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{"id":6193,"date":"2022-03-20T13:46:49","date_gmt":"2022-03-20T08:01:49","guid":{"rendered":"https:\/\/eponlinestudy.com\/?p=6193"},"modified":"2022-03-20T13:46:49","modified_gmt":"2022-03-20T08:01:49","slug":"inventory-management-stock-level-tu-solution-reorder-level-minimum-stock-level-maximum-stock-level-danger-level","status":"publish","type":"post","link":"https:\/\/eponlinestudy.com\/inventory-management-stock-level-tu-solution-reorder-level-minimum-stock-level-maximum-stock-level-danger-level\/","title":{"rendered":"Inventory Management | Stock Level | TU Solution | Reorder Level"},"content":{"rendered":"

\"\"<\/p>\n

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Inventory Level | Stock Level<\/span><\/b><\/h2>\n

The term inventory represents the stock of consumable items like raw material, work in progress, finished goods, supplied etc held by the firm waiting either for sale or production or its utilization to achieve their respective goals. <\/span><\/p>\n

Such as inventory purchasing economically, using appropriately and preserving carefully are the main objectives of inventory management. <\/span><\/p>\n

In other words, optimum investment in inventory is the inventory management.<\/span><\/p>\n

\u00a0<\/span><\/p>\n

To avoid over and under stocking, the stock keeper or inventory management must fix the inventory level. <\/span><\/p>\n

Inventory level also known as demand and supply methods of stocking. <\/span><\/p>\n

For the inventory control, the following levels of material are fixed:<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Reorder level<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Minimum stock level (safety level)<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Maximum stock level <\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Average stock level<\/span><\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/span>Danger level<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Click on the photo for FREE <\/span><\/b>e<\/span><\/b>Books<\/span><\/b><\/p>\n

\"\"<\/a><\/p>\n

\u00a0<\/span><\/span><\/p>\n

\u00a0<\/span><\/span><\/p>\n

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Keep in Mind (KIM) <\/span><\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
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Some important synonyms or abbreviations<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

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ROP<\/span><\/b><\/p>\n<\/td>\n

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= re-order period<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

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ROL<\/span><\/p>\n<\/td>\n

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= re-order level<\/span><\/p>\n<\/td>\n<\/tr>\n

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Re-order period<\/span><\/p>\n<\/td>\n

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= lead time or procurement time<\/span><\/p>\n<\/td>\n<\/tr>\n

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Minimum stock<\/span><\/p>\n<\/td>\n

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= safety stock<\/span><\/p>\n<\/td>\n<\/tr>\n

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Uses<\/span><\/p>\n<\/td>\n

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= consumption<\/span><\/p>\n<\/td>\n<\/tr>\n

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Inventory<\/span><\/p>\n<\/td>\n

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= stock<\/span><\/p>\n<\/td>\n<\/tr>\n

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Average<\/span><\/p>\n<\/td>\n

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= normal or nominal<\/span><\/p>\n<\/td>\n<\/tr>\n

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Minimum level<\/span><\/p>\n<\/td>\n

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= minimum stock level<\/span><\/p>\n<\/td>\n<\/tr>\n

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Maximum level<\/span><\/p>\n<\/td>\n

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= maximum stock level<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Formulas of stock level <\/span><\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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Re-order level (ROL)<\/span><\/p>\n<\/td>\n

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= Maximum consumption \u00d7<\/span> Maximum re-order period<\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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= Minimum stock level +<\/span> Lead time consumption<\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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= Safety stock +<\/span> (Lead or procurement time \u00d7 Daily consumption)<\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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= Normal consumption \u00d7<\/span> Normal lead time<\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

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Minimum stock level<\/span><\/p>\n<\/td>\n

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= ROL \u2013<\/span> (Average consumption \u00d7 Average ROP)<\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

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Maximum stock level<\/span><\/p>\n<\/td>\n

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= ROL +<\/span> ROQ \u2013<\/span> (Minimum consumption \u00d7 Minimum ROP)<\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

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Average Stock Level (ASL)<\/span><\/p>\n<\/td>\n

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= (Maximum stock level + Minimum stock level) \u00f7<\/span> 2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (for working note)<\/i>\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n<\/td>\n<\/tr>\n

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[EOQ = ROQ ]<\/span><\/p>\n<\/td>\n

