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3. Apply the Economic Order Quantity (EOQ) process to more effectively manage the following situation: Hospital Fresh Frozen Plasma (FFP): $100 per unit price 80%
3. Apply the Economic Order Quantity (EOQ) process to more effectively manage the following situation: Hospital Fresh Frozen Plasma (FFP): $100 per unit price 80% holding cost per unit $100 ordering cost 1-week lead time for orders The hospital uses 20 units on average each week. What is the Reorder Point? What is the EOQ? How many times per year will the hospital likely order FFP? If the hospital could reduce the holding cost of FFP, would the hospital order more or less often in the future? Briefly (1 or 2 sentences) outline a process or technique that may enable the hospital to moderate FFP holding costs
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