Practical Management Science
Practical Management Science
5th Edition
ISBN: 9781305734845
Author: WINSTON
Publisher: Cengage
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Chapter 12, Problem 61P
Summary Introduction

To minimize: The total annual ordering and holding costs meeting the service level constraint.

Inventory and supply chain models:

The functions of inventory and supply chain are one of the most important business decision areas for an organization. The first important aspect of these concepts is to have adequate inventory on hand. The second important aspect is to carry a little amount of inventory as possible.

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