Question: ( a ) Joe Henry's machine shop uses 2 , 5 0 0 brackets during the course of a year.These brackets are purchased from a
a Joe Henry's machine shop uses brackets during the course of a year.These brackets are purchased from a supplier miles away. The followinginformation is known about the brackets: marksAnnual demand: Holding cost per bracket per year: $Order cost per order: $Lead time: daysWorking days per year: i What is the EOQ?ii What is the average inventory if the EOQ is used? What would be the annualinventory holding cost?iii What is the optimal number of orders per year? What would be the annualorder cost?iv What is the total annual cost of managing the inventory?v What is the optimal number of days in between any two orders?vi What is the reorder point ROP
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