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MGT613 Assignment No 02 Fall 2020 Solution / Discussion Due Date: 10-02-2021

PRODUCTION/OPERATIONS MANAGEMENT (MGT613)
ASSIGNMENT NO.2
FALL2020
Due Date: February 10, 2021
Marks: 10

Description:

Dildar Limited is a private company that deals in the selling of electric cable coils. The company expects to sell around 4,600 coils of cable in the upcoming year. The annual carrying cost is Rs 32 per coil and ordering cost is Rs 800 per coil. The distributor operates around 288 days a year.

Requirements:

A. What is EOQ? (Marks: 3)

B. How many times per year does the store reorder?(Marks: 3)

C. What is the total annual cost if the EOQ quantity is ordered?(Marks: 4)

Note: Do mention the formulas along with calculations to get good grades.

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MGT613-Assignment-2-Solution-Fall-2020

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MGT613-Assignment-2-Solution-Fall-2020.docx

1

EOQ=squareroot(2*Annual sale*ordering cost)/Annual carrying cost

      =squareroot(2*4600*800/32)

      =480 cables

2

The number of times the store will reorder=Annual Demand/EOQ

4600/480=10 times

3

Total Annual cost=carrying cost + ordering cost

                        =480/2(32)+ 4600/10(800)

                         =7680+368000

                        =Rs.375680

MGT613 Assignment-02 Fall 2020

 

Description:

Dildar Limited is a private company that deals in the selling of electric cable coils. The company expects to sell around 4,600 coils of cable in the upcoming year. The annual carrying cost is Rs 32 per coil and ordering cost is Rs 800 per coil. The distributor operates around 288 days a year.

 

Requirements:

  1. What is EOQ?
  2. How many times per year does the store reorder?
  3. What is the total annual cost if the EOQ quantity is ordered?

 

Quantity Expected to be sold, D = 4,600 Coils of cable

Annual Carrying Cost,  H = 32 per Coil

Ordering Cost,                         S = 800 per Coil

Working Days,                 = 288 in a year

 

Solution A

 

QOPT

QOPT

QOPT

QOPT

QOPT = 479.58 Coils = 480 Coils

 

Solution B

 

D/Q = 4,600/480

D/Q = 9.58 Times

D/Q = 10 Times

 

Solution C

 

 

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