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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?
Look at a recent copy of a newspaper . a. What is the top economic news story? With which of the big questions does it deal? (It must deal with at least one of them and might d
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Steel and aluminum production Steel Canada 500, France 1200 Aluminum Canada 1500, France 800 The maximum amount of steel or aluminum that Canada and France can produce if they full
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