Management; ICON Motors

ICON Motors has the following demand to meet for custom manufactured parts.

The holding cost for that item is $1 per week and each setup costs $500.

Lead time is 2 weeks.

Calculate the planned order releases using: (a) Lot for Lot (b) EOQ, and (c) the POQ techniques.

(A) Lot for Lot technique

WEEK

1

2

3

4

5

6

7

8

Gross requirements

0

200

250

0

300

100

200

0

Projected on hand

300

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Net requirements

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Planned order receipts =

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Planned order releases

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Set Up cost

ANSWER

Holding Cost

ANSWER

Total CosT

ANSWER

(B) EOQ technique

EOQ

ANSWER

WEEK

1

2

3

4

5

6

7

8

Gross requirements

0

200

250

0

300

100

200

Projected on hand

300

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Net requirements

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Planned order receipts

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Planned order releases

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Set Up cost

ANSWER

Holding Cost

ANSWER

Total

ANSWER

(C) POQ technique

POQ Interval =

ANSWER

Month

1

2

3

4

5

6

7

8

Gross requirements

0

200

250

0

300

100

200

Projected on hand

300

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Net Requirement

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Planned Receipt

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Planned Order

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

ANSWER

Set Up cost

ANSWER

Holding Cost

ANSWER

Total

ANSWER

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