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Thomas Kratzer is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation.? Thomas's fastest-moving inventory item has a demand of 6,050 units per year. The cost of each unit is ?$105?, and the inventory carrying cost is ?$8 per unit per year. The average ordering cost is ?$31 per order. It takes about 5 days for an order to? arrive, and the demand for 1 week is 121 units.? (This is a corporate? operation, and there are 250 working days per? year).

a) What is the? EOQ? ______ units ?(round your response to two decimal? places).

?b) What is the average inventory if the EOQ is? used? _____units ?(round your response to two decimal? places).

?c) What is the optimal number of orders per? year? _____ orders ?(round your response to two decimal? places).

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92544066

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