[20 pts) Lot Sizing in Material Requirement System (MRP) Michael Jordan, senior in the department of management at JSU, recently got a job as a production planner at Honda Plant in Lincoln, Alabama. His first task on the job training is to review the master production plan shown below: (Initial inventory = 140 units, Ordering cost = $300 per order, Lead time = 1 week, Holding cost = $2 per unit per week. No penalty cost for shortage/stock-outs.) Part: Period O 02 314 56 Gross requirements 90 160 110 120 10 BO Develop an ordering plan and costs for this plant using the following techniques 90 Develop the ler forlot MRP Cable and calculate the total relevant costs Part: Period Lot-for-Lot Lot Sizing 2 14 15 16 Gross requirements 160 110 120 10 80 Scheduled receipts Projected avallable (Beg.140 Inv. On hand End of period) Net requirements Planned order receipts Planned order releases Lead time Lot size Holding Cost Ordering Costs Total Cost (b) Develop the Economic Order Quantity EOQloc sizing technique. Assume 200) Part: Period EOQ Lot Sizing (EOQ =180) 0 1 2 3 4 5 6 Gross requirements 90 160 110 120 10 Scheduled receipts Projected available (Beg.) 140 Inv. On hand (End of period) Net requirements Planned order receipts Planned order releases Lead time Lot size Holding Cost Ordering Cost 19 c) Develop the Periodic Order Quantity (POQ) lot sizing technique. Assume POQ Interval = 2 weeks) Part: Period POQ Lot Sizing 2 3 Gross requirements 90 160 110 129 80 Scheduled receipts Projected available (Beg.). 140 Inv. On hand (End of period) Net requirements Planned order receipts I Planned order releases Lead time Lot size Holding Cost = Ordering Cost Total Gast (d) Among the three lot sizing techniques above, which one is the best strategy with the lowest cost