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= Minimum stock level +<\/span>\u00a0 (ROQ \u00f7 2)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (for value find)<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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= Minimum stock level +<\/span>\u00a0 (EOQ \u00f7 2)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (for value find)<\/i><\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

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Danger Level<\/span><\/p>\n<\/td>\n

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= Average consumption \u00d7<\/span> Maximum ROP<\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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= Normal consumption \u00d7<\/span> Maximum emergency period<\/span><\/p>\n<\/td>\n<\/tr>\n

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\u00a0<\/span><\/p>\n<\/td>\n

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\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

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Reorder quantity (ROQ)<\/span><\/p>\n<\/td>\n

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= Maximum stock level +<\/span> (Minimum consumption \u00d7 Minimum ROP) \u2013<\/span> ROL<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/b><\/p>\n

Stock Level TU Solution<\/span><\/b><\/h3>\n

Brief Answer Questions <\/span><\/b><\/h3>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2073, Q: 6<\/span><\/b><\/p>\n

Following extracted information are given below: <\/span><\/p>\n

Reorder period \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4 to 6 days<\/span><\/p>\n

Consumption per day \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 400 to 600 units<\/span><\/p>\n

Reorder point \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,600 units<\/span><\/p>\n

Reorder quantity \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,000 units<\/span><\/p>\n

Required: Maximum stock level<\/span><\/p>\n

[Answer: MSL = 6,000 units]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Maximum stock level<\/span><\/b><\/p>\n

= ROL +<\/span> ROQ \u2013<\/span> (Minimum consumption \u00d7 Minimum ROP)<\/span><\/p>\n

= 3,600 +<\/span> 4,000 \u2013<\/span> (400 units \u00d7 4 days)<\/span><\/p>\n

= 3,600 +<\/span> 4,000 \u2013<\/span> 1,600<\/span><\/p>\n

= 6,000 units <\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2074, Q: 6<\/span><\/b><\/p>\n

Following extracted information are given below: <\/span><\/p>\n

Normal lead time \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9 days<\/span><\/p>\n

Normal consumption \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 15 units per day<\/span><\/p>\n

Minimum reorder period for emergency purchase 3 days<\/span><\/p>\n

Required: Danger level <\/span><\/p>\n

[Answer: DL = 45 days]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Danger level<\/span><\/b><\/p>\n

= Normal consumption \u00d7<\/span> Maximum ROP<\/span><\/p>\n

= 15 units \u00d7<\/span> 3 days <\/span><\/p>\n

= 45 days <\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2075, Q: 9<\/span><\/b><\/p>\n

Following extracted information are given below: <\/span><\/p>\n

Consumption per day \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 400 to 600 units<\/span><\/p>\n

Delivery period\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3 to 5 days <\/span><\/p>\n

Reorder level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,500 units<\/span><\/p>\n

Required: Minimum stock level<\/span><\/p>\n

[Answer: MSL = 2,500 units]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Given and working note: <\/span><\/i><\/p>\n

Normal consumption = (400 + 600) \u00f7 2 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 500 units<\/span><\/i><\/p>\n

Normal delivery time = (3 + 5) \u00f7 2 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 4 days<\/span><\/i><\/p>\n

\u00a0<\/span><\/p>\n

Minimum stock level<\/span><\/b><\/p>\n

= Reorder level \u2013<\/span> (Normal consumption \u00d7 Normal ROP)<\/span><\/p>\n

= 4,500 units \u2013<\/span> (500 units \u00d7 4 days)<\/span><\/p>\n

= 4,500 \u2013<\/span> 2,000 <\/span><\/p>\n

= 2,500 units <\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2076, Q: 6<\/span><\/b><\/p>\n

Following extracted information are given below: <\/span><\/p>\n

Reorder level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,800 units<\/span><\/p>\n

Reorder period\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4 to 6 days <\/span><\/p>\n

Reorder quantity \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,000 units <\/span><\/p>\n

Consumption per day \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 200 to 300 units<\/span><\/p>\n

Required: Maximum stock level<\/span><\/p>\n

[Answer: \u00a0MSL = 5,000 units]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Maximum stock level<\/span><\/b><\/p>\n

= ROL +<\/span> ROQ \u2013<\/span> (Minimum consumption \u00d7 Minimum ROP)<\/span><\/p>\n

