Question: 3. Joe Henry's machine shop uses 3,000 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The

Annual demand

Holding cost per bracket per year

Order cost per order

Lead time

Working days per year

3,000

$1.50

$50.00

3 days

250

a. Given the above information, what would be the economic order quantity (E0Q)?

b. Given the E0Q, what would be the average inventory? What would be the annual inventory holding cost?

Given the E0Q, how many orders would be made each year? What would be the annual order cost?

Given the EOQ, what is the total annual cost of managing the inventory

e.What is the time between orders?

f. What is the reorder point (ROP)?

3. Joe Henry's machine shop uses 3,000 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets: (12 points) a. Given the above information, what would be the economic order quantity (EOQ)? b. Given the EOQ, what would be the average inventory? What would be the annual inventory holding cost? c. Given the EOQ, how many orders would be made each year? What would be the annual order cost? d. Given the EOQ, what is the total annual cost of managing the inventory? e. What is the time between orders? f. What is the reorder point (ROP)

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