Inventory Management using EOQ Model for Efficient Ordering - SlideServe
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Inventory Management using EOQ Model for Efficient Ordering - SlideServe
Learn how Economic Order Quantity model can help determine order quantity and timing to optimize inventory. Presented by Dr. Dileep Kumar Singh, Assistant Professor at Institute of Management Studies. Understand basic EOQ model assumptions and calculations for total cost. Gift shop case study included.
10 months ago
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Answered: The difference(s) between the basic EOQ model and theproduction order quantity model is(are) that:a) the production order quantity model does not requirethe… | bartleby
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Answered: Based on an EOQ analysis (assuming a constant demand), the optimal order quantity is 2,500. The company desires a safety stock of 500 units. A 5-day lead time… | bartleby
Answered: Based on an EOQ analysis (assuming a constant demand), the optimal order quantity is 2,500. The company desires a safety stock of 500 units. A 5-day lead time… | bartleby
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2.2 REQUIRED Use the information provided below to calculate the annual Economic Order Quantity (EOQ).(5 marks)INFORMATION: The monthly sale of an item is 900 units. The selling price per unit is R7.50, and the item is sold at cost plus 50%. The ordering cost amounts to R20 per order, and the holding cost per unit is equal to 10% of the unit cost of the item.
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