Items purchased from a vendor cost $20 each, and the forecast for next year's demand is 1,000
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Items purchased from a vendor cost $20 each, and the forecast for next year's demand is 1,000 units. If it costs $5 every time an order is placed for more units and the storage cost is $4 per unit per year, what quantity should be ordered each time?
a. What is the total ordering cost for a year?
b. What is the total storage cost for a year?
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Rishabh Ojha
During my undergraduate i used to participate as TA (Teaching Assistant) in several electronics and computers subject. I'm passionate about learning Computer Science as my bachelors are in Electronics but i learnt most of the Computer Science subjects on my own which Machine Learning also. At Present, i'm a working professional pursuing my career as a Machine Learning Engineer and i want to help others learn during my free hours, that's all the motivation behind giving tuition. To be frank i have no prior experience of tutoring but i have solved problems on opensource platforms like StackOverflow and github. ~Thanks
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Related Book For 
Operations Management For Competitive Advantage
ISBN: 1572
11th Edition
Authors: Richard B. Chase, F. Robert Jacobs
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