= 1,800 +<\/span> 4,000 \u2013<\/span> (200 units \u00d7 4 days)<\/span><\/p>\n

= 1,800 +<\/span> 4,000 \u2013<\/span> 800<\/span><\/p>\n

= 5,000 units <\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2077, Q: 9<\/span><\/b><\/p>\n

Following extracted information are given below: <\/span><\/p>\n

Consumption per day \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 30,000 to 50,000 units<\/span><\/p>\n

Reorder period\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3 to 5 days <\/span><\/p>\n

Maximum stock level\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 300,000 units<\/span><\/p>\n

Required: Reorder quantity <\/span><\/p>\n

[Answer: ROQ = 140,000 units]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Given and working note: <\/span><\/i><\/p>\n

ROL = Max consumption \u00d7 Max ROP = 50,000 units \u00d7 5 days = 250,000 units <\/span><\/i><\/p>\n

\u00a0<\/span><\/p>\n

Reorder quantity <\/span><\/b><\/p>\n

= Maximum stock level +<\/span> (Minimum consumption \u00d7 Minimum ROP) \u2013<\/span> ROL<\/span><\/p>\n

= 300,000 units +<\/span> (30,000 units \u00d7 3 days) \u2013<\/span> 250,000 <\/span><\/p>\n

= 300,000 +<\/span> 90,000 \u2013<\/span> 250,000 <\/span><\/p>\n

= 140,000 units <\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

######<\/span><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
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Click on the link for <\/span>YouTube<\/span><\/b> videos<\/span><\/p>\n<\/td>\n<\/tr>\n

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Accounting Equation<\/span><\/p>\n<\/td>\n

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http:\/\/tiny.cc\/c89jkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

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Journal Entries in Nepali<\/span><\/p>\n<\/td>\n

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http:\/\/tiny.cc\/uaakkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

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Journal Entries<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/8aakkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Journal Entry and Ledger<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/caakkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Ledger<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/haakkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Subsidiary Book<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/399jkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Cashbook<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/889jkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Trial Balance and Adjusted Trial Balance<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/c59jkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Bank Reconciliation Statement (BRS)<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/q59jkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Depreciation<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/ugakkz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Click on the link for <\/span>YouTube<\/span><\/b> videos chapter wise\u00a0 <\/span><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Financial Accounting and Analysis (All videos)<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/jlersz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Accounting Process<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/mlersz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Accounting for Long Lived Assets<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/plersz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Analysis of Financial Statement<\/span><\/p>\n<\/td>\n

\n

http:\/\/tiny.cc\/slersz<\/span><\/a><\/span><\/strong><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

######<\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Short Answer Questions <\/span><\/b><\/h3>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2054, Q: 3<\/span><\/b><\/p>\n

The following details have been provided by A Manufacturing Company:<\/span><\/p>\n

(i) Weekly demand of raw materials 900 units for 6 working days.<\/span><\/p>\n

(ii) Delivery of raw material requires 2 to 4 days.<\/span><\/p>\n

(iii) Deviation of plus and minus 60 units during weekly consumption.<\/span><\/p>\n

(iv) Reorder quantity is 500 units<\/span><\/p>\n

Required:\u00a0 (1) Reorder level; (2) Maximum inventory level<\/span><\/p>\n

[Answer: (1) ROL = 640 units; (2) Max stock level = 860 units]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Given and working note:\u00a0 <\/span><\/i><\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n

Weekly demand<\/span><\/i><\/p>\n<\/td>\n

\n

= 900 \u00b1 60 units <\/span><\/i><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Normal working days in a week<\/span><\/i><\/p>\n<\/td>\n

\n

= 6 days<\/span><\/i><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Maximum weekly demand of raw materials<\/span><\/i><\/p>\n<\/td>\n

\n

= 900 + 60<\/span><\/i><\/p>\n<\/td>\n

\n

= 960 units\u00a0 <\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Maximum daily consumption<\/span><\/i><\/p>\n<\/td>\n

\n

= 960 \u00f7 6 days<\/span><\/i><\/p>\n<\/td>\n

\n

= 160 units <\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Minimum weekly demand of raw materials<\/span><\/i><\/p>\n<\/td>\n

\n

= 900 \u2013 60<\/span><\/i><\/p>\n<\/td>\n

\n

= 840 units <\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Minimum daily consumption<\/span><\/i><\/p>\n<\/td>\n

