Business, 08.04.2020 19:14 keasiabrown25

A manufacturing company uses 1000 non-returnable special pins a month, which it purchases at a cost of $2 each. The manager has assigned an annual holding cost of 20 percent of the purchase price per pin. Ordering cost is $40 per order. Currently the manager orders 500 pins at a time. How much could the firm save annually in ordering and holding costs by using the EOQ? (Round the final answer to 2 decimal places.)

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A manufacturing company uses 1000 non-returnable special pins a month, which it purchases at a cost...

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