Question: Need well defined and detailed solution to all parts Problem IC7** Given the following data, find out the Economic Production lot size and Total Annual

Need well defined and detailed solution to all parts

Problem IC7** Given the following data, find out the Economic Production lot size and Total Annual Stocking Cost. Annual Demand =10,000 units, Set up cost = Rs 50 /order Carrying cost 1 Unityear = Rs 3 Working days in a year =250 Daily production rate =60 units If annual requirement has increased to 15,000 units, how will it affect Economic Production Lot Size

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