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Artists' Advantage sells painting supplies. 2080 units of the most basic brush for watercolors, the T100, are sold a year. The order cost is $30
"Artists' Advantage" sells painting supplies. 2080 units of the most basic brush for watercolors, the T100, are sold a year. The order cost is $30 per order, and the holding cost is $3.00 per box. The lead time for an order is 3 weeks, and the standard deviation of demand is 6 boxes per week.
What is the optimal order quantity of brushes?
What is the optimal number of orders per year?
Compute the period that most closely matches this EOQ.
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