Determine the lot size for industry b in the given scenario, Ask an Expert

Management Studies

Q. Industry B's demand is uniform throughout the year and totals 15,000 units per year. The production setup costs total $84 per setup. The annual holding cost rate is 28% of the value of the inventory. The per-unit cost of finished product is $19. The production rate is constant and equivalent to 60,000 units per year.

Determine the lot size for Industry B in the given scenario that would minimize total annual cost by using the economic production lot size model, showing all of your work.

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M9391077

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