AS2021 Decision Analysis (PRD2 A 2024/25)
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Consider the Simple Inventory Control model with a constant demand and a fixed lead time which is shorter than the cycle time. Which statement is valid?
Safety or buffer stock
The EOQ model is quite sensitive to changes in costs.
A company buys calculators at a price of $3.5 per unit. The holding cost of each calculator is $0.73 per calculator p.a. The annual demand for the calculator is 20900. The cost of ordering is $39 per order.
What is the EOQ? (in whole numbers)Any price break point for quantity discount might be the most economic.
Having zero buffer stock is a required assumption of the EOQ model.
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