For questions we assume there are 52 weeks in a year and 4 weeks in a month

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For questions we assume there are 52 weeks in a year and 4 weeks in a month.

 

  Q1-Q2

Jack is planning on selling cake in Moon Festival.  The cost of a moon cake is $2.5 and Jack can sell it for $5.  After the Moon Festival, Jack has to reduce the price to $1.5. Jack forecast the demand to be normally distributed with mean of 200 and standard deviation of 40.

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1. What is the unit cost of ordering too many moon cakes?
   1. $1
   2. $3.5
   3. $2
   4. $2.5

 

 

 

1. How many should Jack order?
   1. 223
   2. 151
   3. 100
   4. 12

 

Q3-5

Suppose the demand for the next 3 weeks are given in the table. 

 

Period	1	2	3
Demand	10	20	30

 

 

The fixed setup cost is $100 and the inventory cost is $1 per unit per week.  Use the W-W procedure to complete the following table.

 

Last period with Production	Planning Horizon t
	1	2	3
1	100	A	180
2		200	?
3			220
Z*t			B
J*t			C

 

1. What is A?
   1. 140
   2. 110
   3. 120
   4. 220

 

1. What is B?
   1. 220
   2. 160
   3. 180
   4. 145

 

1. What is C?
   1. 1
   2. 2
   3. 3
   4. 180

 

 

Q6-Q8

 

Jack is managing an audio equipment store.  Suppose the demand for a Cary Audio SLI-80 Amplifier is 5 per week.  The unit cost is $3000.  Every time Jack order from the Cary Audio, he has to pay the fix shipping fee of $600.  The capital cost for Jack is 1% per month.

 

1. What is the holding cost per unit per week?
   1. $3
   2. $1.5
   3. $7.5
   4. $0.6

 

1. How many should Jack order to minimize the total inventory cost if the order quantity does not have to be integer?
   1. 28.28
   2. 14.14
   3. 20
   4. 45

 

1. What is the optimal order interval if Jack orders the EOQ?
   1. 1.4142 month
   2. 0.8 month
   3. 1.01 month
   4. 1.4 month

 

 

The demand and scheduled receipt for product A is given in the following table.  At the beginning, there are 20 units on hand inventory. The lot sizing rule for part A is fixed order quantity with Q =45, and the lead time is two week.  Complete the following MPS table.

 

Part A		1	2	3	4	5	6	7	8
Gross requirement		15	20	50	5	30	15	30	30
Scheduled receipts			20	45
Projected on-hand
Net requirement
Planned order receipts
Planned order release

 

 

1. What are the planned order releases?
2. 0,45,0,0,45,0,45,0
3. 0,45,0,45,0,45,0,0
4. 15,0,5,5,30,15,30,30
5. none of above

 

Jack is evaluating two technologies.  The fixed cost of technology A is $500 and there is 50% of the chance the variable cost will be $10 and 50% of the chance the variable cost will be 8.  For technology B.  The fixed cost is $1000 and there is 40% of the chance the variable cost will be $8 and 60% of the chance the variable cost will be 5.  Jack predicts that the life cycle production volume is 200 units. 

 

1. What is the Expected Monetary Value of technology A?
   1. -1800
   2. -2900
   3. -2300
   4. -3500