Question: 2. Rose machine shop uses 2500 brackets during the course of a year and this usage is relatively constant throughout the year. The brackets are

2. Rose machine shop uses 2500 brackets during

2. Rose machine shop uses 2500 brackets during the course of a year and this usage is relatively constant throughout the year. The brackets are purchased from a supplier 100km away for 1500 and the lead time is 2 days. The holding cost per bracket per year is 150 (or 10% of the unit cost) and the ordering cost per order is 1875 . There are 250 working days per year. i. What is the EOQ ii. Given the EOQ, what is the average inventory? iii. In minimizing cost, how many orders would be made each year? iv. What is the ROP? [8 Marks]

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