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Find and explain the economic order quantity and the

 

Week 6: Economic Ordering Quantity

Hide Assignment InformationTurnitin™Turnitin™ enabledThis assignment will be submitted to Turnitin™.Instructions

The annual requirements for a particular raw material are 2,000 units costing Re. 1 each to the manufacturer. The ordering cost is Rs. 10 per order and the carrying cost 16% per annum of the average inventory value.

 1. Based on the above

Find and explain the economic order quantity and the total inventory cost per annum.

The costs of placing an order are Rs. 150 per order. It is estimated that 1000 units will be used in the next 12 months. The carrying cost per month is Rs. 2.50. Assuming that the demand is deterministic and continuous and that no stock-outs are allowed, determine the optimal order quantity.

2. Based on the above, explain the following

 What is the time between the placing of orders?

The procurement lead time is one month.

What is the re-order point based on the on-hand inventory level?

See Template

Submission:

Complete and submit the template.   Follow APA format for the written sections of the assignment.  Include academic quality references to support your written work.

Due on Dec 12, 2024 11:59 PMAttachments 

Assignment Week 6

Name

American Public University

BUSN 312

Professor

Date

The annual requirements for a particular raw material are 2,000 units costing Re. 1 each to the manufacturer. The ordering cost is Rs. 10 per order and the carrying cost 16% per annum of the average inventory value.

1. Based on the above

Find and explain the economic order quantity and the total inventory cost per annum.

Question 1 Answer:

EOQ =

Total Inventory Cost per annum = Rs.

 

 

The costs of placing an order are Rs. 150 per order. It is estimated that 1000 units will be used in the next 12 months. The carrying cost per month is Rs. 2.50. Assuming that the demand is deterministic and continuous and that no stock-outs are allowed, determine the optimal order quantity.

2. Based on the above, explain the following

What is the time between the placing of orders?

The procurement lead time is one month.

What is the re-order point based on the on-hand inventory level?

Question 2 Answer

EOQ =

Time between orders =

Re-order Point =

,

BUSN Essay Rubric (JAN 2023) Course: BUSN312 I002 Fall 2024

Criteria Exemplary Accomplished Developing Beginning Did Not Attempt

Criterion Score

ILO:

Applied

Learning

/ 2020 points

Student

provided

strong

evidence

that they

completely

understood

the premises

of the lesson

content and

exhibits

expertise in

how to apply

the concepts

effectively.

17 points

Student

understood

the majority

of the

premises of

the lesson

content and

exhibits

knowledge

how to apply

the majority

of the

concepts

effectively.

Some minor

corrections

were

needed.

15 points

Student

understood

some of the

premises of

the lesson

content;

however

significant

portions

were not

thoroughly

understood

to the extent

needed to

apply the

concepts.

13 points

Student did

not appear

to

understand

the majority

of the basic

premises of

the lesson

content and

most likely

could not

apply a

majority of

the concepts

effectively.

0 points

Student did

not submit

an

assignment

or gave

evidence

they did not

understand

the lesson

material and

could not

apply any of

the concepts

effectively.

Criteria Exemplary Accomplished Developing Beginning Did Not Attempt

Criterion Score

Program

Objectives

/ 25

Course

Objectives

/ 25

25 points

Essay

thoroughly

and correctly

addressed all

variables,

questions,

and/or

management

factors

posed in the

instructions

correctly.

21.25 points

Essay

thoroughly

and correctly

addressed

90%+ of the

variables,

questions, or

management

factors

posed in the

instructions

correctly,

however,

one or two

questions

were not

answered as

thoroughly

as needed.

18.75 points

Essay

thoroughly

and correctly

addressed

80% to 90%

of the

variables,

questions, or

management

factors

posed in the

instructions

Some

answers

were not as

thorough as

required or

were

inaccurate.

16.25 points

Student

thoroughly

and correctly

addressed

only 70% to

80% of the

variables,

questions, or

management

factors

posed in the

instructions

correctly

and/or some

answers

were not as

thorough as

needed.

0 points

Student did

not submit

an

assignment

or addressed

less than

70% of the

variables,

questions, or

management

factors

posed in the

instructions.

25 points

Student

provided

more than

three

examples

that

reflected an

understandin

g of the

premises and

objectives of

the lesson

material.

21.25 points

Student

provided 2-3

examples

that

reflected an

understandin

g of the

importance

of the

premises and

objectives of

the lesson

material.

18.75 points

Student

provided 1

example that

reflected an

understandin

g of the

importance

of the

premises and

objectives of

the lesson

material.

16.25 points

Student did

not provide

any

examples

that

reflected an

understandin

g of the

importance

of the

premises and

objectives of

the lesson

material.

0 points

Student did

not submit

the

assignment.

Total / 100

Overall Score

Criteria Exemplary Accomplished Developing Beginning Did Not Attempt

Criterion Score

Narrative

clarity and

use of

correct

Grammar,

punctuatio

n, & word

choice

/ 20

Use of

APA

Format &

Style

/ 10

20 points

Writing is

consistently

clear

throughout

the essay

and

contained 0

– 2 different

grammar,

punctuation,

or word

choice

errors.

17 points

Writing is

generally

clear and/or

contained 3

– 4 different

grammar,

punctuation,

or word

choice

errors.

15 points

Writing is

less than

clear in

several

places

and/or

contains 5 –

6 different

grammar,

punctuation,

or word

choice

errors.

13 points

Writing is

unclear in a

significant

portion of

the essay

and/or

contains 7 –

8 different

grammar,

punctuation,

or word

choice

errors.

0 points

Paper

contains 9+

different

grammatical

errors OR

student did

not submit a

paper.

10 points

Paper

contains no

more than 2

APA errors,

including

formatting.

8.5 points

Paper

contains 3

different

APA errors,

including

formatting.

7.5 points

Paper

contains 4

different

APA errors,

include

formatting.

6.5 points

Paper

contains 5-6

different

APA errors,

including

formatting.

0 points

Student did

not submit

the

assignment

or had 6+

APA errors,

including

formatting

Exemplary 90 points

minimum

Accomplished 80 points

minimum

Developing 70 points

minimum

Beginning 60 points

minimum

Did Not

Attempt 0 points minimum

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