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What is the company total inventory cost for the year

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Reference no: EM132966194

Question - Manfred manufacturing is involved in the production of machine parts. The company uses 600,000 pounds of steel annually, the current purchasing cost of steel is $ 3.2 per pound , the carrying cost of inventory is 10 % of the purchase price , the cost of ordering steel is $ 800 per order the company has decided to maintain a safety stock of 15,000 pounds , the delivery time per order 6 days the company work 365 days per year

1- Determine the optimal EOQ?

2- How many orders will be placed annually?

3- What is the average inventory?

4- What is the company total inventory cost for the year?

Reference no: EM132966194

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