1. What two basic questions must be answered by an inventory-control decision rule? 2. What is the purpose of classifying items into groups, as the ABC classification does? 3. Almost certainly you have seen vending machines being serviced on your campus and elsewhere. On a predetermined schedule the vending company checks each machine and fills it up with various products. Which category of inventory model is this an example of? 4. Jill's Job Shop buys two parts (Tegdiws and Widgets) for use in its production system from two different suppliers. The parts are needed throughout the entire 52-week year. Tegdiws are used at a relatively constant rate and are ordered whenever the remaining quantity drops to the reorder level. Widgets are ordered from a supplier who stops by every three weeks. Data for both products are as follows: To WIDGET 5.000 Annual domand Holding cost of tom cost) Setup or order cost Lood time Safety stock Home 10.000 20% $150.00 4 wooks 55 units $10.00 $25,00 1 W Suits 200 a. What is the inventory control system for Tegdiws? That is, what is the reorder quantity and what is the reorder point? b. What is the inventory control system for Widgets? 5. A local service station is open 7 days per week, 365 days per year. Sales of 10W40 grade premium oil average 20 cans per day. Inventory holding costs are s0.50 per can per year. Ordering costs are SIO per order. Lead time is two weeks. Backorders are not practical the motorist drives away. a. Based on these data, choose the appropriate inventory model and calculate the economic onder antity and render naint Describe in a sentence how the nlan would work