CLA 2 Comprehensive Learning Assessment 2 – CLO 4, CLO 5, CLO 6, CLO 7
You are in charge of a manufacturing plant. Using your skills related to the Economic Order Quantity (EOQ) model and Economic Production Quantity (EPQ) model for two different work scenarios, your next task is to:
- Use EOQ to calculate:
the Annual Demand, the Annual Holding Cost, the Quantity to be Ordered, the Total Annual Cost, and the Reorder Point. Provide a list of the assumptions that you make.
Given EOQ Parameters from your log:
Weekly Demand = 240 units
# of weeks per year = 52
Ordering Cost = $50
Unit Cost = $15
Annual Carrying Charge = 20%
Lead Time = 2 weeks
- Use EPQ to calculate:
the Annual Demand, the Adjusted Total Cost, the Quantity to be Ordered, The Maximum Inventory, and the Adjusted Order Quantity.
Given EPQ Parameters from your log:
Annual Demand = 8,000 units
Production Rate = 2,500 units/month
Setup Cost = $800
Annual Holding Cost= $18 per unit
Lead Time = 5 days
No of Operating Days Per Month = 20
- Provide an overview of the presumptions that you have made. What are your conclusions? When would you use an ABC-analysis and how would that work?
Your 6-8-page, APA-formatted paper must include an introduction and a clear thesis, several body paragraphs, and a conclusion. Implement the concepts learned in this course. All supporting information (four resources minimum) must be properly identified, cited, and referenced following APA-7th Edition style. Top papers demonstrate a solid understanding of the material with both qualitative and quantitative elements AND critical thinking.
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