# BUSI640 Quantitative Inventory Analysis Assignment

Question # 00653057
Due on: 05/06/2024
Posted On: 05/06/2024 06:01 AM
Tutorials: 1
Rating:
4.9/5
Question

BUSI 640

QUANTITATIVE INVENTORY ANALYSIS ASSIGNMENT INSTRUCTIONS

OVERVIEW

The assignment will provide practical knowledge in determining safety stock calculations so that healthcare stock items can be available when needed at the point of service. Hospitals require that their inventory management systems always maintain an optimum safety stock to prevent any stock-outs, which enables the clinical care team to maintain the quality of care and patient satisfaction and to avoid emergency orders of equipment and supplies that are at a high cost. The quantity of the buffer stock that is needed by any hospital system is dependent upon on the lead time to deliver.

INSTRUCTIONS

The assignment will provide practical knowledge in determining safety stock calculations so that healthcare stock items can be available when needed at the point of service.

Use the Quantitative Inventory Analysis Template for the following problem:

Hospital purchasing agent Abby Smith needs to order examination gloves for the hospital. Currently, she orders 1,000 boxes of gloves whenever she thinks there is a need. Abby has heard that there is a better way to do this and wants to use economic order quantity to determine how much to order and when to order. She collects the following information.

Cost of the gloves: \$4.00 per box

Carrying costs: 33%, or \$__________ per box

Cost of ordering: \$150 per order

Annual demand: 10,000 boxes per year

a. Tab 1 (Basic EOQ/ Economic Order Quantity) What quantity should Abby be ordering? Prove that your order quantity is “better” than Abby’s by graphing ordering costs, holding costs, and total costs for 1,000, 1,500, and 2,000 boxes.

b. Tab 2 (ROP no SS/ Reorder Point No Safety Stock) How often will Abby need to order? About how many days will there be between orders?

c. Tab 2 (ROP w SS/ Reorder Point No Safety Stock) Assuming that Abby is not worried about safety stock, when should she place this order?

d. Tab 3 (ROP w SS/ Reorder Point with Safety Stock) Abby decides she will be happy if the probability of a stockout is 5 percent. How much safety stock should Abby carry? Items to include are outlined as follows:

• Length of assignment 1 excel sheet / 3 tabs o 1 excel spreadsheet

? Tab 1 EOQ (Economic Order Quantity)

? Tab 2 ROP no SS (Reorder Point No Safety Stock)

? Tab 3 ROP w SS (Reorder Point with Safety Stock)

Notes on Using the EOQ Template

All values in blue cells are to be entered by the user. All other values are automatically calculated and do not need to be altered. Each worksheet has a sample value set entered. Make sure to clear all values before proceeding with your own data. Cells with red marks in the upper right corner have comments. Let the mouse hover over those cells to read the comments to further explain the template model.

This spreadsheet is locked to keep the cells with equations from being changed.

Posted By :
Questions: 14872 Tutorials: 14871
Tutorials for this Question

#### BUSI640 Quantitative Inventory Analysis Assignment

Tutorial # 00651954
Posted On: 05/06/2024 06:02 AM
Feedback Score: Not rated yet!
Purchased By: 2
Posted By:
Questions:
14872
Tutorials:
14871
Tutorial Preview
The solution of BUSI640 Quantitative Inventory Analysis Assignment...
Attachments
BUSI640_Quantitative_Inventory_Analysis_Assignment.ZIP (18.96 KB)

Great! We have found the solution of this question!

Related Questions
What are the Committee Reports to which the USSC
Reread the USSC opinion in the case of Dickman v. Commissioner, 465 U.S. 330 (1980). The edited opinion can be found beginning on page 48 of the text. You can find (but do not need to find) the f …
Week 8 Discussion - In business, feedback from customers
week 8 discussion In business, feedback from customers is critical to advancing products and services and staying current with trends. It also creates a bridge between the company and its target ma …
Ethics and moral responsibility - how would you describe the marketing
Ethics and moral responsibility For this assignment, you will read an article and answer a series of questions concerning the ethics and moral responsibilities involved with a controversial marketi …
BUS120 They are about three highly publicized incidents
BUS120 Read these articles. They are about three highly publicized incidents where actions by employees forced each company to take a drastic and unusual action. As you read, think about the ethics …
Week 6 - Legal and regulatory issues relate to differences in laws
WK6:BSN ASSIGN Legal and regulatory issues relate to differences in laws and regulations for both domestic and multinational companies. discuss how political, legal, and ethical issues can affect t …
BUSI640 Quantitative Inventory Analysis Assignment
BUSI 640 QUANTITATIVE INVENTORY ANALYSIS ASSIGNMENT INSTRUCTIONS  OVERVIEW The assignment will provide practical knowledge in determining safety stock calculations so that healthcare sto …
MBA504 Business Question Overview Since visualization plays an important role in business communication between consultants and stakeholders, Power BI is a popular tool to use with Excel data …
Departmentalization, Chain of Command, Span of Control
1.) Provide a real world example of work specialization. Please use at least two of these key terms in your answer: Departmentalization, Chain of Command, Span of Control, Centralization and …
Discussion 5 - Business Information Systems
Business Information Systems Discussion 5 The Internet has, in many ways, made the world smaller. We are now able to communicate in real-time with people anywhere in the world. Considering that pri …
Discussion 10 - What is debt management, and why is it important
Discussion No. 10 Answer these questions in your original post (please remember to cite in-text using module resources): What is debt management, and why is it important for public organizati …
Recent Questions
Aspen DNP850 All Assignments Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 1 Assignment Write a 1000-1500 word essay addressing each of the following points. Be sure to completely address each bullet point. Separate …
Aspen DNP850 Module 8 Assignment Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 8 Assignment Advanced Nursing Leadership Reflection Reflecting on the readings and lessons from the course, your assignment is to explor …
Aspen DNP850 Module 7 Assignment Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 7 Assignment Proctored Assessment - Key Stakeholders Assignment Proctored Assessments are administered at predetermined points during a …
Aspen DNP850 Module 6 Assignment Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 6 Assignment DNP Essential PowerPoint Based on what you have learned so far in this course, create a PowerPoint presentation that addres …
Aspen DNP850 Module 5 Assignment Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 5 Assignment Current Health Issue Essay Write a 2000-2500 word essay addressing each of the following points/questions. Be sure to compl …
Aspen DNP850 Module 4 Assignment Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 4 Assignment Doctoral Prepared Nursing Educators Write a 1500-2000 word essay addressing each of the following points/questions. Be sure …
Aspen DNP850 Module 3 Assignment Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 3 Assignment Nursing Ethic Paper Write a 1500-2000 word essay addressing each of the following points/questions. Be sure to completely a …
Aspen DNP850 Module 2 Assignment Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 2 Assignment Healthcare Problem PowerPoint Based on what you have learned so far in this course, create a PowerPoint presentation that a …
Aspen DNP850 Module 1 Assignment Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 1 Assignment Write a 1000-1500 word essay addressing each of the following points. Be sure to completely address each bullet point. Separate …
Aspen DNP850 All Journals Latest 2024
DNP850 Sect1 Nursing Practice, Professionalism Module 1 Journal Essence of Doctoral Nursing Considering the history of nursing and how it has evolved to the development of the DNP degree, dis …