Define the annual savings in the economic order quantity

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Question: A part is produced in batches of size = 3000 pieces. Annual demand = 60,000 pieces, and piece cost = $5.00. Setup time to run a batch = 3.0 hr, cost of downtime on the affected equipment is figured at $200/hr, and annual holding cost rate = 30%. What would the annual savings be if the part were produced in the economic order quantity?

Reference no: EM131454057

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