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Problem 3: (6.17/224 Silver et.al. (1998) Book) Consider a company facing a demand pattern and...

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Accounting

Problem 3: (6.17/224 Silver et.al. (1998) Book)

Consider a company facing a demand pattern and costs as follows:

Month

Sequential number

Requirements (units)

January

1

350

February

2

200

March

3

0

April

4

150

May

5

500

June

6

600

July

7

450

August

8

350

September

9

200

October

10

0

November

11

150

December

12

200

Total

3150

Given the fixed ordering cost A = $50, carrying cost r (per month) $1.05, unit variable cost v = $65.00/ unit.

a/ Construct a replenishment schedule and calculate the associated costs using the Fixed Economic Order Quantity method.

b/ Repeat using the Wagner Whitin algorithm.

c/ Repeat using the Silver Meal heuristic.

d/ Repeat using the Least Unit Cost method.

e/ Repeat using the Part period Balancing method.

f/ Repeat using the Period Ordering Quantity method.

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