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Supply Chain Management-NMIMS Solution Dec 20

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Supply Chain Management

NMIMS Assignment Dec 2020

Solution Status: In-process – Need 2-3 days after payment

1st Semester NMIMS Dec 2020 – Rs. 3000/- Only

2nd Semester NMIMS Dec 2020 – Rs. 3000/- Only

3rd Semester NMIMS Dec 2020 – Rs. 3000/- Only

4th Semester NMIMS Dec 2020 – Rs. 2500/- Only

Note: You have to edit 10-20% before submission for avoid copy case. Why need

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June 2020

1. A medical device company sells branded power tools to the hospitals. The annual demand is approximately 1,800 batteries. The cost price per power tool is $250 for and estimated annual holding cost is 35% of the product’s value. It costs approximately $180 to place an order (ordering cost). The company currently orders 150 power tools per month (considering LT as 30 days).

a. Determine the ordering, holding, and total inventory costs for the current order quantity.
b. Determine the economic order quantity (EOQ).
c. How many orders should be placed per year using the EOQ?
d. Determine the ordering, holding, and total inventory costs for the EOQ.

2. M/s Futurama, handles a variety of imported auto components. One of the key components is suspension systems. Considering the criticality of this part, company has built a separate storage facility that has annual fixed cost of US$,5000. Since the components are imported, company is incurring following ordering costs

  • Delivery cost per order = US$2000
  • Import Duty per Order = US$300
  • Custom Fees per Order = US$200
  • Import License per annum = US$200

There is a total demand of 12000 pieces per annum (monthly demand of 1000 pieces with a standard deviation of 100 pieces). The supply lead time is 1 month with a standard deviation of 0.3 month. company is conveniently placing one order every month with an average qty of 1000. The cost per piece is US$30. The annual holding cost rate is 30%. Calculate cycle stock and safety stock point if the firm is willing to tolerate a 1% chance (Z0.99 = 2.32) of a stockout during an order cycle. Also calculate the total cost of inventory.


3. a. Explain the situation, when it is advisable to use exponential smoothing methods of forecasting over the moving average method of forecasting. For a product in the growth phase of life cycle, which method would you prefer any why?

3. b. State the difference between the key inventory indicators; Inventory Turns Ratio and Days of Inventory Outstanding. Income statement of Alexa Corporation from 2019 showed the cost of goods sold (COS) was $39.40 million, and its average inventory value during the same period was $8.32 million. Calculate company’s number of Inventory Turns Ratio (ITR) for that year and Days of Inventory Outstanding (DIO).

Previous Semester

  1. Vashi pharmaceuticals, Inc., handles a variety of health products. A weight reduction product costs the company $2.95 per unit. The annual holding cost rate is 20 percent. Using an EOQ model, they determined that an order quantity of 300 units should be used. The lead time to receive an order is one week, and the demand is normally distributed with a mean of 150 units per week and a standard deviation of 40 units per week. Calculate cycle stock and safety stock point if the firm is willing to tolerate a 1% chance (Z0.99 = 2.32) of a stockout during an order cycle. Also calculate the total cost of inventory. (10 Marks)
  2. An auto parts supplier sells branded batteries to the auto mechanics. The annual demand is approximately 3,600 batteries. The supplier pays $28 for each battery and estimates that the annual holding cost is 25% of the battery’s value. It costs approximately $20 to place an order (ordering cost). The supplier currently orders 300 batteries per month.
    a. Determine the ordering, holding, and total inventory costs for the current order quantity.
    b. Determine the economic order quantity (EOQ).
    c. How many orders should be placed per year using the EOQ?
    d. Determine the ordering, holding, and total inventory costs for the EOQ. (10 Marks)
    3.a. Calculate Forecasting error (MAD, MSE, RMSE and MAPE) for the data given below
    Period 1 2 3 4 5 6 7 8
    Forecast 10 15 10 15 25 15 20 25
    Demand 15 15 20 15 10 20 20 30
    (5 Marks)
    3.b. Please provide a brief overview of S&Op process, inputs, outputs and key metrics. (5 Marks)