How often should your boss reorder the item

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Reference no: EM133337671

Case: Your boss stocks an item which on average is required every 3 days.

The cost of the item is $500 and the ordering cost is $50. Storage of the items costs about $200 per year each.

Question 1: How often should your boss reorder the item?

Question 2: If the storage cost is reduced in half, how much will we save per year?

Reference no: EM133337671

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