Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Product Annual Demand Case Study
The purpose of this exercise is to discuss the situation facing the manager and help her determine an inventory ordering policy from the information given.
Keith Mason owns three bars in Oceanside CA located on the boardwalk. In September 2019, Keith hired Susan Warton as the Business Manager to take care of accounting and inventory. Her salary is $40,000 which works out to about $20 per hour.
After her first six months at work, Keith is dissatisfied with her performance. Susan seems to be spending so much time taking care of the inventory that the books are always late. Although Susan has been using standard ordering policies (set in 2011), she claims that very often she finds herself dealing with rush orders to avoid stock outs. In most cases, rush orders mean compromising on quality and settling for lesser-known brands. This results in a number of dissatisfied customers, and it also meant that Keith still had to take care of many accounting tasks. He had felt that with Susan taking care of running the bars, he would have more time for his family and fishing. Before making a decision on whether to retain Susan, Keith thought he should get another opinion on the inventory problem.
Megan Mason (Keith’s niece) has just finished a course in Operations Management. Keith offered to sponsor Megan’s summer vacation in Oceanside if she would help to study the ordering policies for the bars. Realizing that the inventory policies should be based on demand, Megan first studied the weekly demand for 2018-2019 and forecasted the annual demand for the major items based on 52 weeks per year. Three of these are listed on the next page.
Discussions with Susan revealed that orders were placed for each item when it reached its reorder point. She used the order and reorder points estimated by the previous stock manager. Susan estimated that orders must be placed three weeks in advance in order to purchase and receive the correct brand. She spends about 30 minutes checking stock each time an order is placed. A study of the inventory records indicates that about 3% of the material are discarded due to spillage and broken bottles. Keith Mason pays 9% interest on the debts for his business.
Product |
Annual Demand (Bottles) |
Unit Cost ($) |
Current Order Quantity |
Current Reorder Point |
Vodka |
1630 |
3.20 |
200 |
40 |
Scotch |
980 |
8.62 |
100 |
40 |
Rum |
325 |
5.05 |
50 |
20 |
- What is the cost of placing an order?
- What is the holding cost for each type of liquor?
- What is the optimal ordering policy (i.e., order quantity and reorder point) for each product? Assume a safety stock of 6 bottles for each item.
- What information should Megan provide Keith to convince him that the above policy is an improvement on the current policy used? Explain why the new reorder point is better and show a comparison of the costs for the current and new order quantities for vodka, scotch, and rum.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
|
|
GET THIS PROJECT NOW BY CLICKING ON THIS LINK TO PLACE THE ORDER
Also, you can place the order at www.collegepaper.us/orders/ordernow / www.phdwriters.us/orders/ordernow
|
Do You Have Any Other Essay/Assignment/Class Project/Homework Related to this? Click Here Now [CLICK ME]and Have It Done by Our PhD Qualified Writers!! |
|
|
PLACE THE ORDER WITH US TODAY AND GET A PERFECT SCORE!!!