Question: For the following data, calculate economic order quantity (EOQ), safety stock (SS), and re-order point (RP). Item cost AED 15000 Weekly Holding cost 0.5% of

  • For the following data, calculate economic order quantity (EOQ), safety stock (SS), and re-order point (RP).

Item cost

AED 15000

Weekly Holding cost

0.5% of item cost

Weekly Demand

700 units

Ordering cost

AED 10,000 per order

Standard deviation of weekly demand

50 units

Delivery lead time

2 weeks

Z-score for 99% service level

2.32

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