Question: production and operations management Inventory Control Techniques 7. Economic Order Quantity Problem 7 TFG company uses 25,000 nos. of a component per year. It costs

production and operations management production and operations management Inventory Control Techniques 7. Economic Order Quantity Problem

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 Unt Price 500- 1000 20.95 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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