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Question: 74,7% Rice Inc. is a multinational company supplying starch worldwide. In order to cope with the …

by | Nov 30, 2023 | Posted Questions



Question: 74,7% Rice Inc. is a multinational company supplying starch worldwide. In order to cope with the ...
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Show transcribed image text 74,7% Rice Inc. is a multinational company supplying starch worldwide. In order to cope with the increasing demand, Rice Inc. needs to purchase Rice from many countries to be processed in its milling plants. Daily demand for starch over the last two years is given in Table x CX is your group number). The cost to prepare a purchase order rice is Ro 200. Each ton of rice of costs the company Ro 80 and the annual inventory holding cost rate is 10%. Generally, the delivery of an order requires 3 weeks The current invento policy consists of fixed orders of 5000 tons of rice. Rice Inc. is open 5 days per week over 50 weeks yearly. Part A Demand for starch is, on average, constant. 1. Calculate the annual inventory cost under the current inventory policy. 2. Which model should be used to find the best inventory policy? Justify your answer. 3. Determine the optimal order quantity and the minimal inventory cost. 4. How much savings does Rice Inc. achieve throughout the optimal policy? 5. The most recent order for rice has been placed on Sunday 13 November 2016 at 8:00 a m. When do you expect the delivery to occur? Explain. 6. What was the on-hand inventory on Sunday 13 November 2016? Explain. 7. Starch is a product that is very sensitive to the air conditioning of the warehouse. Due to frequent power blackouts, Rice's managers noticed that most of the stock spoils within less than a week. Therefore, they are thinking seriously to adjust their inventory policy so that to avoid too much loss. What would you advise them to do? Explain

74,7% Rice Inc. is a multinational company supplying starch worldwide. In order to cope with the increasing demand, Rice Inc. needs to purchase Rice from many countries to be processed in its milling plants. Daily demand for starch over the last two years is given in Table x CX is your group number). The cost to prepare a purchase order rice is Ro 200. Each ton of rice of costs the company Ro 80 and the annual inventory holding cost rate is 10%. Generally, the delivery of an order requires 3 weeks The current invento policy consists of fixed orders of 5000 tons of rice. Rice Inc. is open 5 days per week over 50 weeks yearly. Part A Demand for starch is, on average, constant. 1. Calculate the annual inventory cost under the current inventory policy. 2. Which model should be used to find the best inventory policy? Justify your answer. 3. Determine the optimal order quantity and the minimal inventory cost. 4. How much savings does Rice Inc. achieve throughout the optimal policy? 5. The most recent order for rice has been placed on Sunday 13 November 2016 at 8:00 a m. When do you expect the delivery to occur? Explain. 6. What was the on-hand inventory on Sunday 13 November 2016? Explain. 7. Starch is a product that is very sensitive to the air conditioning of the warehouse. Due to frequent power blackouts, Rice's managers noticed that most of the stock spoils within less than a week. Therefore, they are thinking seriously to adjust their inventory policy so that to avoid too much loss. What would you advise them to do? Explain

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