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Formulate an inventory management systems

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Reference no: EM132723882

Given the following information, formulate an inventory management systems. the item is demanded 50 weeks a year

  • item cost $10.00
  • order cost $250.00
  • annual holding cost(%) 33% of item cost
  • annual demend 25,750
  • average demand 515 per week
  1. State the order quantity.
  2. Determine the annual holding and order costs
  3. If a price break of $50 per order was offered for purchase quantities of over 2,000 would you take advantage of it? how much would you save annually?

Reference no: EM132723882

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