| Demand for an item is 1,100 units per year. Each order placed costs $9; the annual cost to carry items in inventory is $2 each. In what quantities should the item be ordered? (Round your answer to the nearest whole number.) |
| Optimal order quantity | units | |
Following detail are provided :
Annual demand = D = 1100 Units
Ordering cost = Co = $9
Annual unit inventory carrying cost = Ch = $2
Therefore ,
Quantity to be ordered ( as per economic order quantity model )
= square root ( 2 x Co x D / Ch )
= Square root ( 2 x 9 x 1100/ 2 )
= 99.498 ( 99 rounded to nearest whole number )
| OPTIMAL ORDER QUANTITY = 99 UNITS |
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