Business, 04.05.2021 17:50 montanolumpuy

Michigan State Figurine Inc. (MSF) sells crystal figurines to Spartan fans. MSF buys the figurines from a manufacturer for $31 per unit. They send orders electronically to the manufacturer, costing $56 per order and they experience an average lead time of six days for each order to arrive from the manufacturer. Their inventory carrying cost is 20 percent. The average daily demand for the figurines is two units per day. They are open for business 250 days a year. The supplier decides to offer a volume discount. They will sell the crystal figurines at $7 per unit for orders of 250 units or more. Reqiured:
a. How many units should the firm order each time?
b. How many orders will they place in a year?
c. What is the average inventory?

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Michigan State Figurine Inc. (MSF) sells crystal figurines to Spartan fans. MSF buys the figurines f...

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