GTYAA has determined that T-Shirt demand follows a discrete distribution pattern, summarized in the table below. HINT: Note that the probabilities add up to 100%, and although this is not normally distributed demand, the same over/under logic of the Newsvendor model can apply here. Demand Probability Cumulative Probability 300 .05 .05 400 .10 .15 500 .40 .55 600 .30 .85 700 .10 .95 800 .05 1.00 Note that T-Shirts can only be ordered in lot sizes rounded up to the nearest 100. The T-Shirts cost GTYAA $8 each and are sold on race day for $28. GTYAA buys their T-Shirts from a local supplier who screen prints the T-Shirts to GTYAA’s specifications. Any unsold shirt is sold for $5 within a day or so after the race. Assuming GTYAA wants to maximize their profits from the sale of these T-Shirts, how many should the association order from the supplier.
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