Question: 1. A single inventory item is ordered from an outside supplier. The anticipated demand for this item over the next 12 months is 6, 12,

1. A single inventory item is ordered from an outside supplier. The anticipated demand for this item over the next 12 months is 6, 12, 4, 8, 15, 25, 20, 5, 10, 20, 5, and 4. Current inventory of this item is 4, and ending inventory should be 8. Assume a holding cost of $1 per period and a setup cost of $40. Determine the order policy for this item based on
a. Determine lot sizing do you obtain with the capacity constrain.
b. Determine the lot sizes using back-shifting.

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