An Organization Has Had a Policy of Ordering 70 Units

question 93

Essay

An organization has had a policy of ordering 70 units at a time.Their annual demand is 340 units,and the item has an annual carrying cost of $2.The assumptions of the EOQ are thought to apply.For what value of ordering cost would this order size be optimal?

---

Definitions:

Human Resources Management (HRM)

The strategic approach to managing a company’s employees, focusing on policies and systems to maximize workforce performance and satisfaction.

Philosophies

Fundamental beliefs or theories that guide actions and decisions, often applying to disciplines like ethics, education, politics, and personal development.

Practices

Refers to established methods or procedures that are followed consistently in a professional or business context to achieve desired outcomes or maintain standards.

Online Customer Service

Online Customer Service is a support provided to customers through digital platforms such as email, chat, social media, and websites, allowing for immediate or timely responses to queries and issues.