Operations management EN 24/25
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What is generally true about the class A Stock-Keeping units (SKUs) in ABC analysis? They represent:
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Steven Robert, owner and operator of the Earplug Superstore, is reviewing the costs associated with the store’s best-selling hearing aid, the BZ15. The data available to Mr. Robert concerning this device follow. Demand = 25 units/week. Order cost = $3/order. Holding cost = $1.50/unit/year. The Earplug Superstore operates 52 weeks a year. If Steven orders at the economic order quantity, how many units does he order at a time?
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A company has the following inventory characteristics: Annual demand = 72,000 units; Ordering cost = $50/order; Annual holding cost = $2 per unit/year. If the company opts to order on a fixed monthly schedule (i.e., 12 orders per year) rather than using the EOQ, what is the approximate percentage increase in total annual inventory costs (ordering plus holding) compared to the EOQ policy?
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What is generally true about the class C Stock-Keeping units (SKUs) in ABC analysis? They represent:
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ABC analysis is closely related to:
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A firm has the following inventory characteristics: Demand = 50,000 units/year; Ordering cost = $100/order; Holding cost = $0.20 per unit per day; Operating schedule = 45 weeks/year, 5 days/week. What is the EOQ for this item?
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Kromberg uses electrical assemblies to produce an array of small appliances. One of its high cost / high volume assemblies, the YY-22, has an estimated annual demand of 8,000 units. Kromberg estimates the cost to place an order is $50, and the holding cost for each assembly is $20 per year. The company operates 250 days per year. What are the total annual holding and ordering costs if Kromberg orders using the EOQ quantity?
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You have taken a job in industry and are facing your first ordering decision. As you prepare to place the order, you remember your instructor teaching you that you wouldn’t use the EOQ formula if:
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Steven Robert, owner and operator of the Earplug Superstore, is reviewing the costs associated with the store’s best-selling hearing aid, the BZ15. The data available to Mr. Robert concerning this device follow. Demand = 25 units/week. Order cost = $3/order. Holding cost = $1.50/unit/year. The Earplug Superstore operates 52 weeks a year. Steven cuts the ordering cost in half by implementing a streamlined processing system. How many fewer units should he now order each time he places an order?
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Which one of the following is NOT a method for tracking inventory and ensuring accurate records?
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