A company has the procurement pattern of five items irrespective of th

Question

A company has the procurement pattern of five items irrespective of their level of demand as given in the table 1:

Item No.	Annual Demand (Rs.)	No. of orders per year	Order Size (Rs.)
1	10,00,000	4	2,50,000
2	6,40,000	4	1,60,000
3 4	9,00,000 2,500	4 4	22,500 625
	9,00,000 2,500	4 4	22,500 625
5	1,600	4	400

Reduce the inventory levels while keeping total number of orders per year the same.

08 Sep 2023

Answer :

Word Count : 258

To reduce inventory levels while keeping the total number of orders per year the same, you can implement the Economic Order Quantity (EOQ) model. The EOQ model helps determine the optimal order quantity for each item to minimize total inventory costs (holding costs _________ ____ ___ ___ ___ _____ ____ _________ __________ ________.
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