Operations Management Tools & Methods
Get perfect grades by consistently using www.college-experts.com. Place your order and get a quality paper today. Take advantage of our current 20% discount by using the coupon code GET20
Order a Similar Paper Order a Different Paper
As the production manager, you need to minimize both ordering and inventory costs. You need to provide a recommendation of the optimal order quantity of raw materials to your plant manager. Your objective is to determine the economic order quantity (EOQ). If the annual demand for Ultamyacin at Smitheford is 400,000 units, then the annual carrying cost rate is 15% of the cost of the unit. The product costs $48/unit to purchase, and the product ordering cost is $28.00.
In your report, discuss information based on the following questions:
- What is the basic EOQ?
- What is the TC (total cost) at the EOQ?
- How much would the TC increase if the order quantity must be 1,000 units?
- How is JIT (just-in-time) ordering methodology different from EOQ methodology?
Show all your calculations.
750-1000 words APA
Do you need help with this or a different assignment? We offer CONFIDENTIAL, ORIGINAL (Turnitin/LopesWrite/SafeAssign checks), and PRIVATE services using latest (within 5 years) peer-reviewed articles. Kindly click on ORDER NOW to receive an A++ paper from our masters- and PhD writers.
Get a 15% discount on your order using the following coupon code SAVE15
Order a Similar Paper Order a Different Paper