solve following this outline. 3. A company orders a single inventory item from a
ID: 375421 • Letter: S
Question
solve following this outline.
3. A company orders a single inventory item from an external supplier. The company anticipates the following monthly demands for this item over the next eight months: 20, 15, 35, 20, 10, 55, 25, and 10. The company currently has 4 units in stock. At the end of month 8 they require an ending inventory of 2 units Each order placed by the company costs $50. The company estimates that its holding cost is $1 per unit per month. Due to the high demand for this product from other purchasers, the supplier has a imposed a limit of 30 units per month The company seeks a planned order release schedule for this item (a) Demonstrate that a feasible solution to this problem exists (b) Provide an initial feasible solution (c) Using the procedure from the textbook, find an improved solution.Explanation / Answer
a- Performance rating in "prepare daily report" is 120% it means the effciency in the process is 20% more than the standrad time.
Average time for "prepare daily report" = (34+39+34+41+40)/5=188/5=37.6 minutes .
Normal time=37.6*1.2=45.12 minutes
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