Solution-Using the eoq model, how many should ray order

Using the eoq model, how many should ray order

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Reference no: EM1359913

1. Ray's Satellite Emporium wishes to determine the best order size for its best-selling satellite dish. Ray has estimated the annual demand for this model at 1,000 units. His cost to carry one unit is $100 per year per unit, and he has estimated that each order costs $25 to place. Using the EOQ model, how many should Ray order? Please provide the formula, at least one step of calculation, and the correct order size.

2. Given the following information, formulate a continuous-review inventory management system. The item is demanded 50 weeks a year.

Item cost	$10	Standard deviation of weekly demand
Order cost	$250	Standard deviation of weekly demand	25 per week
Annual holding cost (%)	33% of item cost	Lead time	1 week
Annual demand	25,750	Service probability	95%
Average demand	515 per week

Compute the order quantity and reorder point.

Reference no: EM1359913

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Using the eoq model, how many should ray order

Reference no: EM1359913

Reference no: EM1359913

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