\n

= 840 \u00f7 6 days<\/span><\/i><\/p>\n<\/td>\n

\n

= 140 units <\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Minimum delivery time [ROP]<\/span><\/i><\/p>\n<\/td>\n

\n

= 2 days<\/span><\/i><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Maximum delivery time [ROP}<\/span><\/i><\/p>\n<\/td>\n

\n

= 4 days<\/span><\/i><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Re-order quantity [EOQ]<\/span><\/i><\/p>\n<\/td>\n

\n

= 500 units <\/span><\/i><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/i><\/p>\n

(a) Re-order level <\/span><\/b><\/p>\n

= Maximum Demand \u00d7<\/span> Maximum Delivery Time <\/span><\/p>\n

= 160 units \u00d7<\/span> 4 days<\/span><\/p>\n

= 640 units <\/span><\/p>\n

\u00a0<\/span><\/p>\n

(b) Maximum stock level <\/span><\/b><\/p>\n

= ROL +<\/span> ROQ \u2013<\/span> [Min Demand \u00d7 Min Delivery Time]<\/span><\/p>\n

= 640 units +<\/span> 500 units \u2013<\/span> [140 units \u00d7 2 days]<\/span><\/p>\n

= 1,140 \u2013<\/span> 280<\/span><\/p>\n

= 860 units <\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2055, Q: 3<\/span><\/b><\/p>\n

The following extracted information is available in respect of materials:<\/span><\/p>\n

Reorder level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,800 units <\/span><\/p>\n

Reorder period \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4 to 6 days<\/span><\/p>\n

Reorder quantity \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,000 units <\/span><\/p>\n

Normal consumption \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 250 units <\/span><\/p>\n

Required: (a) Maximum consumption; (b) Minimum consumption; (c) Maximum level<\/span><\/p>\n

[Answer: (a) 300 units; (b) 200 units; (c) 5,000 units]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Given and working note: <\/span><\/i><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

ROL = 1,800 units <\/span><\/i><\/p>\n<\/td>\n

\n

ROQ = 4,000 units<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Min ROP = 4 days<\/span><\/i><\/p>\n<\/td>\n

\n

Normal or average consumption = 250 units<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

Max ROP = 6 days<\/span><\/i><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(a) Maximum consumption<\/span><\/b><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Reorder level<\/span><\/p>\n<\/td>\n

\n

= Maximum consumption \u00d7<\/span> Maximum ROP<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

1,800 units<\/span><\/p>\n<\/td>\n

\n

= <\/span>Maximum consumption \u00d7<\/span> 6 days<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Maximum consumption<\/span><\/p>\n<\/td>\n

\n

= 1,600 units \u00f7<\/span> 6 days <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n

\n

= 300 units<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(b) Minimum consumption <\/span><\/b><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Average consumption<\/span><\/p>\n<\/td>\n

\n

= (Min consumption + Max consumption) \u00f7<\/span> 2<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

250 units<\/span><\/p>\n<\/td>\n

\n

= (Min consumption + 300 units<\/span>) \u00f7 2<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

250 \u00d7 2<\/span><\/span><\/p>\n<\/td>\n

\n

= Min consumption + 300 units<\/span><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

500 \u2013 300<\/span><\/span><\/p>\n<\/td>\n

\n

= Min consumption<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Min consumption<\/span><\/p>\n<\/td>\n

\n

= 200 units <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(c) Maximum stock level<\/span><\/b><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

= ROL +<\/span> ROQ \u2013<\/span> (Min consumption \u00d7 Min ROP)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

= 1,800 +<\/span> 4,000 \u2013<\/span> (200 units \u00d7 4 days)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

= 5,800 \u2013<\/span> 800 <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

= 5,000 units <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

<\/p>\n

\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n

<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2056, Q: 3<\/span><\/b><\/p>\n

The following extracted information was provided to you:<\/span><\/p>\n

Yearly demand for the materials \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 10,000 units<\/span><\/p>\n

Procurement cost per procurement \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs 50<\/span><\/p>\n

Cost per unit of materials \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Rs 2<\/span><\/p>\n

Carrying cost per unit per year \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Re 0.16<\/span><\/p>\n

Required: (a) EOQ units; (b) Daily consumption; (c) Optimum number of order; <\/span><\/p>\n

(d) If yearly operating days are 250 days; procurement time is 10 days and safety stock is 300 units, find out reordering level<\/span><\/p>\n

