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Product X is a standard item in a firm’s inventory. Final assembly of the product is performed on an assembly line that is operated every day. One component of product X (call it component X1) is produced in another department. This department, when it produces X1, does so at a rate of 100 units per day. The assembly line uses component X1 at a rate of 40 units per day. Given the following data: Daily usage rate = 40 units Working days per year = 250 days Daily production = 100 units Cost for production setup = $50 Annual inventory holding cost = $0.50 per unit Lead time = 7 days A) Calculate the economic order quantity B) Calculate the reordering point C) What is the expected time between orders for X1?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93133246

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