Question: 1. (Multiple Choice) (15 Pts.) Assume a certain product has an order cost of $12. Holding cost is $1 per product to hold for a

1. (Multiple Choice) (15 Pts.) Assume a certain

1. (Multiple Choice) (15 Pts.) Assume a certain product has an order cost of $12. Holding cost is $1 per product to hold for a year. Monthly demand is 200 units. Which of the following ordering plans would you use to minimize the Total Inventory Cost? a) Make one order each year b) Make one order per quarter c) Make one order each month d) Make one order each week e) Make 8 orders per year. f) None of the above (what is your answer?)

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