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Inventory Management Problem Solving Related to Inventory Management Directions: Read carefully and solve the following problems. XYZ Company requires 3000 pcs of Part 001 every
Inventory Management Problem Solving Related to Inventory Management Directions: Read carefully and solve the following problems. XYZ Company requires 3000 pcs of Part 001 every other month for the use of the different departments within the company. The company spends BD 11 for the ordering cost and the holding cost is BD 4. Find the Total Cost, Frequency of Order and Length of Order if the company works 300 days. Show the link among the answers. On the other hand, in the previous experience of the same company, the replaced Production Planning and Control Officer used to order 800 pcs item. Using the same demand and costs, which do you think is a better way? Will there be a loss or savings (and how much ) if the company will maintain the previous practice
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