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Determine the economic order quantity?
Determine the economic order quantity?
SkipDue Date: Wed, 1/24/18Deliverable Length: 750–1,000 wordsAs the production manager, you need to minimize both ordering and inventory costs. You need to provide a recommendation of the optimal order quantity of raw materials to your plant manager. Your objective is to determine the economic order quantity (EOQ). If the annual demand for Ultamyacin at Smitheford is 400,000 units, then the annual carrying cost rate is 15% of the cost of the unit. The product costs $48/unit to purchase, and the product ordering cost is $28.00.In your report, discuss information based on the following questions:What is the basic EOQ?What is the TC (total cost) at the EOQ?How much would the TC increase if the order quantity must be 1,000 units?How is JIT (just-in-time) ordering methodology different from EOQ methodology?Show all your calculations
500–600 words Part 1 Having experienced a robust debate discussion on the strengths, weaknesses, opportunities, threats, and trends (SWOTT) analysis and strategic planning for a particular fast-food franchise, it is time to shift gears a bit and consider the competition in the fast-food industry. Read this article to frame this week’s discussion. (The Reference listed below). Complete the following: Identify 1 or 2 other major competitors in the fast-food industry, and describe their sources of competitive advantage. Discuss a current issue that this industry faces. It could be favorable or unfavorable to the industry. Which of the major competitors has the strongest competitive advantage and ability to overcome the barriers presented by the current issues identified and why? Part 2: Based on the first initial of your last name (The first initial of my last name is B). First initial M-Z: provide an argument ‘FOR’ the success of the fast-food franchise’s competitors. First initial A-L: provide an argument ‘AGAINST’ the ability of the competition to overtake fast-food franchise. In both considerations, provide research that supports your assertions. Reference Berger, S. (2015, June 30). Best restaurants in USA: Chick-Fil-A trumps competition, McDonald’s falls out of favor. Retrieved from the International Business Times Web site: http://www.ibtimes.com/best-restaurants-usa-chick-…
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