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1. (15 pts) A company orders 5 different parts which are used in the process of manufacturing their own products. The following table shows the
1. (15 pts) A company orders 5 different parts which are used in the process of manufacturing their own products. The following table shows the yearly demand and holding cost (per year) for each part: The company's objective is to minimize the total holding cost. The desired order frequency is 20 per year. Using Multi-Product EOQ procedure and interval bisection, try to find the optimal order cost. Assume that the tolerance e for satisfying the constraint is 0.010 . You may use Goal Seek only to confirm the answer from the interval bisection method
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