A machine manufactures spare parts at the rate of 20, 000 per month. A second machine uses those spare parts at the rate 50 00 per month and remainder put into stock. It cost ₦100, 000 to set up the machine the company establish their stock hold costs 20% per annum of the average stock value each parts costs ₦250 to make. Required What batch size should be produced on the first machine and what frequency.
Chidiebere Chukwuemeka
Hey guys thanks, I later noticed it was an inventory problem and not an LPP. The student I was supposed to solve for said he wanted to solve an LPP but I later did more research and found it was an Inventory Problem. Thanks anyways.
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