M3 Written Assignment #1
Due November 28, 2021
Note 1: Show all your work to get credit! Write your solutions clearly and neatly.
Note 2: Cite your sources properly and include them in a references section at the end.
Note 3: Question 1 worth 20 points and questions 2 and 3 worth 15 points each.
Question 1
Chapter 9: A pharmacist is trying to determine the inventory order and stock levels for a particular drug. The following information is available about the drug.
Demand
39 tablets/week
Working weeks per year
52 weeks
Purchase price
$20/tablet
Annual holding cost per unit
25% of the unit purchase price
Order cost
$30/order
Standard deviation of weekly demand
7 tablets
Lead time
2 weeks
Desired cycle service level
95%
What is the economic order quantity (EOQ) for the drug?
What would be the average time between orders (in weeks) for the EOQ model?
If the firm decides to use the continuous review system to control the inventory for the drug, what should the reorder point R be?
If the firm decides to use the periodic review system to control the inventory for the drug, what should be the target inventory level T? Assume that the time between reviews, P, is the average time between orders as calculated in part b.
For the most recent review, an inventory clerk checked the inventory of the drug and found 105 tablets. There were no open orders or backorders at the time. Determine how many units should the firm order for the periodic review system.
Question 2
Chapter 10: Currently a company that designs Web sites has five customers in its backlog. The time since the order arrived, processing time, and promised due dates are given in the following table.
Job
Time Since Order Arrived
(days ago)
Processing Time
(days)
Due Date
(days from now)
A
5
16
58
B
3
24
54
C
2
30
80
D
10
20
26
E
7
12
62
Create a schedule using the first-come first-serve (FCFS) rule, calculating the average flow time and average days past due.
Create a schedule using the earliest due date (EDD) rule, calculating the average flow time and average days past due.
Comment on the performance of the FCFS and EDD rules relative to average flow time and average days past due.
Question 3
Chapter 11: Research and read about the enterprise resource planning (ERP) systems and answer the following questions in your own words (about 500-600 words). You should provide at least two references other than the textbook.
Discuss three advantages and three disadvantages of the ERP systems.
For an organization of your choice, such as your previous or current organization, discuss how an ERP system could be used and benefit the organization.
3
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