Calculate the optimum order quantity, Operation Management

Assignment Help:

1. The annual demand for a product is 8,000 units. The order cost is $30 for a single order. The cost of the item is $10 and the holding cost has been calculated at $3 to carry one item in stock for one year. 

Calculate: 

(a) The optimum order quantity 

(b) The number of orders to be placed annually and 

(c) The overall costs.


Related Discussions:- Calculate the optimum order quantity

Explain the management-research question hierarchy, Build the management-re...

Build the management-research question hierarchy for penton media

Describe the problem with labour productivity, Two types of cars (Deluxe an...

Two types of cars (Deluxe and Limited) were produced by a car manufacturer in 1997. Quantities sold, price per unit, and labour hours follow. What is the productivity for each car?

Explain worldwide the sale of alcoholic beverages is legal, Which of the fo...

Which of the following statements is true? Answer law applies to individuals only; not to groups or society as a whole the sale of marijuana is illegal worldwide the sale of alcoho

Explain what do your contingency plan, What do your contingency plan in cas...

What do your contingency plan in case your plan of action doesn't work?

Assess the vital of completing post-project reviews, Assess the importance ...

Assess the importance of completing post-project reviews, and determine what project documentation must be updated as the result of the review meeting. Discuss the risks associated

Explain path for data between two points on a network, Name 3 factors that ...

Name 3 factors that a router must consider when determining the best path for data between two points on a network?

Explain correct name for the flower the michaelmass daisy, What is the corr...

What is the correct name for the flower the Michaelmass Daisy?

Line balancing, Line Balancing Line balancing is arranging a production ...

Line Balancing Line balancing is arranging a production line so that there is an even flow of production from one work station to the next i, e, so that there are no delays at a

Explain inventory procurement and carrying cost, Explain Inventory Procurem...

Explain Inventory Procurement Cost and Inventory Carrying Cost. Inventory Procurement Cost and Inventory Carrying Cost: Inventory is a detailed list of such movable items which

Make to order - types of operation system, Make to order - Operations Syste...

Make to order - Operations Systems In this case, manufacture of the product does not commence until an order has been placed by the customer. In the best restaurants food is

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd