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I have 5 questions and I need to know how much it will cost and how many days to delivered to meThanks 1st assignment (Production Control and Inventory System 1) Determine the carrying cost chargei 2)Money in my savings account earns interest at 10% annual rate. Each time I go to the bank, I waste 15 minutes in line. My time is worth $10 per hour. During each year, I need to withdraw $10,000 to pay my bills. a. Each time I go to the bank, how much money should I withdraw? b. How often should I go to the bank? c. If my need for cash increases, will I go to the bank more often or less often? d. If interest rates rise, will I go to the bank more often or less often? e. If the bank adds more tellers, will I go to the bank more often or less often? 3) A candy store is looking to identify the optimal order quantity for their product jelly bean. The only costs involved are the cost of ordering 250 and cost of holding 10 $/unit/yr. The following information is provided: • Once a lot size of Q is received the store sells the jelly bean on sale until half of the lot is gone, at which time the store raises the price of the jelly bean. This implies that there are two known constant demand rates D1 = 60 boxes/day and D2 = 40 boxes/day, D1 being the rate during the sale. Determine the following: a) Plot the on hand inventory level progress over time, representing the cycle inventory b) What is the fraction of time spent at D1? c) What is the average level of inventory being held as a function of Q? d) Determine the total cost function and compute the optimal ordering quantity Q 4) Danny Steel Inc. fabricates various products from two basic inputs, bar stock and sheet stock. Bar stock is used at a steady rate of 1000 units per year and costs $200 per bar. Sheet stock is used at a rate of 500 units per year and costs $150 per sheet. The company uses a 20% annual holding cost rate, and the fixed cost to place an order is $50, of which $10 is the cost of placing the purchase order and $40 is the fixed cost of a truck delivery. The plant run 365 days per year. a) Determine EOQ and optimal order intervals, and annual costs for bar stock and sheet stock. What fraction of the total annual cost consists of fixed trucking cost? b) Using a week (7 days) as a base period, round the orders to nearest power of 2. If you charge the fixed trucking fee only once for deliveries that coincide what is the annual cost now? 5) Crunchy, a cereal manufacturer, has dedicated a plant for one major retail chain. Sales at the retail chain average about 20,000 boxes a month and production at the plant keeps pace with this average demand. Each box of cereal costs Crunchy $ 3 and is sold to the retailer at a wholesale price of $ 5. Both Crunchy and the retailer use an annual holding cost of 20 percent. For each order placed, the retailer incurs an ordering cost of $ 200 per order placed. Crunchy incurs the cost of transportation and loading that totals $ 1,000 per order shipped. a) Given that it is trying to minimize its ordering and holding cost, what lot size will the retailer ask for in each order? What is the annual ordering and holding cost for the retailer as a result of this policy? What is the annual ordering and holding cost for Crunchy as a result of this policy? What is the total inventory cost across both parties as a result of this policy? b) What lot size minimizes the inventory costs (ordering, delivery, and holding) across the supply chain (both Crunchy and the retailer)? How much reduction in cost relative to( a) results from this policy? c) Design an all unit quantity discount that results in the retailer ordering the quantity in (b)

I have 5 questions and I need to know how much it will cost and how many days to delivered to meThanks

1st assignment (Production Control and Inventory System

1)

Determine the carrying cost chargei

2)Money in my savings account earns interest at 10% annual rate. Each time I go to the bank, I waste 15 minutes in line. My time is worth $10 per hour. During each year, I need to withdraw $10,000 to pay my bills.

a. Each time I go to the bank, how much money should I withdraw?

b. How often should I go to the bank?

c. If my need for cash increases, will I go to the bank more often or less often?

d. If interest rates rise, will I go to the bank more often or less often?

e. If the bank adds more tellers, will I go to the bank more often or less often?

3) A candy store is looking to identify the optimal order quantity for their product jelly bean. The only costs involved are the cost of ordering 250 and cost of holding 10 $/unit/yr. The following information is provided:

• Once a lot size of Q is received the store sells the jelly bean on sale until half of the lot is gone, at which time the store raises the price of the jelly bean.

This implies that there are two known constant demand rates D1 = 60 boxes/day and D2 = 40 boxes/day, D1 being the rate during the sale.

Determine the following:

a) Plot the on hand inventory level progress over time, representing the cycle inventory

b) What is the fraction of time spent at D1?

c) What is the average level of inventory being held as a function of Q?

d) Determine the total cost function and compute the optimal ordering quantity Q

4) Danny Steel Inc. fabricates various products from two basic inputs, bar stock and sheet stock. Bar stock is used at a steady rate of 1000 units per year and costs $200 per bar. Sheet stock is used at a rate of 500 units per year and costs $150 per sheet. The company uses a 20% annual holding cost rate, and the fixed cost to place an order is $50, of which $10 is the cost of placing the purchase order and $40 is the fixed cost of a truck delivery. The plant run 365 days per year.

a) Determine EOQ and optimal order intervals, and annual costs for bar stock and sheet stock. What fraction of the total annual cost consists of fixed trucking cost?

b) Using a week (7 days) as a base period, round the orders to nearest power of 2. If you charge the fixed trucking fee only once for deliveries that coincide what is the annual cost now?

5) Crunchy, a cereal manufacturer, has dedicated a plant for one major retail chain. Sales at the retail chain average about 20,000 boxes a month and production at the plant keeps pace with this average demand. Each box of cereal costs Crunchy $ 3 and is sold to the retailer at a wholesale price of $ 5. Both Crunchy and the retailer use an annual holding cost of 20 percent. For each order placed, the retailer incurs an ordering cost of $ 200 per order placed. Crunchy incurs the cost of transportation and loading that totals $ 1,000 per order shipped.

a) Given that it is trying to minimize its ordering and holding cost, what lot size will the retailer ask for in each order? What is the annual ordering and holding cost for the retailer as a result of this policy? What is the annual ordering and holding cost for Crunchy as a result of this policy? What is the total inventory cost across both parties as a result of this policy?

b) What lot size minimizes the inventory costs (ordering, delivery, and holding) across the supply chain (both Crunchy and the retailer)? How much reduction in cost relative to( a) results from this policy?

c) Design an all unit quantity discount that results in the retailer ordering the quantity in (b)

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