Essay
A shop that makes candles offers a scented candle, which has a monthly demand of 360 boxes.Candles can be produced at a rate of 36 boxes per day.The shop operates 20 days a month.Assume that demand is uniform throughout the month.Setup cost is $60 for a run, and holding cost is $2 per box on a monthly basis.
Determine the following:
(A) the economic run size
(B) the maximum inventory
(C) the number of days in a run
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