A jewelry firm buys semiprecious stones to make bracelets, Ask an Expert

Management Studies

A jewelry firm buys semiprecious stones to make bracelets, necklaces and rings. The Supplier quotes a prices of $8.00 per stone for quantities of 600 stones or more, $9.00 for quantities from 400 to 599 stones and $10.00for quantites from 1 to 399 stones. The firm operates 200 days per year and uses 25 stones per day. The firm's ordering costs are $48 per order and holding costs are $2.00 per stone per year.

Determine the order quantity that will minimize your total annual cost.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92544863

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