Inventory control problem

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Reference no: EM1311278

Solve different inventory control problems using an appropriate OR method.

Assume that an order quantity used is (m . q*) instead of economic order quantity q*. How many times will the incurred cost be increased (i.e., what is the ratio between the cost incurred by ordering (m . q*) items and the cost incurred by ordering q* items)? Take into consideration the holding cost and the ordering cost only.

Reference no: EM1311278

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