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

Impact of activity of listening, How is the activity of listening impacted ...

How is the activity of listening impacted by the particular situation?

An organisation has decided to outsource its is function, An organisation h...

An organisation has decided to outsource its IS function. Explain the main issues it needs to address. Having decided to outsource its IS function, there are a number of issue

Explain fairly complex for job shops, Why is scheduling fairly simple for r...

Why is scheduling fairly simple for repetitive systems but fairly complex for job shops?

Question, What do you understand by “line balancing”? What happens if balan...

What do you understand by “line balancing”? What happens if balance doesn’t exist?

Explain the way of clear communication, On a recent trip to India, Mr. Yang...

On a recent trip to India, Mr. Yang, a prominent Chinese executive, dined with his client Himanshu Jain. Mr. Yang commented that the food was spicy, which Mr. Jain interpreted as a

Operation planning and scheduling system, Operation Planning and Scheduling...

Operation Planning and Scheduling System Operation planning g and scheduling system concern the volume and timing of the outputs utilizations of the operations capacity and the

Explain introduction to optimum design, Why are there no solutions for Intr...

Why are there no solutions for Introduction to Optimum Design textbooks?

Heterogeneity and intangibility of service products, Heterogeneity and Inta...

Heterogeneity and Intangibility of Service Products Heterogeneity  Service may be variable, difficult to standardise.  Intangibility of service products  Not ea

What are policy and operative decisions, What are policy and operative deci...

What are policy and operative decisions? Policy decisions are very significant, they are taken by top management, and they have a long-term impact and mostly relate to fundamen

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