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Question (3): Answer the following problem: (8 marks) A company makes bicycles has an annual demand of 5000. They want to determine Economic Order Quantity

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Question (3): Answer the following problem: (8 marks) A company makes bicycles has an annual demand of 5000. They want to determine Economic Order Quantity for bicycles which have an annual holding cost (H) of $5/unit, and an ordering cost (S) of $50. They want to calculate TC and the reorder point (R) if the purchasing lead time is 5 days

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