数据、模型与决策(运筹学)课后习题和案例答案.docVIP

CD Chapter 18inventory management with known demand Review Questions 18.1-1 Administrative costs, such as labor charges to place an order, can cause the cost to exceed the purchase price. 18.1-2 Capital tied up in inventory will not be regained until the goods are sold. If the capital were free to be invested it would be able to earn a return from other opportunities. This cost is called an opportunity cost because it reflects the lost return because alternate opportunities must be foregone to carry inventory. 18.1-3 Other costs associated with holding inventory include the cost of leasing warehouse space, the cost of insurance for inventory, labor costs for warehouse personnel, and taxes based on the value of the inventory. 18.1-4 Customer dissatisfaction and the loss of future sales, price decreases to compensate for delays, delayed revenue, and increased record keeping are all cost consequences for inventory shortages. 18.2-1 The four cost components that may be included in an inventory model are acquisition cost, setup cost, holding cost, and shortage cost. 18.2-2 Retailers and wholesalers replenish their inventory and incur a direct cost by purchasing products. Manufacturers replenish their inventory and incur a direct cost by manufacturing more of the product involved. 18.2-3 When the replenishment is done by purchasing the product, the setup cost consists of the various administrative costs. When a manufacturer is replenishing its inventory, the setup cost consists of the cost of setting up the manufacturing process for another production run. 18.2-4 An inventory policy prescribes both when inventory should be replenished and by how much. 18.2-5 The total inventory cost per unit time needs to be minimized to determine an optimal inventory policy. 18.2-6 A fixed cost is a cost that remains the same regardless of the decisions made while a variable cost is a cost that is affected by the decisions made. The variable costs are the only relevant costs since