A Company Uses 2,750 Per Year of a Certain Subassembly

question 43

Essay

A company uses 2,750 per year of a certain subassembly that has a purchase cost of $450, and an annual holding cost of $500 per unit.Each order placed costs $150.The company operates 300 days per year and it has found that an order must be placed with the supplier 12 working days before it can expect to receive that order.For this subassembly, find:
(a)the economic order quantity.
(b)the reorder point.

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Definitions:

Ordinary Speech

Refers to the everyday language used by individuals to communicate thoughts, ideas, and emotions.

Traditional Five Senses

The conventional categorization of human sensory experiences into sight, hearing, touch, taste, and smell.

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A research method involving thorough and detailed testing and observation to explore hypotheses and find conclusions.

Piaget

A Swiss psychologist renowned for his theories on child development, particularly his four-stage theory of cognitive development.