Question
In: Statistics and Probability
Joe Henry's machine shop uses 2510 brackets during the course of a year. These brackets are...
Joe Henry's machine shop uses 2510 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 2510 Holding cost per bracket per year $ 1.60 Order cost per order $ 19.00 Lead time 2 days Working days per year 250 a) What is the EOQ? nothing 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? $ nothing (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? $ nothing (round your response to two decimal places). d) Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? $ nothing (round your response to two decimal places). e) What is the time between orders? nothing days (round your response to two decimal places). f) What is the reorder point (ROP)? nothing units (round your response to two decimal places). Enter your answer in each of the answer boxes.
Solutions
t
thank
you
orchestra answered 1 year agoRelated Solutions
Joe Henry's machine shop uses 2500 brackets during the course of a year. these brackets are...
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Holding Cost per bracket per year: $1.50
Order cost per order: $18.75
Lead Time: 2 days
Working days per year: 250
a.) Given the above information, what would be the economic order quantity (EOQ)?
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