A company needs 450,000 items per year. Production costs are $1000 to prepare for a production run
Question:
A company needs 450,000 items per year. Production costs are $1000 to prepare for a production run and $20 for each item produced. Inventory costs are $4 per item per year. Find the number of items that should be produced in each run so that the total costs of production and storage are minimized.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Question Posted: