Dec 28, 2021 Uncategorized

Operation management Assignment at an Affordable Cost


Quantitative Part [50 marks] makes cool headphones and is based in the beautiful Greek island of Ikaria.Due to the recent pandemic, YOLO is concerned about how any additional supply chaindisruptions   might   affect   the   availability   of   a   magnet   which   is   essential   for   theirheadphones. It is the start of February and YOLO must commit to a magnet quantity fordelivery in July.  Each magnet ordered in February will cost YOLO €40/unit.  YOLOestimates that demand for magnets in July at a price of €70/unit will be normallydistributed with a mean of 250,000 and a standard deviation of 200,000.  If YOLO’sdemand in July exceeds its regular order (the amount ordered in February) then YOLOcan obtain additional units on the spot market.  The spot market price for these magnetsin July is estimated to be €50/unit.  Magnets not used in July will certainly be used inAugust.  However, magnets ordered in March for August delivery are expected to cost€36/unit.  Furthermore, due to physical storage costs and opportunity costs of capital

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