3 a) Explain the basic tactics for reducing inventories in supplychains b) Determine the inventory items deserving most attentionand tightest inventory control. c) The University Bookstore at a prestigious private university buys mechanical pencils from a wholesaler. Thewholesaler offers discounts for large orders according to the following price schedule. The bookstore expects an annual demand of 2,500 units. It costs $10 to place an order, and the annual cost ofholding a unit in stock is 30 percent of the unit's price. NNNNN i. ii. Order Quantity 0 to 200 201 to 2,000 2,001 or more Price per Unit $4.00 $3.50 $3.25 Determine the best order quantity. Determine total cost for optimum quantity. If the order price of $3.50 is reduced to $3.30 should the decision required change