[Answer: (a) EOQ = 2,500 units; (b) Daily consumption = 40 units;<\/span><\/i><\/p>\n

(c) EOQ order = 4 times; (d) ROL = 700 units]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Given and working note: <\/span><\/i><\/p>\n\n\n\n\n\n\n
\n

A= 10,000<\/span><\/i><\/p>\n<\/td>\n

\n

Yearly operating days = 250<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

O = Rs 50<\/span><\/i><\/p>\n<\/td>\n

\n

Procurement time = 10 days <\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

P = Rs 2<\/span><\/i><\/p>\n<\/td>\n

\n

Safety stock = 300 units<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n

\n

C = Re 0.16<\/span><\/i><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/i><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/i><\/p>\n

(a) EOQ in units<\/span><\/b><\/b><\/p>\n

Here, SQRT means square root<\/span><\/i><\/p>\n

= SQRT 2AO \u00f7<\/span> C\u00a0 <\/span><\/p>\n

= SQRT 2 \u00d7 10,000 \u00d7 Rs 50 \u00f7<\/span> Re 0.16<\/span><\/p>\n

= SQRT 62,50,000\u00a0 <\/span><\/p>\n

= 2,500 units<\/span><\/p>\n

\u00a0<\/span><\/p>\n

(b) Daily consumption <\/span><\/b><\/p>\n

= Yearly demand \u00f7 Days in year <\/span><\/p>\n

= 10,000 units \u00f7 250 days<\/span><\/p>\n

= 40 units<\/span><\/p>\n

\u00a0<\/span><\/p>\n

(c) Optimum number of order<\/span><\/b><\/p>\n

= A \u00f7<\/span> EOQ units <\/span><\/p>\n

= 10,000 units \u00f7<\/span> 2,500 units <\/span><\/p>\n

= 4 times <\/span><\/p>\n

\u00a0<\/span><\/p>\n

(d) Reorder level<\/span><\/b><\/p>\n

= Safety stock +<\/span> (Procurement time \u00d7 Daily consumption)<\/span><\/p>\n

= 300 units +<\/span> (10 days \u00d7 40 units)<\/span><\/p>\n

= 300 units +<\/span> 400 units<\/span><\/p>\n

= 700 units <\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2057, Q: 3<\/span><\/b><\/p>\n

The following information was extracted from the store ledger of A Factory:<\/span><\/p>\n

Reorder level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3,000 units<\/span><\/p>\n

Minimum stock level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,500 units<\/span><\/p>\n

Average stock level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 4,000 units<\/span><\/p>\n

Minimum consumption during minimum reorder level period is 700 units<\/span><\/p>\n

Required: (a) Reorder quantity; (b) Maximum stock level<\/span><\/p>\n

[Answer: (a) ROQ = 5,000 units; (b) MSL = 7,300 units]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Given and working note: <\/span><\/i><\/p>\n

ROL = 3,000 units<\/span><\/i><\/p>\n

MSL = 1,500 units<\/span><\/i><\/p>\n

ASL = 4,000 units<\/span><\/i><\/p>\n

\u00a0<\/span><\/b><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

(a) Reorder quantity<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Average stock level <\/span><\/p>\n<\/td>\n

\n

= Minimum stock level +<\/span> (ROQ \u00f7 2)<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

4,000 units<\/span><\/p>\n<\/td>\n

\n

= 1,500 + <\/span>ROQ \u00f7 2<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

4,000 \u2013 1,500<\/span><\/p>\n<\/td>\n

\n

= ROQ \u00f7 2<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

2,500<\/span><\/p>\n<\/td>\n

\n

= ROQ \u00f7 2<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

ROQ <\/span><\/p>\n<\/td>\n

\n

= 2,500 \u00d7 2<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n

\n

= 5,000 units<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

(b) Maximum stock level<\/span><\/b><\/p>\n<\/td>\n<\/tr>\n

\n

= ROL +<\/span> ROQ \u2013<\/span> (Minimum consumption during Minimum reorder level)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n

\n

= 3,000 +<\/span> 5,000 \u2013<\/span> 700 <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

= 7,300 units <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2063, Q: 5 Or<\/span><\/b><\/p>\n

The normal consumption of material of an industry for 250 working days is 150,000 kg and minimum consumption per day is 400 kg<\/span><\/p>\n

The purchase period normally ranges from 6 days to 10 days<\/span><\/p>\n

The level of safety stock is 2,000 kg and maximum stock level is 10,000 kg<\/span><\/p>\n

Required:\u00a0 (1) Re-order level; (2) EOQ in kg; (3) Minimum stock level; (4) Average stock level\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/p>\n

[Answer: ROL = 8,000 kg; EOQ = 4,400 kg; MSL = 3,200 kg; ASL = 5,400 kg]<\/span><\/i><\/p>\n

Or<\/span><\/i><\/b>\u00a0\u00a0\u00a0\u00a0\u00a0 ROL = 6,800 kg; EOQ = 5,600 kg; MSL = 2,000 kg; ASL = 4,800 kg]<\/span><\/i><\/p>\n

*ASL = SS + (EOQ <\/span><\/i>\u00f7<\/span><\/i>2)<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Given and working note:\u00a0 <\/span><\/i><\/p>\n

Annual consumption \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 150,000 kg <\/span><\/i><\/p>\n

Working days in year\u00a0\u00a0\u00a0\u00a0\u00a0 = 250 days<\/span><\/i><\/p>\n

Normal\/average consumption per day = 150,000 \u00f7 250 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 600 kg <\/span><\/i><\/p>\n

Minimum consumption\u00a0\u00a0 = 400 kg per day<\/span><\/i><\/p>\n

Minimum period [ROP]\u00a0\u00a0 = 6 days<\/span><\/i><\/p>\n

Maximum period [ROP]\u00a0 = 10 days<\/span><\/i><\/p>\n

Average period [ROP] \u00a0\u00a0\u00a0\u00a0 = [6+10] \u00f7 2 = 8 days<\/span><\/i><\/p>\n

Safety stock level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 2,000 kg<\/span><\/i><\/p>\n

Maximum stock level \u00a0\u00a0\u00a0\u00a0\u00a0 = 10,000 kg <\/span><\/i><\/p>\n

\u00a0<\/span><\/b><\/p>\n

Reorder level (ROL)<\/span><\/b><\/p>\n

ROL\u00a0 = Maximum consumption \u00d7 Maximum ROP]<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 800 kg \u00d7 10 days<\/span><\/p>\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 8,000 kg <\/span><\/p>\n

\u00a0<\/span><\/b><\/p>\n

Or <\/span><\/b><\/p>\n

= Safety stock + [Average consumption \u00d7 Average ROP]<\/span><\/p>\n

= 2,000 kg\u00a0\u00a0\u00a0 + [600 kg \u00d7 8 days]<\/span><\/p>\n

= 2,000 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 + 4,800<\/span><\/p>\n

= 6,800 kg<\/span><\/p>\n

\u00a0<\/span><\/b><\/p>\n

EOQ [ROQ] in units<\/span><\/b><\/p>\n\n\n\n\n\n\n
\n

MSLMAX<\/sub><\/span><\/p>\n<\/td>\n

\n

= ROL + ROQ \u2013 [Minimum consumption \u00d7 Minimum ROP] <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

10,000<\/span><\/p>\n<\/td>\n

\n

= 8,000 + ROQ \u2013 [400 kg \u00d7 6 days]<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

10,000<\/span><\/p>\n<\/td>\n

\n

= 8,000 + ROQ \u2013 2,400 kg <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

ROQ<\/span><\/p>\n<\/td>\n

\n

= 4,400 kg<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/b><\/p>\n

Or <\/span><\/b><\/p>\n\n\n\n\n\n\n
\n

MSLMAX<\/sub><\/span><\/p>\n<\/td>\n

\n

= ROL + ROQ \u2013 [Minimum consumption \u00d7 Minimum ROP] <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

10,000<\/span><\/p>\n<\/td>\n

\n

= 6,800 + ROQ \u2013 [400 kg \u00d7 6 days]<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

10,000<\/span><\/p>\n<\/td>\n

\n

= 6,800 + ROQ \u2013 2,400 kg <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

