Can u help me solve this problem? I know the final answer and the formula but can't quite figure out how to get the right answer.
A production facility is trying to determine the best batch size for an item that is reduced intermittently. This item has an annual demand of 1,000 units, an annual carrying cost of $10 per unit, and a setup cost of $400. They operate 50 weeks per year, and can produce 40 units per week. What is the nest batch size for this item?
The Production Order Quantity Model involves several parameters. These are required to obtain the optimal production... View the full answer