Suppose that a company needs 60,000 items during a year and that preparation for each production run
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Suppose that a company needs 60,000 items during a year and that preparation for each production run costs $800. Suppose further that it costs $8 to produce each item and $1.50 to store an item for one year. Use the inventory cost model to find the number of items in each production run that will minimize the total costs of production and storage.
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Related Book For
Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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