ROQ<\/span><\/p>\n<\/td>\n

\n

= 5,600 kg<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/b><\/p>\n

Minimum stock level<\/span><\/b><\/p>\n

= ROL \u2212 (Average consumption \u00d7 Average ROP)<\/span><\/p>\n

= 8,000 \u2212 (600 \u00d7 8)<\/span><\/p>\n

= 8,000 \u2013 4,800<\/span><\/p>\n

= 3,200 kg<\/span><\/p>\n

\u00a0<\/span><\/b><\/p>\n

Or <\/span><\/b><\/p>\n

= ROL \u2212<\/span> (Average consumption \u00d7 Average ROP)<\/span><\/p>\n

= 6,800 \u2212<\/span> (600 \u00d7 8)<\/span><\/p>\n

= 6,800 \u2013<\/span> 4,800<\/span><\/p>\n

= 2,000 kg<\/span><\/p>\n

\u00a0<\/span><\/b><\/p>\n

Average stock level <\/span><\/b><\/p>\n

= Minimum stock level +<\/span> (EOQ \u00f7 2)\u00a0 <\/b><\/span><\/p>\n

= 3,200 kg +<\/span> (4,400 \u00f7 2) <\/i><\/span><\/p>\n

= 3,200 + <\/span>2,200<\/span><\/p>\n

= 5,400 kg <\/b><\/span><\/p>\n

\u00a0<\/span><\/b><\/p>\n

Or <\/span><\/b><\/p>\n

= Safety Stock +<\/span> (<\/b>EOQ \u00f7 2)\u00a0 <\/b><\/span><\/p>\n

= 2,000 kg +<\/span> (5,600 \u00f7 2) <\/i><\/span><\/p>\n

= 2,000 +<\/span> 2,800<\/span><\/p>\n

= 4,800 kg <\/b><\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2065, Q: 5 Or<\/span><\/b><\/p>\n

The following information is provided:<\/span><\/p>\n

Reorder level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 80,000 units <\/span><\/p>\n

Reorder period \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8 \u2013 10 days<\/span><\/p>\n

Minimum consumption per day \u00a0\u00a0\u00a0\u00a0\u00a0 4,000 units <\/span><\/p>\n

Required: (a) Maximum consumption per day; (b) Average consumption; (c) Minimum stock level<\/span><\/p>\n

\u00a0[Answer: (1) 8,000 units; (2) 6,000 units; (3) 26,000 units]<\/span><\/i><\/p>\n

Given and working note: <\/span><\/i><\/p>\n

Reorder level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 80,000<\/span><\/i><\/p>\n

Minimum ROP \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 8 days<\/span><\/i><\/p>\n

Maximum ROP \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 10 days<\/span><\/i><\/p>\n

Average ROP \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = (8 + 10) \u00f7 2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 = 9 days<\/span><\/i><\/p>\n

Minimum consumption \u00a0\u00a0 = 4,000 units per day<\/span><\/i><\/p>\n

\u00a0<\/span><\/p>\n

Maximum consumption<\/span><\/b><\/p>\n\n\n\n\n\n\n
\n

Reorder level<\/span><\/p>\n<\/td>\n

\n

= Maximum consumption \u00d7 Maximum ROP <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 80,000<\/span><\/p>\n<\/td>\n

\n

= Maximum consumption \u00d7 10 days<\/span><\/p>\n<\/td>\n<\/tr>\n

\n

Maximum consumption<\/span><\/p>\n<\/td>\n

\n

= 80,000 \u00f7 10 <\/span><\/p>\n<\/td>\n<\/tr>\n

\n

\u00a0<\/span><\/p>\n<\/td>\n

\n

= 8,000 units <\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/span><\/p>\n

Average consumption<\/i><\/span><\/b><\/p>\n

= (Minimum consumption + Maximum consumption) \u00f7<\/span> 2 <\/span><\/p>\n

= (8,000 + 4,000) \u00f7<\/span> 2<\/span><\/p>\n

= 6,000 units<\/span><\/p>\n

\u00a0<\/span><\/b><\/p>\n

\u00a0<\/span><\/b><\/p>\n

Minimum stock level<\/span><\/b><\/p>\n

= ROL \u2013<\/span> (Average consumption \u00d7 Average ROP)<\/span><\/p>\n

= 80,000 \u2013<\/span> (6,000 \u00d7 9 days)<\/span><\/p>\n

= 80,000 \u2013<\/span> 54,000<\/span><\/p>\n

= 26,000 units <\/span><\/p>\n

\u00a0<\/span><\/b><\/p>\n

\u00a0<\/span><\/b><\/p>\n

Here, Amount = Rs = $ = \u00a3 = \u20ac = <\/span>\u20b9<\/span> = Af = <\/span>\u09f3 <\/span>= Nu = Rf = <\/span>\u0dbb\u0dd4<\/span> = Br = P = Birr = Currency of your country<\/span>\u00a0 <\/span><\/p>\n

