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A particular raw material is available to a company at three different prices, depending on the size of the order: (1) less than 100 pounds is $20/pound, (2) 100 pounds to 1,000 pounds is $19/pound, and (3) more than 1,000 pounds is $18/pound. The cost to place an order is $40. Annual demand is 3,000 pounds. Holding (or carrying cost) is 25% of the material price. What is the economic order quantity for the material?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92243163

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