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shop that sells candles offers a scented candle, which has a monthly demand of 400 boxes. Currently, the shop purchases the candels from a supplier
shop that sells candles offers a scented candle, which has a monthly demand of 400 boxes. Currently, the shop purchases the candels from a supplier and the EOQ is 141. Candles can also be produced at the store at a rate of 30 boxes per day. Assume, for the both the scenarios (purchasing or production) holding cost is the same and production setup cost is euqal to the ordering cost. The shop operates 20 days a month. Determine the optimal production run quantity:
a.82
b.47
c.423
d.245
e.Insufficient information
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