engineering recuitment GATE ME 2023-24 Test Series Industrial Engineering Production Planning and Inventory Control Inventory Control
A manufacturing company XYZ purchases 50,000 parts of a machine for its annual requirements and each part cost is Rs. 40. The ordering cost per order is Rs. 25 and the inventory holding charges are 10% of the unit cost per year. If the maximum quantity that can be ordered at a time is 600 units. What will be the minimum total inventory cost?
Enter numerical value using the virtual keypad. Round off where necessary.