2071, Q: 5 Or<\/span><\/b><\/p>\n

The following extracted information is available:<\/span><\/p>\n

Maximum stock level \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 8,000 units <\/span><\/p>\n

Consumption per month \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,000 to 1,200 units<\/span><\/p>\n

Estimated delivery period \u00a0\u00a0\u00a0\u00a0\u00a0 2 to 4 months<\/span><\/p>\n

Required: (a) Reorder level; (b) Reorder quantity <\/span><\/p>\n

[Answer: (a) ROL = 4,800 units; (b) ROQ = 5,200 units]<\/span><\/i><\/p>\n

SOLUTION: <\/span><\/b><\/p>\n

Given and working note: <\/span><\/i><\/p>\n

MSL = 8,000 units<\/span><\/i><\/p>\n

Min consumption = 1,000 units<\/span><\/i><\/p>\n

Max consumption = 1,200 units<\/span><\/i><\/p>\n

Average consumption = (1,000 + 1,200) \u00f7 2 = 1,100 units<\/span><\/i><\/p>\n

Min ROP = 2 months<\/span><\/i><\/p>\n

Max ROP = 4 month<\/span><\/i><\/p>\n

Average ROP = (2+4) \u00f7 2 = 3 months<\/span><\/i><\/p>\n

\u00a0<\/span><\/p>\n

(a) Reorder level (ROL)<\/span><\/b><\/p>\n

= Maximum consumption \u00d7<\/span> Maximum ROP<\/span><\/p>\n

= 1,200 units \u00d7<\/span> 4 months <\/span><\/p>\n

= 4,800 units <\/span><\/span><\/p>\n

\u00a0<\/span><\/p>\n

\u00a0<\/span><\/p>\n

(b) Reorder quantity<\/span><\/b><\/b><\/p>\n

= Maximum stock level +<\/span> (Minimum consumption \u00d7 Minimum ROP) \u2013<\/span> ROL<\/span><\/p>\n

= 8,000 +<\/span> (1,000 \u00d7 2) \u2013<\/span> 4,800<\/span><\/span><\/p>\n

= 8,000 +<\/span> 2,000 \u2013<\/span> 4,800<\/span><\/span><\/p>\n

= 5,200 units <\/span><\/p>\n

\u00a0<\/span><\/p>\n

EP <\/span>Online <\/span>Study <\/span><\/p>\n

Thank you for investing your time.<\/span><\/i><\/p>\n

Please comment on the article <\/span><\/i>and<\/span><\/i> share this post on your social media platform.<\/span><\/i><\/p>\n

\u00a0<\/span><\/p>\n

Jay G<\/span>o<\/span>o<\/span>g<\/span>l<\/span>e<\/span>, Jay YouTube<\/span>, Jay Social Media<\/span><\/span><\/p>\n

\u091c\u092f<\/span> \u0917\u0942<\/span>\u0917<\/span>\u0932<\/span>.<\/span> \u091c\u092f<\/span> \u092f\u0941\u091f\u094d\u092f\u0941\u092c<\/span>,<\/span> \u091c\u092f<\/span> \u0938\u094b\u0936\u0932<\/span> \u092e\u0940\u0921\u093f\u092f\u093e <\/span><\/p>\n

\u00a0<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 \u00a0 Inventory Level | Stock Level The term inventory represents the stock of consumable items like raw material, work in progress, finished goods, supplied etc held by the firm waiting either for sale or production or its utilization to achieve their respective goals. Such as inventory purchasing economically, using appropriately and preserving carefully are […]<\/p>\n","protected":false},"author":19997,"featured_media":6194,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3221,3236,11],"tags":[2112,2141,2142,2139,2138,2137,3237,3238],"writers":[144],"yoast_head":"\nInventory Management | Stock Level | TU Solution | Reorder Level<\/title>\n<meta name=\"description\" content=\"Inventory Management | Stock Level | TU Solution | Reorder Level | Minimum stock level | Maximum stock level | Danger Level\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/eponlinestudy.com\/inventory-management-stock-level-tu-solution-reorder-level-minimum-stock-level-maximum-stock-level-danger-level\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta 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