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

Characteristics of batch production, Characteristics of Batch Production ...

Characteristics of Batch Production Short Runs: Batch production is characterized by short production runs and frequent changes in set ups. Investment : Needs high in

Explain hides the information from the other side, Research suggests that a...

Research suggests that a party with an attractive BATNA will likely receive a more positive outcome if it hides the information from the other side.

Measures to prevent accidents, Measures  to prevent Accidents 1. Prope...

Measures  to prevent Accidents 1. Proper Selection  of Workers: A scientific selection  of workers  is more  important from safety  point  of view.  The attitude  and  aptitu

Define what benefits can older employees lend to emerging, Generationally-s...

Generationally-speaking", our business environment is more diverse than ever before with both young and older working side-by-side. Each age group espouses characteristics that len

Explain intent or motive behind sexual harassment activities, Should be int...

Should be intent or motive behind Lewiston's conduct be considered when deciding sexual harassment activities? Explain

Describe questionable behaviour, Please answer a detailed explanation for t...

Please answer a detailed explanation for the following scenario: Your Company has recently hired a new employee for an upper level management position. They have performed exceptio

Compute the operating characteristics of interest, An urn contains nine whi...

An urn contains nine white balls and 11 black balls. A ball is drawn and replaced. If the ball is white your opponent pays you 25 cents. If it is black you pay him 25 cents. You ha

What mechanisms are available for conflict resolution, Question 1: (a) ...

Question 1: (a) "Alone of all non-western countries Japan has become a modern society, because her reforms based the new "Westernised" behaviour on traditional Japanese values

Operational Management, I have a take home exam that I need to be solved 10...

I have a take home exam that I need to be solved 100 % correct , please . I need it within 23 hours EXACTLY from now please . Thank you so much and I am really looking forward to s

Explain the principle helps in judgment, Your responses should be well-roun...

Your responses should be well-rounded and analytical and should not just provide a conclusion or an opinion without explaining the reason for the choice. For full credit, you need

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