Question: for the following data, calculate economic order quantity (EOQ) and re-order point (RP). as 50 weeks in a year. Item cost: AED 12000 Order cost:

for the following data, calculate economic order quantity (EOQ) and re-order point (RP). as 50 weeks in a year.
Item cost: AED 12000
Order cost: AED 300000/ order
Annual holding cost: 25% of item cost
Annual demand: 35,000 units
Average weekly demand : 700 units/ week
Standard deviation of weekly demand: 50 units
Lead time: 1 week
Z-score for service level of 95%:1.65

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