SIM$301$ Introduction tcoperations Management $(3)$

Dominic Deluca $*04/29/246$:$18$ PM

Question $3,$ Problem $12\mathrm{.}14$

HW Score: $68\mathrm{.}75\%,5\mathrm{.}5$ of $8$ points

Part $2$ of $6$

Points: $0$ of $1.$

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Management o

Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation. Thomas's fastest$-$moving inventory item has a demand of $6,100$ units per year. The cost of each unit is $$101,$ and the inventory carrying cost is $$9$ per unit per year. The average ordering cost is $$29$ per order. It takes about $5$ days for an order to arrive, and the demand for $1$ week is $122$ units. $($This is a corporate operation, and there are $250$ working days per year$).$

a$)$ What is the EOQ? $198\mathrm{.}27$ units $($round your response to two decimal places$).$

b$)$ What is the average inventory if the EOQ is used? $$ units $($round your response to two decimal places$).$

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