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Sheet1

BUS404 Assignment #2
Annual demand 16000
Unit cost $7.00
Holding rate 0.35
Order cost $52.00
Lead time 4 days
# workdays/year 250
a. Holding cost per unit per year $ 2.45
EOQ 824.13
b. Annual holding cost $1,009.55
c. Daily demand 64
ROP 256
d. Daily standard deviation 15
Daily variance 225
Lead time variance 900
Lead time standard deviation 30
Service level 0.15
Z cut off 1.036
ROP 287.09
Safety stock 31.09
e. Annual holding & order cost $2,095.29
RonZitron: At the EOQ, the annual order cost equals the annual holding cost. Thus the total of the two is also equal to twice the annual holding cost.