Determine the ordering quantity that minimized ordering and, Operation Management

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Determine the ordering quantity that minimized ordering and

You're managing the inventory of a regional hospital and one of your most critical items has an annual demand of 6,000 units per year. The unit cost is $100; the holding cost is $10 per unit per year and the ordering cost is $30 per order.

a. Determine the ordering quantity that minimized ordering and holding costs.

b. Determine the total annual inventory cost of this item.

c. How many orders will you place in 1 year?

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