) The MD of the company seeks your expert advice on ways in which to determine the economic order uantity, optimal order cycle time, re-order level and total annual inventory cost. Advise the MD, pro- iding detailed explanation using your answer. Write your answer in a form of a report to the MD. )Advise the MD about savings, if any, could be made by changing from current order quantity of GH¢ 000 units to the one obtained in (a) above. ) Describe the order policy followed by the firm based on your calculations. ) Explain any two assumptions about the order policy.

) The MD of the company seeks your expert advice on ways in which to determine the economic order uantity, optimal order cycle time, re-order level and total annual inventory cost. Advise the MD, pro- iding detailed explanation using your answer. Write your answer in a form of a report to the MD. )Advise the MD about savings, if any, could be made by changing from current order quantity of GH¢ 000 units to the one obtained in (a) above. ) Describe the order policy followed by the firm based on your calculations. ) Explain any two assumptions about the order policy.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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