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Chapter 12

Q. 12.EX.4

COMPUTING NUMBER OF ORDERS AND TIME BETWEEN ORDERS AT SHARP, INC.. Sharp, Inc. (in Example 3) has a 250-day working year and wants to find the number of orders (N) and the expected time between orders (T).
APPROACH \blacktriangleright Using Equations (12-2) and (12-3), Sharp enters the data given in Example 3.

Expected number of orders = N = \frac{Demand}{Order  quantity} = \frac{D}{Q^*}                     (12-2)

Expected time between orders = T = \frac{Number  of  working  days  per  year}{N}                        (12-3)

Step-by-Step

Verified Solution

SOLUTION \blacktriangleright
N = \frac{Demand}{Order  quantity} = \frac{1,000}{200} = 5 orders per year

T = \frac{Number  of  working  days  per  year}{Expected  number  of  orders} = \frac{250  working  days  per  year}{5  orders} = 50 days between orders

INSIGHT \blacktriangleright The company now knows not only how many needles to order per order but that the time between orders is 50 days and that there are five orders per year.

LEARNING EXERCISE \blacktriangleright If D = 1,200 units instead of 1,000, find N and T.
[Answer: N ≅ 5.48, T = 45.62.]

RELATED PROBLEMS \blacktriangleright 12.14, 12.15, 12.17 (12.35c,d are available in MyOMLab)