Calculate the total inventory cost

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Reference no: EM133615547

Question

1. A company orders 800 units of a product at a time. The annual demand is 12,000 units, ordering cost is $50 per order, and holding cost is $5 per unit per year. Calculate the total inventory cost.

2. A company orders 800 units of a product at a time. The annual demand is 12,000 units, ordering cost is $50 per order, and holding cost is $5 per unit per year. If the company operates 300 days a year what is the average time between two orders in number of days?

3. For a specific item, the annual demand and ordering costs remain same from year 2023 to year 2024, but the holding cost increases by 20%. By what percentage approximately will the EOQ change?

Reference no: EM133615547

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