List of top Materials, Manufacturing & Industrial Engineering Questions on Inventory Control asked in GATE ME

The inventory holding cost of an item is Rs. \(0.50\) per unit per month and the ordering cost per order is Rs. \(550\). A stockist needs to supply \(10000\) units of the item per year to the customers. Assume demand is fixed and the shortage cost is infinite. Using the classical economic order quantity (EOQ) model, the optimal lot size is ________ units per order (rounded off to the nearest integer).
Daily production capacity of a bearing manufacturing company is 30000 bearings. The daily demand of the bearing is 15000. The holding cost per year of keeping a bearing in the inventory is ₹ 20. The setup cost for the production of a batch is ₹ 1800. Assuming 300 working days in a year, the economic batch quantity in number of bearings is \(\underline{\hspace{1cm}}\) (in integer).