AM15 SPR21 Operations Management
运营管理代写 Martin, the owner of a breakfast restaurant, needs to plan every morning how many muffins to buy to satisfy the daily demand.
Problem Set 2 运营管理代写
(15% of Final Grade)
Q1. Martin, the owner of a breakfast restaurant, needs to plan every morning how many muffins to buy to satisfy the daily demand. Since he wants to keep an image of selling fresh food only, he tosses out all the muffins he couldn’t sell by the end of the day. He buys them from a bakery at $1.00per muffin and sells them at a price of $2.00. The bakery makes the muffins at a variable cost of$0.40 per muffin. Martin observed the following daily demands over the last month. (No need to calculate all the probabilities below to answer questions.)
| Number of
Muffins Sold that Day |
Frequency |
Probability |
Cumulative Probability |
| 0 | 5 | ||
| 1 | 3 | ||
| 2 | 6 | 运营管理代写 | |
| 3 | 8 | ||
| 4 | 4 | ||
| 5 | |||
| 6 | 1 | ||
| 7 | 2 |
a.(2%) How many muffins should Martin order for the day eachmorning?
b.(3%)How many muffins should be ordered by Martin so that the combined profit of the supply chain is maximized (baker and restaurant together)? Explain why this quantity is different from your answer to Q1a. 运营管理代写
c.(2%)The bakery considers offering to buy back any unsold muffins from the restaurant at the end of the day. What buy-back price should the bakery offer to induce the restaurant to buy the quantity that maximizes the combined profit of the bakery and the restaurant?
Q2. 运营管理代写
In Oct 2018, the Winterfell city council met to decide how much road salt the city would purchase for the coming winter 2018-2019. Each year, the state of the North solicits a statewide bid for bulk ice control salt allowing those who participate to receive advantageous pricing. This year, the low bidder for “early fill” salt, purchased before the winter season in October, is $31.50 per ton. The low bidder for seasonable back-up salt is $36.30, which can be purchased during the winter season. Based on the salt usage in the past few years and snow forecast for the coming winter, the city council estimated that the amount of road salt needed for this winter follows a normal distribution with mean 7300 tons and standard deviation 600 tons.
- (2%) How many tons of “early fill” salt should the city council purchase to minimizecosts?
- (1%)The city finds that they can sell the leftover salt at the end of the winter season to other northern cities at $18.50 per ton. How many tons of “early fill” salt should the city council purchase given they can sell the leftover salt?
Q3. 运营管理代写
The Home & Garden (HG) chain of superstores imports decorative planters from Italy. Weekly demand for planters averages 2000 with a standard deviation of 800. Each planter costs $15. HG incurs a holding cost of 30% per year to carry inventory. HG has an opportunity to set up a superstore in the Phoenix region. Each order shipped from Italy incurs a fixed transportation and delivery cost of $8000. Delivery lead time from Italy is 4 weeks (no variability) and HG would like to provide its customers a cycle service level of 99%. Consider 52 weeks in the year. 运营管理代写
- (3%) Determine the optimal inventory policy for planters that HG should use.
- (2%) What is the total annual inventory holding cost under the optimal inventorypolicy?
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