sanpney99 sanpney99

23-01-2024
Mathematics

Answered

6. Africana Ltd (AL) is an SME that uses 300,000 units of raw materials per year. It costs TZS 20,000 to process and receive delivery of this stock regardless of the size of order.
It also costs TZS 1,000 per year to hold a unit of the raw material. Assuming complete certainty over demand and instantaneous delivery when an order is made.
What is the optimal number of items that should comprise each of this firm's orders?
(ii)
How many orders will be made per year?
What is the total inventory cost of this raw material?

Answer :

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