Question: Johnson Corporation has the following information about a product that it carries in stock: Use T…

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Jun 13, 2022

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Question: Johnson Corporation has the following information about a product that it carries in stock: Use T…

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Johnson Corporation has the following information about a product that it carries in stock: Use Table 7-2 Average demand 55 units per day Average lead time 25 days Item unit cost $65 for orders of less than 400 units Item unit cost $62 for orders of 400 units or more Ordering cost $43 Inventory carrying cost 20% The business year is 300 days Standard deviation of demand 2.6 units Standard deviation of lead time 2.2 days Desired service level 97.72% a. what is the annual total acquisition cost of ordering at the $65 price? places.) Do not round intermediate calculations Round your calculation or o othe nea e mo e numbe and final answer。「decimal b. What is the annual total acquisition cost of ordering at the $62 price? (Round your answer to 2 decimal places.) I total acquisition cost c. What level of safety stock should Johnson maintain for the item? (Do not round intermediate calculations. Round up your answer to the next whole number.) l of s stock Units d. If Johnson chooses the ordering policy that results in the lowest total annual acquisition cost, and maintains the safety stock level for 97.72 percent service, what will Johnsons average inventory be for this item? Units

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Johnson Corporation has the following information about a product that it carries in stock: Use Table 7-2 Average demand 55 units per day Average lead time 25 days Item unit cost $65 for orders of less than 400 units Item unit cost $62 for orders of 400 units or more Ordering cost $43 Inventory carrying cost 20% The business year is 300 days Standard deviation of demand 2.6 units Standard deviation of lead time 2.2 days Desired service level 97.72% a. what is the annual total acquisition cost of ordering at the $65 price? places.) Do not round intermediate calculations Round your calculation or o othe nea e mo e numbe and final answer。「decimal b. What is the annual total acquisition cost of ordering at the $62 price? (Round your answer to 2 decimal places.) I total acquisition cost c. What level of safety stock should Johnson maintain for the item? (Do not round intermediate calculations. Round up your answer to the next whole number.) l of s stock Units d. If Johnson chooses the ordering policy that results in the lowest total annual acquisition cost, and maintains the safety stock level for 97.72 percent service, what will Johnson's average inventory be for this item? Units

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