Question: Industrial Engineering Production & Inventor Control Course: INEN 5350 Question 1:What are some problems with the EOQ and estimating holding cost? Question 2: The setup

Industrial Engineering

Production & Inventor Control Course: INEN 5350

Question 1:What are some problems with the EOQ and estimating holding cost? Question

2: The setup cost is $50.The holding cost is $10 per year.The demand is 500 per year.What is the optimal EOQ?How many times per year do you order?

Question 3: The production rate is 2000 units per year.The demand is 200 units.The setup cost is $4000.The holding cost is $50.What is the production EOQ.How many times per year does one produce the item at the optimal production EOQ? Question

4: You get a discount on items when you order 500. The price of the item is $10 if you order less than 100 and $9 if you order 100 or more. The holding cost of the item is $2 per year. The setup cost is $20.The demand for the item is 2000 per year. Compute the optimal EOQ.

Question 5: Give some reasons why JIT/Lean think is the same as and different than the EOQ model.

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