Operation Management Determination
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The Wallace stationary company purchases paper from the Seaboard Paper Company. Wallace produces stationary that require 1,415,000 sq. yards of stationary per year. The cost per order for the company is $2,200; the cost of holding 1 yard of paper in inventory is $.08 per year.
Determine the following:
A. Economic order quantity
B. Minimum total annual cost
C. Optimal numbers of orders per year
D. Optimal time between orders
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Solution Summary
The expert examines operations management determination. The economic order quantity, minimum total annual cost, optimal numbers of orders per year and optimal time between orders are determined.
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