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

Mathematical analysis of the normal distribution curve, Mathematical Analys...

Mathematical Analysis of the Normal Distribution Curve Mathematical analysis of the normal distribution curve has produced data tables which provide population statistics in r

Explain medical software for patient in-take, In this assignment, you will ...

In this assignment, you will create a quote for a customized desktop computer for a small hospital. Your quote will include technical specifications and an itemized price breakdown

Airbus, 1)?An analysis of type of operations carried out and operating proc...

1)?An analysis of type of operations carried out and operating processes (i.e., project, batch, mass, professional service, service shop,?mass service, etc.) 2)?An identification

Explain economic order quantity and total cost, Explain Economic Order Quan...

Explain Economic Order Quantity and Total Cost. Economic Order Quantity and Total Cost: The total sum of Inventory procurement cost and inventory carrying cost is total cost.

Explain risks identified in the project charter, Risks identified in the pr...

Risks identified in the project charter include events that if they occur will have either a positive or a negative effect on a project's objectives.

Explain contemporary strategy analysis, Ford's (Case 4) challenge in meetin...

Ford's (Case 4) challenge in meeting the needs of shareholders versus stakeholders. What ethical challenges and dilemmas might this pose? How should a corporate strategy be adju

Meaning and definition of production management, Meaning and Definition of ...

Meaning and Definition of Production Management Production management is a stream of management that is associated to the production function. Production might be termed to as th

Explain your concerns based on the results, 1. Jack, the owner and manager ...

1. Jack, the owner and manager of Jack's Box Company, wants to monitor usage at Work Center 3, which is a bottleneck in the system. He has collected data on the planned and actual

Production volume of bushings as well bearings are the same, 1. A powder me...

1. A powder metal (PM) manufacturing line produces bushing in three steps, compaction, sinter-harden, and rough/O?nish turn, which are accomplished at three single machine stations

Costco, What do its Operations managers do at Costco?

What do its Operations managers do at Costco?

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