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Management Studies

Michigan State Figurine Inc. (MSF) sells crystal figurines to Spartan fans. MSF buys the figurines from a manufacturer at $10 per unit. They send orders electronically to the manufacturer, costing $20 per order and they experience a lead time of 8 days for each order to arrive from the manufacturer. Their inventory carrying cost is 20%. The average daily demand of the figurines is 20 units per day with a standard deviation of 3 units. They are open for business 250 days a year. How much is MSF's total annual holding cost if they order twice a year?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92485065

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