Calculate the optimum order quantity, Operation Management

Assignment Help:

1. The annual demand for a product is 8,000 units. The order cost is $30 for a single order. The cost of the item is $10 and the holding cost has been calculated at $3 to carry one item in stock for one year. 

Calculate: 

(a) The optimum order quantity 

(b) The number of orders to be placed annually and 

(c) The overall costs.


Related Discussions:- Calculate the optimum order quantity

Explain develop an emergency evacuation plan, Develop an Emergency Evacuati...

Develop an Emergency Evacuation Plan Explain what disaster(s) you might experience and what plans you would put in place to protect yourself, your possessions, and your loved on

Explain what is the market share, What is the market share, sales levels an...

What is the market share, sales levels and profit for the last 5 years for Subway Restaurant and Chick-Fil-A restaurant?

Explain how training and education of work forces are differ, Explain how t...

Explain how the training and education of work force differ from that of the middle level managers. The training and education of work force differ from that of the middle le

Compute the lcl and ucl for these data, A state department of tourism and r...

A state department of tourism and recreation collects data on the number of cars with out-of-state license plates in a state park. (The group's position is that more out-of-state p

Line balancing, what do you understand by line balancing what happens if ba...

what do you understand by line balancing what happens if balance doesn''t exist

Describe integrated systems management, Read the Location Selection through...

Read the Location Selection through Integrated Systems Management article. Define Integrated Systems Management in your own words and discuss the application of the 3 stages of fac

Business management, Six Operators are to be assigned to five jobs with the...

Six Operators are to be assigned to five jobs with the cost of assignment in Rs. given 10 marks in the matrix below. Determine the optimal assignment. Which operator will have no a

Find range of annual volume, A firm plans to begin production of a new smal...

A firm plans to begin production of a new small appliance. The manager must decide whether to purchase the motors for the appliance from a vendor at $7 each or to produce them in-h

Explain the market equilibrium conditions in this market, John Barks owns B...

John Barks owns Barks Computer Screens Inc. and wants to identify the supply and demand for screens in his market. The company can produce large screens called Wides or small scree

Explain how much safety inventory does the store carry, Demand during lead-...

Demand during lead-time for HP printers at a Sam's club store is normally distributed, with a mean of 500 and a standard deviation of 150. The store manager continuously monitors i

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd