Practical Workshop - Inventory Control Methods.
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For better understanding in the development of the proposed activity, it is very important that
review the study materials and research in the suggested bibliographical references in
this learning guide. For the completion of this transfer activity, you must read
each of the statements and provide answers to the questions presented:
a.McQuin Store stores electric drills that sell a lot. The demand
annual is 5,000 units, the ordering cost is $15 and the holding cost
Inventory is $4 per unit per year. With the above information determine:
What is the economic lot?
What is the total annual cost of the inventory for this item?
ANALYZING THE EXERCISE IT IS FOUND:
The annual demand is 5,000 units
D = 5000 UNITS.
The cost of ordering is $15
S = 15
The cost of maintaining inventory is $4 per unit per year
H= 4
BEING Q *(EOQ) THE ECONOMIC ORDER QUANTITY OR ECONOMIC LOT:
2ds √ 2∗5000∗15
∗= √H = 4
104 drills per order
TOTAL COST OF INVENTORY FOR THIS ITEM IS DETERMINED
LIKE THIS:
TC= *S + 2*H = (5100040) ∗ 15+ (104) ∗ 4= 1449
2
A hospital is facing the following problem: it needs to decide how much blood of each type
to remain in the inventory. Due to the high cost of blood and its short lifespan (up to
5 weeks in refrigeration), it is natural for the hospital to want to keep the inventory as
as low as possible. However, the risk of natural and social disasters that occurred
In the past, they demonstrated that lives are lost when there is not enough blood available.
to meet the massive needs. The hospital manager wants to prevent this type of
situations.
What strategies would you advise the hospital manager to use to ensure the
Attention all users in case of an emergency?
R/: Implement a digitalized ABC type inventory control system, with a count
permanent, in addition to having an adequate and extensive backup database.
A computer company purchases 8,000 transistors in a year. The unit cost
the cost of each transistor is $100, and the cost of keeping a transistor in inventory during
One year costs $30. The ordering cost is $300 per order and operates 200 days a year.
With this information calculate:
What is the optimal lot size?
What is the expected number of orders to be placed per year?
What is the waiting time between orders?
Solution:
D = 8000 Transistors in one year (demand)
C = 100 (unit cost)
30 (maintenance cost)
H = 300 (holding cost)
Opera 200 days a year
Optimal Lot:
2ds √ 2∗8000∗30
∗= √H = 300
40 transistors per order
Expected number of orders per year
8000
N= ∗= = 200 ñ
40
Expected time between orders
ñ 200
= 1 day between order
200
The annual demand for folders in a large stationery store is 10,000 units.
Stationery operates its business 30 days a year and generally deliveries by the
Supplier takes 5 business days.
Calculate the reorder point for the folders.
Applying the reorder point theory, we have:
Being,
R= Reorder point or new order
D = daily demand
L= Time period
To calculate the daily demand, the following is considered:
(annual demand)
d= = 10000333.33 = 333 daily folders.
30
Searching for the reorder point or new order point, we have:
Being:
d = 333 folders daily
Generally, deliveries from the supplier take 5 business days.
L = 5 days
R = d L =10000∗ 5= 333∗ 5= 1665
30
A beverage company has an annual demand of 5,000 boxes. Currently,
pays $64 for each box. The cost of maintaining inventory is 25% of the unit cost
and the ordering costs are $25. A new supplier has offered to sell the same
Item for $60 if the company buys at least 3,000 boxes per order. Analyze the situation.
previous.
Do you think the company should change suppliers taking advantage of
discount for quantity?
The amount to be determined with the granted discount would be calculated, so we have:
Being without discount:
D = 5000 boxes annual demand
S = 25 cost of ordering
P = 64 unit cost
H = 25 % = 0.25 cost of maintenance
2DS √ 250000
Q* =√ = = 125
ℎ 64 times 0.25
Total cost without discount:
H = h * p = 64 * 0.25 = 16
C =2 +
∗
5000
C =12516 + 25= 2000
2 125
Calculation with discount:
Being with discount:
D= 5000 boxes annual demand
S = 25 cost of ordering
P = 60 unit cost
h = 25% = 0.25 cost of maintenance
Q* = 3000 boxes per order
H = h*p = 60 * 0.25 = 15
C = Q*+ 2∗ +
∗
5000
C =300015+ 25= 22542
2 3000
Analyzing the previous equations, the reality for the current demand of the company
Regarding this product, the offered discount is not viable, I will NOT change from
supplier, I do not consider it feasible, if the volume of demand were greater, it would logically be
a very profitable discount
