GATE ME 2015 Set 3 — Question 43
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Industrial Engineering → Inventory Control → EOQ Model
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Question
The annual requirement of rivets at a ship manufacturing company is . The rivets are supplied in units of costing Rs. each. If it costs Rs. to place an order and the annual cost of carrying one unit is of its purchase cost, the cycle length of the order (in days) will be ________
Correct answer
76 to 78
Solution
Given:
Annual demand () =
Unit cost () = Rs.
Ordering cost () = Rs.
Carrying cost () = of unit cost = First, calculate the Economic Order Quantity ():Next, find the number of orders per year ():Finally, calculate the cycle length in days:The value lies within the range to .
Annual demand () =
Unit cost () = Rs.
Ordering cost () = Rs.
Carrying cost () = of unit cost = First, calculate the Economic Order Quantity ():Next, find the number of orders per year ():Finally, calculate the cycle length in days:The value lies within the range to .
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