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[answered] Merrill Corporation has: Continuous Review System (Q System


Please help with this question. Topic is P & Q systems in operations?


Merrill Corporation has:

 

Continuous Review System (Q System)

 

5 days per week

 

52 weeks a year

 

Demand (D) = 20,020 units/year

 

Ordering Costs (S) = $40/order

 

Holding Costs = $1/unit/six months

 

Leadtime (L) = 10 days

 

Cycle Service Level = 94.95%

 

Demand is normally distributed

 

Standard Deviation of weekly demand = 100 units

 

Current on-hand inventory is 1040 units

 

no scheduled receipts

 

no backorders.

 

1. EOQ for this item is? 2. The average time, P (in weeks), between orders is: (round to the nearest week)? 3. The safety stock for the Q system is? 4. The safety stock for the P system is? 5. The reorder point, R, in the Q system is (in units)? 6. Annual Holding Costs equal (in Dollars)? 7. Annual Costs for placing orders is (in Dollars)? 8. Assuming that a withdrawal of 15 units just occurred, will you place an order? 9. Assume that we are now operating a P system. Then, the target level, T, is (in units)? 10. The difference between the safety stock for the P system and the Q system is (in units):

 

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