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Set up the Economic Order Quantity model given the information below. Annual Demand 50,000 units Order Cost $150 per order Unit Cost $100 per unit Inventory Holding 15% of unit cost (a) What is the Economic Order Quantity of the product? Please include the formula, at least one step of calculation, and the correct answer for full credit. (b) What is the total annual cost when EOQ is ordered each time? Please include the formula, at least one step of calculation, and the correct answer for full credit.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93122023

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