The economic run size and the maximum inventory

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Reference no: EM131133823

A grocery shop that makes candles offers a scented candle, which can be produced at a rate of 36 boxes per day and used 12 boxes per day. Assume that demand is uniform throughout the year and the shop opens for 360 days. Setup cost is $80 for a run, and holding cost is $2 per box on a yearly basis. Please compute the following tasks using EPQ model: (a) The economic run size (b) The maximum inventory (c) The total cost

Reference no: EM131133823

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