Question: 1. When do you use EPQ model? 2. Explain the three different types cost of EOQ model with the diagram. When carrying cost is equal

1. When do you use EPQ model? 2. Explain the three

1. When do you use EPQ model? 2. Explain the three different types cost of EOQ model with the diagram. When carrying cost is equal to ordering cost? 3. Develop the inventory profile of EOQ model for 12 days where lead time 3 days, usage rate 80 units/day and EOQ is 400 units. What is ROP and inventory at day 12? 4. Draw the EPQ diagram with run time is 5 days and cycle time is 8 days. Find the maximum inventory if the production rate is 80 units and usage rate is 50 units. 5. How much you can save if you use EOQ instead of any other quantity? Explain it with the diagram. Assume all the necessary values

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