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EOQ Calculations for Bicycle Inventory by Majid Khan is a document available to read on EtoBox.
What is EOQ Calculations for Bicycle Inventory about?
The company produces 450 bicycles per month and buys tires from a supplier. It needs to calculate the economic order quantity (EOQ) of tires to order to minimize total inventory costs. The EOQ is calculated to be 600 tires. Ordering this quantity would result in 18 orders per year, with a total annual ordering cost of $900 and average annual carrying cost of $900, for a total cost of $1,800.
- Author
- Majid Khan
- Language
- EN