What is the total annual cost? What is the maximum inventory level? What is the average inventory level? What are the reorder points? What is the number of reorders per year?
3.2 Excel Solver Assignment Economic Order Quantity Global manufacturing and services require the ordering, transportation, and logistical activities to provide adequate inventories to meet customer demand. One of the programming tools in the MBA’s Management Science toolbox is the Economic Order Quantity or EOQ model. The EOQ model in an Excel-based formula template can solve […]