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Find the number of orders to be placed a year

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Reference no: EM133026725

Question - Wira Maju Limited has been buying a certain material item in order sizes 2,400 units. The total annual requirement of the item is 4,800 units. Material cost per unit is RM10; cost of ordering is RM8 per order and storage cost works out to be 20% of the average stock value.

You are required to find:

(a) Find the economic order quantity,

(b) Find the number of orders to be placed a year, and

c) Find the cost savings per year.

Reference no: EM133026725

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