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Determine how many orders should be placed each year

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Point 1: A oompany sells 60000 litres of a commodity per year. Cost of the commodity is $10 per litre. Inventory carrying costs are 15% of the commodity cost. The cost of ordering is $72 per order. Order lead time ayerages five days and average daily demand is 200 litres per business day. Management wants a safety stock of ten days.

Required:

Question 1: Calculate the E.O.Q, for the commodity.

Question 2: Determine how many orders should be placed each year.

Question 3: Find the re-order point.

Reference no: EM132476742

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