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Question:
Describe the meaning of ABC inventory control and on what key premise is this system based?
The finance department of Electric Corporation gathered the following information: The carrying cost per unit of inventory is Rs10, The fixed cost per order is Rs20,the number of units required is 30,000 per year, the variable cost per unit ordered is Rs2 and the purchase cost price per unit is Rs30
Required:
(a) Determine the economic order quantity (EOQ) (b) Determine the total number of orders in a year (c) Evaluate the time-gap between two orders (d) What modification is required in the basic EOQ analysis in order to cope with the problem of inflation? (e) What are the limitations of the EOQ model?
During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of
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what is linear programming
what does it mean by a normal good ?
Analyse the strengths and weaknesses of GDP as a measurement. Answer Strengths of GDP as a measurement 1) It helps in making international comparison among different
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Input-Output Models Input-output models are used in economics of education in studies of cost-quality and education-labour-earnings relationships. Different levels and forms
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