For the next seven questions, assume a safety stock level of…
For the next seven questions, assume a safety stock level of 40 and an order quantity of 800, along with the cost, annual demand, average demand, and average lead time information listed previously (which is repeated below): Annual demand = 5000 Holding cost = $4 / unit / year Working days per year = 200 days Order cost = $50 Average daily demand = 25 units Average lead time = 6 days The time between orders for this item would be (to the nearest integer)
Read DetailsAssume a safety stock level of 40 and an order quantity of 8…
Assume a safety stock level of 40 and an order quantity of 800, along with the cost, annual demand, average demand, and average lead time information listed previously (which is repeated below): Annual demand = 5000 Holding cost = $4 / unit / year Working days per year = 200 days Order cost = $50 Average daily demand = 25 units Average lead time = 6 days The number of orders each year would be (to the closest integer)
Read DetailsAssume a safety stock level of 40 and an order quantity of 8…
Assume a safety stock level of 40 and an order quantity of 800, along with the cost, annual demand, average demand, and average lead time information listed previously (which is repeated below): Annual demand = 5000 Holding cost = $4 / unit / year Working days per year = 200 days Order cost = $50 Average daily demand = 25 units Average lead time = 6 days Assume that the standard deviation of demand during the lead time was equal to 40 and you wanted a service level of 84.13%. To the nearest integer (round up if the decimal is .5), how many units per year would be short (unavailable when needed)? (Take calculations to as many as 6 decimal places.)
Read DetailsAssume a safety stock level of 40 and an order quantity of 8…
Assume a safety stock level of 40 and an order quantity of 800, along with the cost, annual demand, average demand, and average lead time information listed previously (which is repeated below): Annual demand = 5000 Holding cost = $4 / unit / year Working days per year = 200 days Order cost = $50 Average daily demand = 25 units Average lead time = 6 days How much is the extra recurring cost annually to keep you from running out of stock during half your lead times?
Read DetailsFor the next two questions, suppose you had the following ou…
For the next two questions, suppose you had the following output from LINGO for some linear program. Variable Value Reduced Cost X1 6.000000 0.400000 X2 0.000000 0.780000 X3 9.000000 0.120000 X4 0.000000 0.000000 Row Slack or Surplus Dual Price 1 0.000000 1.000000 2 0.000000 0.000000 3 2.000000 1.250000 4 1.000000 0.900000 5 0.000000 0.000000 Which constraints are binding?
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