How many Daejo leaders are located in the state of Texas? Unacceptable answer: 9. Acceptable answer: Currently there are 9 dealers in the state of Texas. Note: Answers need to be presented

management multi-part question

Requirements: as needed
MGMT 3106: Management Science and Operations Management Assignment 7 Due dates: Please refer the due date in GaView. Purpose: The purpose of this assignment is to provide an opportunity for you learn the basic concepts of Inventory management. Skills: Upon completion of this activity, you will be able to: conduct an ABC inventory analysis use the economic order quantity (EOQ) models Calculate safety stock Knowledge: This assignment will help you understand: the importance of inventory, types of inventories, and key decisions and costs the major characteristics that impact inventory decisions fixed-order-quantity inventory system operates fixed-period inventory system operates Task: Please see page 2 Criteria for success: Please see the grading rubric in GaView. You can discuss the questions with colleagues. But you are not allowed to share your work. Alike assignments will earn a grade of 0 first time. Alike assignments will lead to an F in the course second time. Previous semester assignments will earn a grade of 0 first time. Previous semester assignments will lead to an F in the course second time. Sources and Plagiarism Cite your sources (i.e., websites, books, magazines, etc.) Answers without sources will not earn grade. Plagiarism: To use the same words as your source. Plagiarism leads to a 0 in the assignment. No matter if it is only a sentence. Be organized and professional. Present all work in ONE .pdf or .docx file. Zip files, Excel files, image files are not accepted. Consistent formatting is expected (Line spacing, margins, fonts, numbering, etc.) Answers must be presented in sentences with correct grammar. Answers without proper support will not earn any grade. Include calculations when necessary. Refer to appendices when explaining your answer. Type the answers. Non-typed answers are acceptable only in calculations and figures. When a software is used for calculations, show screen captures as supporting work. When a software is used for calculations, provide the file with calculations separately.
MGMT 3106: Management Science and Operations Management Question/answer examples Example 1: How many Daejo leaders are located in the state of Texas? Unacceptable answer: 9. Acceptable answer: Currently there are 9 dealers in the state of Texas. Note: Answers need to be presented in a professional and nice fashion. Example 2: One of the best sellers at a paint store is an Iron-coat paint. The annual demand is forecasted as 10,000 gallons. The carrying cost is $0.75 per gallon. The ordering cost is $150 per order. How much paint should be ordered each time? Unacceptable answer: 2000. Acceptable answer: The paint store should order 2,000 gallons each time. Calculations below show how the answer was obtained: Note: Answer is professionally presented. Calculation details are shown using Microsoft equation editor. Task: Answer following questions 1. [10 points] What items do you normally keep in your pantry as inventory? Have you changed the buying patterns and quantities of goods (that youd normally buy) due to price increase? How might the inventory management principles change your way of managing these items? Write a paragraph (100-200 words) explaining above points. 2. [10 points] What is the purpose of the ABC classification systems in inventory management? Write a paragraph to explain. (100-200 words) 3. [10 points] What is safety stock?? What does safety stock provide safety against? Provide a numerical example to explain the safety stock. (150-200 words).
MGMT 3106: Management Science and Operations Management 4. [15 points] Perform an ABC analysis for the data provided below. Clearly explain why you classified items as A, B, or C. (You may use the Excel template provided. Provide screen captures to show your work). SKU Number Annual Demand Unit Cost 1 500 $68.12 2 750 $58.25 3 3500 $75.25 4 200 $53.14 5 1000 $26.33 6 1250 $4.52 7 250 $7.59 8 150 $3.19 9 8500 $2.98 10 6500 $4.27 11 1500 $9.00 12 3500 $13.57 13 1200 $15.40 14 1500 $14.60 15 2000 $35.80 16 1000 $17.30 17 2000 $51.75 18 450 $42.90 19 6000 $25.30 20 2500 $67.00 5. [15 points] An assistant manager of an Electronic device retailer is reviewing the costs associated with the store’s best-selling computers. The data available follows. Demand = 1800 units/year Order cost = $250/order Holding cost rate = 15% /year Unit cost = $750 a. What is the Economic Order Quantity (EOQ)? Show all calculations to earn full credit. b. What is the ordering cost? Show all calculations. c. What is the holding cost? Show all calculations. d. If the order quantity is 100 units, what is the total cost? How does it compare with the total cost for ordering EOQ?
MGMT 3106: Management Science and Operations Management 6. [20 points] A hair care retailer needs to finalize the purchasing plans for a new hair care product. Following information is provided by the purchasing director regarding the products supply. Ordering costs = $60/order Holding costs = $12 /unit/year Lead-time = 2 weeks Unit cost = $80/unit Demand = 200 units/week Number of weeks per year = 50 a. Currently, retailer plans to order once each two weeks during its 50-week year. What is the total cost of ordering and holding these goods under this system? What is the total cost? b. How many units should the purchasing director order at one time to minimize the total annual cost of purchasing and carrying? (What is the EOQ?) c. When should the product be ordered in cost minimizing scenario? (What is the reorder point?) d. What is the cost of ordering and holding goods using the EOQ? How does it compare to the cost in (a)? e. The retailer decides to keep 1 weeks demand as safety stock to buffer the uncertainty in supply. What is the safety inventory? How does the EQO and Reorder point change with safety stock? f. What is the cost of ordering and holding goods if safety inventory is kept? 7. [20 points] An office suppliers distributor uses a continuous review inventory control system for one of its SKUs. The following information is available on the item. Order cost = $75/order Unit cost = $25 Holding cost rate = 20% / year Number of working days per year = 300 Demand = 1200 chairs/year Standard deviation of daily demand = 1.5 chairs Average lead time = 4 days Required cycle-service level= 90% a. What is the economic order quantity? b. What should be the safety stock be to have a 90% service level? c. What should be the reorder point be to have a 90% service level? d. What is the total annual cost? Show all calculations to earn full credit. e. What is the safety stock if the required cycle-service level is 95%?

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