{"id":35023,"date":"2024-10-15T18:18:04","date_gmt":"2024-10-15T18:18:04","guid":{"rendered":"https:\/\/www.writemyessays.app\/blog\/questions\/inventory-management-and-lean-operations-are-a-large-part-of-making-operations-work\/"},"modified":"2024-10-15T18:18:04","modified_gmt":"2024-10-15T18:18:04","slug":"inventory-management-and-lean-operations-are-a-large-part-of-making-operations-work","status":"publish","type":"questions","link":"https:\/\/www.writemyessays.app\/blog\/questions\/inventory-management-and-lean-operations-are-a-large-part-of-making-operations-work\/","title":{"rendered":"Inventory management and lean operations are a large part of making operations work."},"content":{"rendered":"<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\">Inventory management and lean operations are a large part of making operations work.<\/p>\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\">ASC Machine Shop uses 2,500 brackets over the course of a year. These brackets are purchased from their supplier, Best Brackets, located 90 miles away. The following information is known about the brackets:<\/p>\n<ul style=\"margin-bottom: 1rem; padding-left: 1.3rem; font-size: 14px; cursor: auto; color: inherit;\">\n<li style=\"cursor: auto; color: inherit;\">Annual demand: 2,500<\/li>\n<li style=\"cursor: auto; color: inherit;\">Holding cost\u2014per bracket, per year: $1.50<\/li>\n<li style=\"cursor: auto; color: inherit;\">Order cost, per order: $18.75<\/li>\n<li style=\"cursor: auto; color: inherit;\">Lead time: 2 Days<\/li>\n<li style=\"cursor: auto; color: inherit;\">Working days per year: 250<\/li>\n<\/ul>\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\"><span style=\"font-weight: 600; cursor: auto; color: inherit;\">Note:<\/span><span style=\"cursor: auto; color: inherit;\">&nbsp;<\/span>This is a corporate operation, and there are 250 working days per year.<\/p>\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\">Download this template to complete this assignment:<span style=\"cursor: auto; color: inherit;\">&nbsp;<\/span><a style=\"cursor: auto;\">Unit 4 IP Template<\/a>.<\/p>\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\">Using what you have learned, use the template to calculate your answers, and then respond to the following questions:<\/p>\n<ol style=\"margin-bottom: 1rem; padding-left: 1.3rem; font-size: 14px; cursor: auto; color: inherit;\">\n<li style=\"cursor: auto; color: inherit;\">Given the information, what is the economic order quantity (EOQ)?<\/li>\n<li style=\"cursor: auto; color: inherit;\">Once you have the EOQ determined, provide the average inventory. What is the annual inventory holding cost based on this information?<\/li>\n<li style=\"cursor: auto; color: inherit;\">Knowing the EOQ, how many orders are made each year? What is the annual order cost based off this information?<\/li>\n<li style=\"cursor: auto; color: inherit;\">Now that you know the EOQ, what is the total annual cost of inventory?<\/li>\n<li style=\"cursor: auto; color: inherit;\">What is the time between orders?<\/li>\n<li style=\"cursor: auto; color: inherit;\">Why are the EOQ and ROP important for operations and planning? Provide at least 2 examples.<\/li>\n<\/ol>\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\">Once you have completed your table, write a 1\u20132-page paper that addresses the reasoning for your responses. Be sure to submit your IP Unit 4 template for this assignment as well as the Word document.<\/p>\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\">\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\"><span style=\"font-weight: 600; cursor: auto; color: inherit;\">Please submit your assignment.<\/span><\/p>\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\"><span style=\"font-weight: 600; cursor: auto; color: inherit;\">For assistance with your assignment, please use your textbook and all course resources.<\/span><\/p>\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\">\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\">\n<p style=\"margin-bottom: 1.5rem; font-size: 14px; cursor: auto; color: inherit;\"><span style=\"font-weight: 600; cursor: auto; color: inherit;\">Individual Project Rubric<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inventory management and lean operations are a large part of making operations work. ASC Machine Shop uses 2,500 brackets over the course of a year. These brackets are purchased from their supplier, Best Brackets, located 90 miles away. The following information is known about the brackets: Annual demand: 2,500 Holding cost\u2014per bracket, per year: $1.50 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[9],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/questions\/35023"}],"collection":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/comments?post=35023"}],"version-history":[{"count":0,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/questions\/35023\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/media?parent=35023"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/disciplines?post=35023"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/paper_types?post=35023"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.writemyessays.app\/blog\/wp-json\/wp\/v2\/tagged?post=35023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}