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help please 47 Littlefield Labs processes blood testing jobs and for each job a testing kit is used. Littlefield purchases the kits as raw materials
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47 Littlefield Labs processes blood testing jobs and for each job a testing kit is used. Littlefield purchases the kits as raw materials from a supplier at a price of $600 each and the money is immediately deducted from an interest-bearing bank account with an annual interest rate of 6% when an inventory replenishment order is placed with the supplier. An order is placed to the supplier as soon as Littlefield runs out of inventory and for each order, the supplier also charges a fixed shipping cost of $2000 for a quick one-hour delivery, regardless the size of the order. It is estimated that Littlefield will have an annual demand of 1100 jobs and daily demand is relatively stable over the year. On average, how often should Littlefield order to minimize its inventory cost? (Your simulation case may vary.) Littlefield should order about 1 time a year, or once every 365 days Littlefield should order about 3.14 times a year, or once every 116 days Littlefield should order about 18.17 times a year, or once every 20 days Littlefield should order about 12 times a year, or once every 30 days Littlefield should order about 12.85 times a year, or once every 28 days Littlefield Labs processes blood testing jobs and for each job a testing kit is used. Littlefield purchases the kits as raw materials from a supplier at a price of $600 each and the money is immediately deducted from an interest-bearing bank account with an annual interest rate of 6% when an inventory replenishment order is placed with the supplier. An order is placed to the supplier as soon as Littlefield runs out of inventory and for each order, the supplier also charges a fixed shipping cost of $2000 for a quick one-hour delivery, regardless the size of the order. It is estimated that Littlefield will have an annual demand of 1100 jobs and daily demand is relatively stable over the year. If Littlefield place an EOQ to its supplier every time, what is the long run average inventory level? (Your simulaton case may vary) 30 43 550 175 Step by Step Solution
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