Annual demand for a madetostock product is 60,000 units. Each unit costs $8.00 and the annual holding
Question:
(a) Economic order quantity and
(b) Total inventory costs. Economic Order Quantity
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs. This production-scheduling model was developed in 1913 by Ford W. Harris and has...
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Related Book For 
Automation Production Systems and Computer Integrated Manufacturing
ISBN: 978-0132393218
3rd edition
Authors: Mikell P.Groover
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