Question: please show all calculations 2. Lean manufacturing techniques include the desire for very small production lot sizes. Consider the following situation: the demand for an

please show all calculations please show all calculations 2. Lean

2. Lean manufacturing techniques include the desire for very small production lot sizes. Consider the following situation: the demand for an item produced by your factory is 500 units per year. The holding cost is $1500 per unit per year. The setup cost (also referred to as ordering cost) is currently $50 per order. What does set up cost need to be in order for the economic order quantity to equal one unit? Setup (or Ordering) cost that will achieve a lot size of 1

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