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What is the optimal economic order quantity

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Reference no: EM133185513

Question - A restaurant orders ribeye steaks for its inventory. Last year, ribeye steaks are delivered once a week, with an EOQ of 5,200. This year, the storage cost of ribeye steaks in inventory goes down by 4.6% due to increased energy consumption for refrigeration. What is the optimal economic order quantity for replenishing the inventory of ribeye steaks this year? Assume that the fixed ordering cost and demand rate for ribeye steaks stay the same throughout the two years, and there are 52 weeks in a year.

Reference no: EM133185513

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