7.Given the following information, calculate the EOQ: a.Annual demand = 2,000,000 b.Cost or ordering = $52 c.Carrying costs = 45% d.Item cost = 525 939 units. 8.Using the information in #7 what is the number of annual orders? 2,000,000/ 939 = 2129.93 orders per year. 9.If the company in #8 uses exponential smoothing (smoothing factor = .6) and the forecast for the year is the figure they use for EOQ calculations, calculate the EOQ using the following information: a.The cost of ordering and carrying cost % are the same as #7 b.Starting with 2020, Forecast the 2022 demand using exponential smoothing and then use that forecast as the annual demand to calculate the EOQ. EOQ = 891 units. 10.How does the concept of inventory management relate to the six rights that we looked at in the discussions of perfect order fulfillment? (thinking question) The concept of inventory management relates to the six rights of the perfect order fulfillment because it makes sure that the right products are on hand in the correct quantity, as well as being in good condition, and ensuring it is at the right place at the right time while also maintaining the right cost. Inventory managements 4 questions relate these perfect order fulfillments: The right product, The right quantity, the right time, and the right place. It also mentions that costs are important to consider which is another perfect fulfillment order.yearsales 20191,000,00 0 20201,500,00 0 20212,000,00 0 20221,800,00 0
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