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MC Cooper hired a consultant to establish an optimal safety stock quantity for his company. Before the consultant could start with his work, he talked to the company accountant to gather relevant financial information. The following pieces of information were given:
Supplier's net invoice price P4,000
Carrying costs rate 10%
Number of orders per year 24
Stock-out costs per occurrence P8,600
Probability of stock-outs P8,600
REQUIRED:
Problem 1: Determine the optimal safety stock quantity.
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