Question: This question asks students to apply the Economic Order Quantity (EOQ) model to determine the optimal order size that minimizes total inventory costs. Given the
This question asks students to apply the Economic Order Quantity (EOQ) model to determine the optimal order size that minimizes total inventory costs. Given the annual demand, ordering cost, and holding cost, students will calculate EOQ and then determine the associated ordering, holding, and total costs. This question emphasizes the importance of cost-based inventory management and the economic trade-offs between order frequency and inventory storage. It builds foundational skills in quantitative modeling for inventory decisions and prepares students to evaluate cost-effective replenishment strategies in a variety of operational environments, such as retail distribution, warehousing, or manufacturing. ( NOTE : DO NOT UPLOAD IMAGE OF 5TH QUESTION MUST DRAW THE FLOWCHART)
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