Answered: VENDOR 1 VENDOR 2 QUANTITY PRICE/LB…

VENDOR 1 VENDOR 2 QUANTITY PRICE/LB QUANTITY PRICE/LB 1-499 $17.00 1-399 $17.10 500-999 16.75 400-799 16.85 1,000+ 16.50 800-1,199 16.60 1,200+ 16.25

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Chapter2: The Purchasing Process

Section: Chapter Questions

Problem 1GPE

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Question

Emery Pharmaceutical uses an unstable chemical
compound that must be kept in an environment where both temperature
and humidity can be controlled. Emery uses 800 pounds
per month of the chemical, estimates the holding cost to be 50%
of the purchase price (because of spoilage), and estimates order
costs to be $50 per order. The cost schedules of two suppliers are
as follows: a) What is the economic order quantity for each supplier?
b) What quantity should be ordered, and which supplier should be used?
c) What is the total cost for the most economic order size?
d) What factor(s) should be considered besides total cost?

VENDOR 1
VENDOR 2
QUANTITY
PRICE/LB
QUANTITY
PRICE/LB
1-499
$17.00
1-399
$17.10
500-999
16.75
400-799
16.85
1,000+
16.50
800-1,199
16.60
1,200+
16.25

Processes involved in arranging, controlling, and optimizing the workloads and work activities in a manufacturing or production setup to minimize cost and increase the efficiency of staff and equipment.

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