Question: Inventory Control Techniques 7. Economic Order Quantity Problem 7 TFG company uses 25,000 nos. of a component per year. It costs RO 100 to place

Inventory Control Techniques 7. Economic Order

Inventory Control Techniques 7. Economic Order Quantity Problem 7 TFG company uses 25,000 nos. of a component per year. It costs RO 100 to place and receive an order and carrying cost is 30% of unit price. The supplier quotes the following prices for the component. Quantity Unit Price 0 - 499 500 - 999 1000 + Rs. 21.60 Rs. 20.95 Rs. 20.90 (a) What is the EOQ? (b) What is the minimum total cost? (c) How much time will elapse between orders

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