A company needs to produce 288000 items per year production, Operation Management

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A company needs to produce 288000 items per year production

Inventory cost model

A company needs to produce 288,000 items per year. Production costs are $1500 to prepare for a production run and $30 for each item produced.

Inventory costs are $1.50 per year for each item stored. Find the number of items that should be produced in each run so that the total costs of production and storage are minimum.

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Operation Management: A company needs to produce 288000 items per year production

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Operation Management: A company needs to produce 288000 items per year production

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