Clancy's Motors has the following demand to meet for custom manufactured fuel injector parts. The holding cost for that item is $.75 per month and each setup costs $150. Calculate the order quantity by use of the part-period algorithm. Lead time is 2 months.
Definitions:
Optimal Level
The most favorable point or condition that yields the best outcome for a specific objective, such as profit maximization or cost minimization.
Maximize Profits
The process of increasing the financial gain from business activities to the highest possible level.
Product Availability
The extent to which goods are in stock and accessible for purchase by consumers.
Postponement
A strategy that involves delaying the final activities in the provision of a product until after receiving a customer order, helping to reduce inventory and improve customization.
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