User Account

All Pages

Inventory Control Model, Operation Research

Assignment Help:
1. A local university purchases exercise books to give to their students. Instead of a fixed unit cost, their supplier quotes the following discount pricing:

Order quantity Unit Price
0 – 5000 £3.00
5001 – 10000 £2.96
10001 and over £2.92

An annual holding cost is estimated to be 20% of the purchase price. The university incurs a fixed order placement, transportation and receiving cost of £100 each time an order is placed, regardless of the order quantity. Annual demand for exercise books is 10000.
The discount for the 10001-unit minimum order quantity looks tempting. However, realising that higher order quantities result in higher inventory holding cost, the university should prepare a through cost analysis before making a final ordering recommendation.
Determine the quantity of exercise books the university should order each time it makes an order in such a way as to minimise the total cost incurred.

Related Discussions:- Inventory Control Model

Applicattion of operation reserach, applications of operation research

applications of operation research

Game theory-, use of game theory by state bank of india

use of game theory by state bank of india

Decision tree approach, Question: Spencerville Products is expanding ...

Question: Spencerville Products is expanding its operations west of the Mississippi.  Its first step is to build a manufacturing facility in Denver to satisfy demand on the W

Discuss the basic components of any queueing system, Question: (a) Disc...

Question: (a) Discuss briefly the four basic components of any queueing system. (b) Explain what you understand by the following models: (i) (M| M | 1 : N | FCFS) (ii

Non-governmental organisation, Name the feature which is not normally assoc...

Name the feature which is not normally associated with a Non-Governmental Organisation (NGO)?  Government funded is the organisation.

Yates correction for continuity for 2x 2tables , Yates Correction for Cont...

Yates Correction for Continuity for  2x 2Tables If any cell frequency in  2x 2 table isles  than 5thenfor the application of X 2 test it  is pooled with the preceding or suc

Operations research as a decision-making sci, Short Define operations resea...

Short Define operations research as a decision-making science

Operation, #question.A paper mill produces two grades of paper viz., X and ...

#question.A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grad

Mip, procedure of mip

procedure of mip

Simple method, Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 =...

Maximize Z= 3x1 + 2X2 Subject to the constraints: X1+ X2 = 4 X1 - X2 = 2 X 1, X2 = 0

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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