USIM Wine Sells a Wide Range of Liquor - Management Assignment Help
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Assignment Task :
USIM Wine sells a wide range of liquor. One particular line of product is its highest end liquor “Conquer XVII” which is sold at $1,880 per bottle. Demand for “Conquer
XVII” is constant at 40 units a week, and the economic order quantity is calculated to be 100 units. Solve the following inventory problems.
(a) What is the reorder level if lead time is constant at four weeks?
(b) What is the effect of adding some margin of safety and raising the reorder level by ten units?
(c) What is the difference in the outcome if the lead time falls to two weeks versus rising to six weeks?
(d) Identify any two (2) assumptions of the economic order quantity model.
Jason’s Place is a local distributor for a popular toy drone. Having been in operation for six months, the store notices that its mean demand is 200 units a week, with a standard deviation of 40 units. Lead time for new stocks to arrive is constant at 2 weeks and each unit cost $10 to store. For operational simplicity, the store’s inventory manager conducts stock checks every 4 weeks. The current practice is to provide a 95% service level.
(a) At the most recent stock check, there are 200 units in stock. Analyse the order quantity and the current inventory control practice by identifying the key indicators.
(b) The store owner would like to explore the possibility of increasing the service level to 98%. Discuss the implications if the service level is increased to 98%.
(a) One of the most important trends in recent years has been the proliferation of ecommerce. Describe the impact of e-commerce on inventory management.
(b) Outline any three (3) important parameters required for aggregate planning. In your answer, you should identify and define clearly the parameters needed.
You should also relate how the aggregate plan can be useful to an organisation.
(a) In what type of companies is MRP most widely used? Are there any specific problems for service industry to use MRPs? Give some real examples to support your views
(b) Best Home Furnishing Ltd assembles high-end study desks for corporate offices. The desk is assembled using bought-in parts of four legs and a top. Legs and tops have lead times of 2 and 3 weeks respectively, and assembly takes a week. The company receive orders for 40 tables to be delivered in week 5 of a production period and 80 tables in week 7. There are current stocks of 4 complete tables, 80 legs and 44 tops. Apply MRP methods to answer the following.
(i) Prepare the bill of materials.
(ii) Prepare a schedule to determine when the company should order parts
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