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GATE 2019: Industrial Engineering Quiz 3 (App update required to attempt this test)
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Question 1
If demand of a certain item doubles, then the change in Economic Order Quantity is given as (EOQ)new = n(EOQ)old .The value of n is ____.
Question 2
A company uses 4555 units for an item annually. Delivery lead time is 18 days. The reorder point (in number of units) to achieve optimum inventory is
Question 3
The cost parameters and other factor for a production inventory system of automobile factory are
Demand / year = 6000 units
Unit cost = Rs. 40/-
Setup cost (order cost) = Rs. 500/ set up
Production rate/ year = 36000 units
Holding cost/unit/year = Rs. 8/-
Shortage cost/unit/year = Rs. 20/-
The optimal lot size would be _____ units.
Demand / year = 6000 units
Unit cost = Rs. 40/-
Setup cost (order cost) = Rs. 500/ set up
Production rate/ year = 36000 units
Holding cost/unit/year = Rs. 8/-
Shortage cost/unit/year = Rs. 20/-
The optimal lot size would be _____ units.
Question 4
Consider the following data with reference to elementary deterministic economic order quantity model
The total number of economic orders per year to meet the annual demand is
The total number of economic orders per year to meet the annual demand is
Question 5
Consider the following data for a product
Demand= 1000 units/ year
Order = Rs. 40/ order
Holding cost = 10% of the unit cost/ unit year
Unit cost = Rs. 500
With a policy of ordering every month, the total annual cost would be _____.
Demand= 1000 units/ year
Order = Rs. 40/ order
Holding cost = 10% of the unit cost/ unit year
Unit cost = Rs. 500
With a policy of ordering every month, the total annual cost would be _____.
Question 6
A company has an annual demand of 500 units, ordering cost of Rs. 100/ order and carrying cost of Rs. 100/unit-year. If the stock-out costs are estimated to be nearly Rs. 200 each time the company runs out-of-stock, then safety stock justified by the carrying cost will be ___________.
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