assume that, in a basic eoq model, the optimal order quantity is 60 units and the total cost associated with the basic eoq (i.e. g(q)) is $4,200. what is the total cost if an order quantity of 48 units is selected?

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18-11-2022
Business

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assume that, in a basic eoq model, the optimal order quantity is 60 units and the total cost associated with the basic eoq (i.e. g(q)) is $4,200. what is the total cost if an order quantity of 48 units is selected?

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jaiswaljyoti jaiswaljyoti · Answer 1 · 2022-12-01T12:41:24+01:00

If an order quantity of 48 units is selected then Total order cost will be more than $4200 because of same Holding cost and inventory cost and documentation cost etc.

What do you understand by EOQ?

The optimum order quantity for a business to purchase to reduce inventory costs such as storage charges, shortage costs, and order fees is the economic order quantity (EOQ).

The basic EOQ model takes into account carrying and ordering costs. The EOQ model implies constant demand and inventory depreciation at a constant rate exceeding zero.

Therefore, EOQ will increase by 41% when placing cost of order will be doubled and other values remain constant.

Learn more about EOQ, here:

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