Joe? Henry\'s machine shop uses 2,460 brackets during the course of a year. Thes
ID: 337265 • Letter: J
Question
Joe? Henry's machine shop uses 2,460 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets:
* Annual demand 2,460
* Holding cost per bracket per year $ 1.50
* Order cost per order $ 18.50
* Lead time 2 days
* Working days per year 250 ?
a) What is the? EOQ? ____ units ?(round your response to two decimal? places).
?b) What is the average inventory if the EOQ is? used? nothing units ?(round your response to two decimal? places). What would be the annual inventory holding? cost? ?$_____ ?(round your response to two decimal? places).
?c) Given the? EOQ, how many orders will be made? annually? nothing orders ?(round your response to two decimal? places). What would be the annual order? cost? ?$_____ (round your response to two decimal? places).
?d) Given the? EOQ, what is the total annual cost of managing? (ordering and? holding) the? inventory? ?$_____ ?(round your response to two decimal? places).
?e) What is the time between? orders? _____ days ?(round your response to two decimal? places).
?f) What is the reorder point? (ROP) _____ units
Explanation / Answer
Joe? Henry's machine shop uses 2,460 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets:
* Annual demand 2,460
* Holding cost per bracket per year $ 1.50
* Order cost per order $ 18.50
* Lead time 2 days
* Working days per year 250 ?
a) What is the? EOQ? ____ units ?(round your response to two decimal? places).
?b) What is the average inventory if the EOQ is? used? nothing units ?(round your response to two decimal? places). What would be the annual inventory holding? cost? ?$_____ ?(round your response to two decimal? places).
?c) Given the? EOQ, how many orders will be made? annually? nothing orders ?(round your response to two decimal? places). What would be the annual order? cost? ?$_____ (round your response to two decimal? places).
?d) Given the? EOQ, what is the total annual cost of managing? (ordering and? holding) the? inventory? ?$_____ ?(round your response to two decimal? places).
?e) What is the time between? orders? _____ days ?(round your response to two decimal? places).
?f) What is the reorder point? (ROP) _____ units
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