The production department for a companyrequires 3500kg, of row material formanufacturing a particular item per year. Ithas been estimated that the cost of placingan order is Rs.35 & the cost of carryinginventory is 25 percentage of the investmentthe inventories. The price is Rs.10 per kg. Thepurchase manager wishes to determine anordering policy for raw material. Calculate (1)The optimal lot size (2) The minimum yearlyvariable inventory cost (3) The optimal ordercycle time (4) The minimum yearly totalinventory cost.I need correct solution upto 2 decimal point.

Answered: Image /qna-images/answer/2cb10784-91db-4cac-8751-3d42cef9a5bb.jpg

Answered: The production department for a company…

Elements Of Electromagnetics

7th Edition

ISBN:9780190698614

Author:Sadiku, Matthew N. O.

Publisher:Sadiku, Matthew N. O.

ChapterMA: Math Assessment

Section: Chapter Questions

Problem 1.1MA

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