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In a JIT system, demand for a particular product is 2000 units. The safe stock is 15% of authorised inventory. The product spends 0.06 day in handling and 0.04 in processing. How many containers are to be authorised if 1 can contains 10 parts.
- a)77
- b)23
- c)30
- d)200
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
In a JIT system, demand for a particular product is 2000 units. The s...
Demand during lead time = 2000 × (0.06 + 0.04) = 200
View all questions of this test
Safety stock = 0.15 × 200 = 30
No. of containers = (200+30)/10 = 23
Most Upvoted Answer
In a JIT system, demand for a particular product is 2000 units. The s...
To determine the number of containers to be authorized in a JIT (Just-In-Time) system, we need to consider the demand for the product, the safe stock, and the number of parts in each container.
Given:
Demand for the product = 2000 units
Safe stock = 15% of authorized inventory
Time spent in handling = 0.06 day
Time spent in processing = 0.04 day
Number of parts in each container = 10
Let's calculate the authorized inventory and the number of containers required.
1. Authorized Inventory:
The authorized inventory is the sum of the demand and the safe stock.
Safe stock = 15% of authorized inventory
Authorized inventory = Demand + Safe stock
= 2000 + (0.15 * 2000)
= 2000 + 300
= 2300 units
2. Time spent in processing:
The time spent in processing is the sum of the time spent in handling and the time spent in processing.
Total time spent = Time spent in handling + Time spent in processing
= 0.06 + 0.04
= 0.10 day
3. Number of parts in each container:
Each container contains 10 parts.
4. Number of containers required:
To calculate the number of containers required, we need to divide the authorized inventory by the number of parts in each container.
Number of containers required = Authorized inventory / Number of parts in each container
= 2300 / 10
= 230 containers
Since the question asks for the number of containers to be authorized, we need to round up the number of containers required to the nearest whole number.
Rounding up 230 to the nearest whole number gives us 23 containers.
Therefore, the correct answer is option 'B', 23 containers.
Given:
Demand for the product = 2000 units
Safe stock = 15% of authorized inventory
Time spent in handling = 0.06 day
Time spent in processing = 0.04 day
Number of parts in each container = 10
Let's calculate the authorized inventory and the number of containers required.
1. Authorized Inventory:
The authorized inventory is the sum of the demand and the safe stock.
Safe stock = 15% of authorized inventory
Authorized inventory = Demand + Safe stock
= 2000 + (0.15 * 2000)
= 2000 + 300
= 2300 units
2. Time spent in processing:
The time spent in processing is the sum of the time spent in handling and the time spent in processing.
Total time spent = Time spent in handling + Time spent in processing
= 0.06 + 0.04
= 0.10 day
3. Number of parts in each container:
Each container contains 10 parts.
4. Number of containers required:
To calculate the number of containers required, we need to divide the authorized inventory by the number of parts in each container.
Number of containers required = Authorized inventory / Number of parts in each container
= 2300 / 10
= 230 containers
Since the question asks for the number of containers to be authorized, we need to round up the number of containers required to the nearest whole number.
Rounding up 230 to the nearest whole number gives us 23 containers.
Therefore, the correct answer is option 'B', 23 containers.
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