Description of this paper

Given the following information, formulate an inventory

Description

solution


Question

Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year.;Item cost $10.00;Order cost $250.00;Annual holding cost (%) 33% of item cost;Annual demand 25,750;Average demand 515 per week;Standard deviation of weekly demand 25 per week;Lead time 1 week;Service probability 95%;a. State the order quantity and reorder point.;b. Determine the annual holding and order costs.

 

Paper#33537 | Written in 18-Jul-2015

Price : $34
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