A store has collected the following information on one of its products: Demand = 5,000 units/year Ordering costs = $12/order Holding costs = $4/unit/year Lead-time = 5 days weeks Unit cost = $748/unit Number of weeks per year = 50 weeks a) The firm currently orders 500 units per order. What is the total cost of orderir holding these goods under this system? b) Determine their economic order quantity and cost of ordering and holding goods

The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project get…

The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer …

Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.

Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective…