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Find out the Economic Order Quantity

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Question - A factory uses two pieces of a rod 6 mm diameter and 150 mm length in one of their manufacturing processes. Annual demand of a rod 6 mm diameter and 150 mm length are 50,000 mm and 500,000 respectively. The rod cost Rs. 3 per mm and the total expenses involved in purchasing and receiving them are Rs. 50 per order. The annual inventory carrying cost per item is Re. 1. The procurement period is 3 days and minimum stock kept is 8 pieces. Find out the Economic Order Quantity?

Reference no: EM133069343

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