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Question
A chemical plant produces sodium bisulfate in 130 kg bags. Demand for this product is 26 tonnes per day. The capacity for producing this product is 60 tonnes per day. Setup cost is $400, and holding cost is $190 per tonne per year. The company operates 260 days a year. (Note: 1 tonne = 1,000 kg).
1. What is the optimal number of bags per production run?
Optimal number of bags
2. What would the average inventory level be for this lot size?
Average inventory bags
3. Determine the approximate length of a production run, in days.
Run length days
4. About how many production runs per year would there be?
Runs per year
5. How much could the company save annually in inventory control cost if the setup cost could be reduced to $200 per production run and the optimal production quantity is recalculated and used?
Annual Savings $
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