How much should we order each time to minimize our total, HR Management

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How much should we order each time to minimize our total

Annual demand for a product is 13,500 units. Annual carrying cost per unit of product is $17. Ordering cost per order is $155. Assume a year is 350 days.

1. How much should we order each time to minimize our total cost?

2. How many times should we order?

3. What is the length of an order cycle?

4. Compute the total ordering costs.

5. Compute the total costs.

6. Compute the flow time. Throughput is equal to demand. Average inventory is half of maximum inventory.

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HR Management: How much should we order each time to minimize our total

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HR Management: How much should we order each time to minimize our total

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