Question
In: Statistics and Probability
Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers have limited capacity,...
Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers have limited capacity, and no one supplier can meet all the company’s needs. In addition, the suppliers charge different prices for the components. Component price data (in price per unit) are as follows:
| Supplier | |||
|---|---|---|---|
| Component | 1 | 2 | 3 |
| 1 | $12 | $14 | $10 |
| 2 | $14 | $12 | $10 |
Each supplier has a limited capacity in terms of the total number of components it can supply. However, as long as Edwards provides sufficient advance orders, each supplier can devote its capacity to component 1, component 2, or any combination of the two components, if the total number of units ordered is within its capacity. Supplier capacities are as follows:
| Supplier | 1 | 2 | 3 |
|---|---|---|---|
| Capacity | 550 | 1025 | 850 |
If the Edwards production plan for the next period includes 1025 units of component 1 and 825 units of component 2, what purchases do you recommend? That is, how many units of each component should be ordered from each supplier? Round your answers to the nearest whole number. If your answer is zero, enter "0".
| Supplier | |||
|---|---|---|---|
| 1 | 2 | 3 | |
| Component 1 | |||
| Component 2 | |||
What is the total purchase cost for the components? Round your answer to the nearest dollar.
$
Solutions
orchestra answered 2 years agoRelated Solutions
Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers have limited capacity,...
Edwards Manufacturing Company purchases two component parts from
three different suppliers. The suppliers have limited capacity, and
no one supplier can meet all the company’s needs. In addition, the
suppliers charge different prices for the components. Component
price data (in price per unit) are as follows:
Supplier
Component
1
2
3
1
$10
$14
$10
2
$16
$12
$10
Each supplier has a limited capacity in terms of the total
number of components it can supply. However, as long as...
Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers have limited capacity,...
Edwards Manufacturing Company purchases two component parts from
three different suppliers. The suppliers have limited capacity, and
no one supplier can meet all the company’s needs. In addition, the
suppliers charge different prices for the components. Component
price data (in price per unit) are as follows:
Supplier
Component
1
2
3
1
$12
$14
$10
2
$14
$12
$10
Each supplier has a limited capacity in terms of the total
number of components it can supply. However, as long as...
Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers have limited capacity,...
Edwards Manufacturing Company purchases two component parts from
three different suppliers. The suppliers have limited capacity, and
no one supplier can meet all the company’s needs. In addition, the
suppliers charge different prices for the components. Component
price data (in price per unit) are as follows:
Supplier
Component
1
2
3
1
$12
$12
$11
2
$10
$12
$10
Each supplier has a limited capacity in terms of the total
number of components it can supply. However, as long as...
Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers have limited capacity,...
Edwards Manufacturing Company purchases two component parts from
three different suppliers. The suppliers have limited capacity, and
no one supplier can meet all the company’s needs. In addition, the
suppliers charge different prices for the components. Component
price data (in price per unit) are as follows:
Supplier
Component
1
2
3
1
$12
$13
$10
2
$15
$12
$10
Each supplier has a limited capacity in terms of the total
number of components it can supply. However, as long as...
Problem 4-11 (Algorithmic) Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers...
Problem 4-11 (Algorithmic)
Edwards Manufacturing Company purchases two component parts from
three different suppliers. The suppliers have limited capacity, and
no one supplier can meet all the company’s needs. In addition, the
suppliers charge different prices for the components. Component
price data (in price per unit) are as follows:
Supplier
Component
1
2
3
1
$12
$13
$10
2
$15
$12
$10
Each supplier has a limited capacity in terms of the total
number of components it can supply. However,...
Problem 9-11 (Algorithmic) Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers...
Problem 9-11 (Algorithmic)
Edwards Manufacturing Company purchases two component parts from
three different suppliers. The suppliers have limited capacity, and
no one supplier can meet all the company’s needs. In addition, the
suppliers charge different prices for the components. Component
price data (in price per unit) are as follows:
Supplier
Component
1
2
3
1
$10
$10
$15
2
$11
$10
$10
Each supplier has a limited capacity in terms of the total
number of components it can supply. However,...
Problem 4-11 (Algorithmic) Edwards Manufacturing Company purchases two component parts from three different suppliers. The suppliers...
Problem 4-11 (Algorithmic)
Edwards Manufacturing Company purchases two component parts from
three different suppliers. The suppliers have limited capacity, and
no one supplier can meet all the company’s needs. In addition, the
suppliers charge different prices for the components. Component
price data (in price per unit) are as follows:
Supplier
Component
1
2
3
1
$10
$14
$10
2
$12
$12
$10
Each supplier has a limited capacity in terms of the total
number of components it can supply. However,...
A manufacturer is considering purchasing parts from three different suppliers. The parts received from the suppliers...
A manufacturer is considering purchasing parts from three
different suppliers. The parts received from the suppliers are
classified as having a minor defect, having a major defect, or
being good. Test results from samples of parts received from each
of the three suppliers are shown below. Note that any test with
these data is no longer a test of proportions for the three
supplier populations because the categorical response variable has
three outcomes: minor defect, major defect, and good.
Supplier...
A large manufacturer purchases an identical component from three independent suppliers that differ in unit price...
A large manufacturer purchases an identical component from three
independent suppliers that differ in unit price and quantity
supplied. The relevant data for 2012 and 2014 are given here.
Unit Price ($)
Supplier
Quantity (2012)
2012
2014
A
100
4.95
5.50
B
200
5.60
5.95
C
160
5.50
6.20
(a)
Compute the price relatives for each of the component suppliers
separately. Compare the price increases by the suppliers over the
two-year period.
(b)
Compute an unweighted aggregate price index for...
Q1. ABCD is going to purchase an auto parts component from one of two competing suppliers...
Q1. ABCD is going to purchase an auto parts
component from one of two competing suppliers and it is going to
base its decision, in part, on the supply chain performance of the
two suppliers. The company has obtained the following data for
average raw materials, work-in-process, and finished goods
inventory value, as well as cost of goods sold for the suppliers.
Assume each supplier operates 50 weeks per year.
Supplier 1
Supplier 2
Cost of goods sold
$8,500,000
$14,800,000...
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