Formulas for Exam 2

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Formulas for Exam 2
Inventory management







where:

Q* = optimal order quantity
D = annual demand
S = ordering cost per order
H = annual holding (or carrying) cost per unit

Revenue management:

where:
Q* = the optimal number of full-price units
D = the expected demand for full price units
C
o
= cost per unit of overestimating D (discount price)
C
u
= cost per unit of underestimating D (full - discount price)

Flexible Flow Layout

where d
ij
= distance between departments i and j
w
ij
= importance

Capacity Planning
# resources required =
processing time required to meet demand for time period t
-----------------------------------------------------------------------------
processing time available per resource per time period t
(Time units should be consistent)
capacity utilization =
Actual units processed per time period
--------------------------------------------------------------------
Maximum possible units processed per time perio

o u
u
C C
C
Q D P

  ) (
*

 
n
i
n
j
ij ij
d w Minimize
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