Question: Derive the formula for calculation of EOQ.An inventory model has the following characteristics : Annual demand = 1 0 0 0 units, ordering cost =

Derive the formula for calculation of EOQ.An inventory model has the following characteristics :
Annual demand =1000 units, ordering cost = Rs.10, holding cost per unit per year = Rs.50. Assuming that there are 275 working days in year,
Find EOQ for this inventory model.
How many orders should be placed in a year ?
What is the expected time between two consecutive orders ?What is the total annual cost of this inventory model ?

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