Determine number of units to order in the next week based on the following: holding cost 0.04
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Question:
Determine number of units to order in the next week based on the following: | |
holding cost | 0.04 |
ordering cost | 6.3 |
initial mean demand | 20 |
last weeks demand | 21 |
Week | 1 |
inventory level beginning of week | 25 |
inventory level after unloading | 25 |
customer demand | 21 |
inventory level end of week | 4 |
quantity ordered | |
order costs ($) | 0 |
holding costs ($) | 0.16 |
total costs incl. stockout penalty | 0.16 |
total cumulative cost ($) | 0.16 |
Related Book For
Quantitative Methods for Business
ISBN: 978-0324651751
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey cam
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