Assignment due date: 11/05/2012 Number of students in a group: 3 Group Project sheath 1 do work 1: Just later finishing your master studies, you were able-bodied to find a truly promising job. You ar a repositing manager of a large furniture store now. One of your products is a bailiwick desk. Weekly acquire for the desk is commonly distributed with mean 100 and criterion deviation 25. The lead-time from the assembly localize to your store is 3 schedule calendar workhebdomads. The unit production and transportation terms of each desk is 450 €. The annual opportunity rate is 15%. You sustain an order of magnitude cost of 1200 € each time you pass an lineage replacement order to the assembly plant. The furniture store is running(a) 52 weeks per year. The music director of this European chain of furniture stores wants you to reach 90% emolument level for this study desk. 1. You are cookery to intention a periodic (R,Q) constitution (with T = 1 week) to control scroll. depend the order quantity Q that you depart use in this insurance policy as the look on that minimizes the total ordering and pedigree holding costs. Calculate the reorder point R that you will use in this policy as the value that permits you to gravel the desired service level. Simulate the application of this policy for the demand realizations given in the sheet Q1A of the Excel wedge PROJECT2012-TYPE1.
hazard that you give an order at the beginning of a week if the fund position at the beginning of this week is little than or equal to the reorder point R. You let come to the fore the demand realization of a week after decision! making to give or not to give an order at the beginning of this week. An order that you give at the beginning of a week t arrives at the beginning of week t + 3. Suppose also that you have R + Q units in the stock certificate and no outstanding orders at the beginning of the first week of this 52 weeks simulation period. Determine the realized turnover ratio. 2. You are planning to use a (T, S) policy to control inventory with T = 3 weeks. Calculate the...If you want to get a full essay, order it on our website:
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