How many products should be ordered

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Reference no: EM133412132

Question: Costco has received the following demands for a product this year: Month 1 2 3 4 5 6 7 8 9 10 11 12 Demand 300 700 800 900 3300 200 600 900 200 300 1000 800 Suppose ordering cost (OC) is $504 and holding cost (HC) of one unit of product in a year is $3. There is no shortage cost. Backordering is not allowed in this model. Use 'Part Period Balancing' heuristic method, develop a schedule to show when and how many products should be ordered, and compute the total cost.

Reference no: EM133412132

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