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  • CH 19 Inventory Theory

    Diunggah oleh

    Ritesh Sharma
    573 tayangan15 halaman
    The document outlines various inventory theory models including the basic EOQ model, EOQ model with planned shortages, EOQ model with quantity discounts, and stochastic models. Templates are provided for continuous and single period stochastic models as well as two period and infinite period models with no setup cost. The models can be solved analytically or using a solver to determine optimal order quantity and reorder points that minimize total costs.

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    Ch 19 Inventory Theory

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    The document outlines various inventory theory models including the basic EOQ model, EOQ model with planned shortages, EOQ model with quantity discounts, and stochastic models. Templates are provided for continuous and single period stochastic models as well as two period and infinite period models with no setup cost. The models can be solved analytically or using a solver to determine optimal order quantity and reorder points that minimize total costs.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai XLS, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    573 tayangan15 halaman

    CH 19 Inventory Theory

    Diunggah oleh

    Ritesh Sharma
    The document outlines various inventory theory models including the basic EOQ model, EOQ model with planned shortages, EOQ model with quantity discounts, and stochastic models. Templates are provided for continuous and single period stochastic models as well as two period and infinite period models with no setup cost. The models can be solved analytically or using a solver to determine optimal order quantity and reorder points that minimize total costs.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai XLS, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    dari 15

    Ch.

    19 - Inventory Theory

    Contents:
    Basic EOQ Model (Solver)
    Basic EOQ Model (Analytical)
    EOQ Model with Planned Shortages (Solver)
    EOQ Model with Planned Shortages (Analytical)
    EOQ Model with Quantity Discounts (Analytical)
    Template for the Stochastic Continuous-Review Model
    Template for the Stochastic Single-Period Model for Perishable Products, No Setup Cost
    Template for the Stochastic Single-Period Model for Perishable Products, with Setup Cost
    Template for the Stochastic Two-Period Model, No Setup Cost
    Template for the Stochastic Infinite-Period Model, No Setup Cost

    Click on the tab below to select the worksheet of your choice.


    Basic EOQ Model (Solver)
    Data Results
    a = 6000 (demand/year) Reorder Point = 216
    K = $115 (setup cost)
    h = $4.20 (unit holding cost) Annual Setup Cost = $1,203.74
    L = 9 (lead time in days) Annual Holding Cost = $1,203.74
    WD = 250 (working days/year) Total Variable Cost = $2,407.49

    Decision
    Q= 573.21 (order quantity)
    Basic EOQ Model (Analytical)
    Data Results
    a = 6000 (demand/year) Reorder Point = 216
    K = $115 (setup cost)
    h = $4.20 (unit holding cost) Annual Setup Cost = $1,203.74
    L = 9 (lead time in days) Annual Holding Cost = $1,203.74
    WD = 250 (working days/year) Total Variable Cost = $2,407.49

    Decision
    Q= 573.21 (order quantity)
    EOQ Model with Planned Shortages (Solver)
    Data Results
    a = 6000 (demand/year) Max Inventory Level = 458.94
    K = $115 (setup cost)
    h = $4.20 (unit holding cost) Annual Setup Cost = $963.77
    p = $7.50 (unit shortage cost) Annual Holding Cost = $617.80
    Annual Shortage Cost = $345.97
    Decision Total Variable Cost = $1,927.53
    Q= 715.94 (order quantity)
    Q-S= 257.00 (maximum shortage)
    EOQ Model with Planned Shortages (Analytical)
    Data Results
    a = 6000 (demand/year) Max Inventory Level = 458.94
    K = $115 (setup cost)
    h = $4.20 (unit holding cost) Annual Setup Cost = $963.77
    p = $7.50 (unit shortage cost) Annual Holding Cost = $617.80
    Annual Shortage Cost = $345.97
    Decision Total Variable Cost = $1,927.53
    Q= 715.94 (order quantity)
    Q-S = 257.00 (maximum shortage)
    EOQ Model with Quantity Discounts (Analytical)
    Data
    a = 6000 (demand/year)
    K = $115 (setup cost)
    I = 0.21 (inventory holding cost rate)
    N = 3 (number of discount categories)

    Annual Annual Annual Total


    Range of order quantities Purchase Setup Holding Variable
    Category Price Lower Limit Upper Limit EOQ Q* Cost Cost Cost Cost
    1 $20.00 0 749 573.21 573.21 $120,000.00 $1,203.74 $1,203.74 $122,407.49
    2 $19.80 750 1999 576.10 750.00 $118,800.00 $920.00 $1,559.25 $121,279.25
    3 $19.60 2000 10000000 579.03 2000.00 $117,600.00 $345.00 $4,116.00 $122,061.00

    Results
    Optimal Q = 750
    Total Variable Cost = $121,279.25
    Template for the Stochastic Continuous-Review Model
    Data Results
    a = 8000 (average demand/unit time) Q= 25674.89
    K = 12000 (setup cost) R= 10791.84
    h = 0.3 (unit holding cost)
    p = 10 (unit shortage cost)
    L = 0.75 (service level)

    Demand During Lead Time


    Distribution = Normal
    mean = 0
    stand. dev. = 16000
    Template for the Stochastic Single-Period Model for Perishable Produc

    Unit ordering cost c= 20


    Unit holding cost h= 100
    Unit shortage cost p= 45

    Exponential distribution Uniform distribution

    mean = 10000 a= 0

    y0 = 1892.42 b= 20000

    y0 = 3448.28
    r Perishable Products, No Setup Cost
    Template for the Stochastic Single-Period Model for Perishable Produc

    Unit ordering cost c= 20


    Unit holding cost h= -9
    Unit shortage cost p= 45
    Setup cost K= 2

    Exponential distribution Uniform distribution


    mean = 10000 a= 0
    S= 11856.24 b= 20000
    s= 11795.98 S= 13888.89
    s= 13841.75
    Perishable Products, with Setup Cost
    Template for the Stochastic Two-Period Model, No Setup Cost

    Unit ordering cost c= 10


    Unit holding cost h= 10
    Unit shortage cost p= 15

    Exponential distribution Uniform distribution


    mean = 5 t= 10

    y10 = 3.71 y10 = 5.42

    y20 = 1.12 y20 = 2


    etup Cost
    Template for the Stochastic Infinite-Period Model, No Setup Cost

    Unit ordering cost c= 35


    Unit holding cost h= 1
    Unit shortage cost p= 15
    Discount factor a= 1

    Exponential distribution Uniform distribution

    mean = 400 t= 800

    y0 = 1044.53 y0 = 741.25
    o Setup Cost

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