Optimal order quantity and minimum total inventory cost

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Reference no: EM133642190

Question

Kroft foods makes cheese to supply to stores in its area. The dairy can make 350 pounds of cheese per day, and the demand of area stores is 205 pounds per day. Each time the dairy makes cheese it costs $175 to set up the production process. The annual cost of carrying a pound of cheese in a refrigerated storage area is $12. Determine the optimal order quantity and the minimum total inventory cost.

Reference no: EM133642190

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