The blank cell which is Q*. I want know that cell with solver which is Excel fun

Question

The blank cell which is Q*. I want know that cell with solver which is Excel function.

Can you show me how to solve that cell with Excel solver? Please show process.

Economic Order Quantity Model (EOQ Model) 1.50 150.00 Carrying cost, H Ordering cost, S Demand, D Daily Demand, d Work Days per year Lead Time Q* (using formula) 10,000 units 32.15 units 311 days 18 days 1,414.21 units Total Holding Cost S 1,060.66 Total Ordering Cost $ 1,060.66 Total Cost, TC Orders per year Time between orders Reorder Point, ROP $ 2,121.32 7.07 orders 44 days 579 units

Explanation / Answer

1 Carrying Cost H $      1.50 2 Ordering Cost S $ 150.00 3 Demand D     10,000 units 4 Daily Demand d 32.15 units 5 Working Days per Year 311 days 6 Lead Time 18 days Q* ( using Formula ) Formula =SQRT(2*10000*150/1.5) 1414.21 Economic order Quantity = Sqaure root of (2 X Demand X Ordering Cost) / Carrying Cost = Square root of (2 X D X S) / H = Square root of(2 X 10000 X 150/1.5) or = SQRT(2*10000*150/1.5) For Square root in Excel we can use SQRT function as shown above.

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