B6 (a) Describe, using diagrams, the fixed interval and fixed quantity inventory control systems. List an advantage and disadvantage of each. (6 marks) (b) A company wishes to minimise the costs associated with ordering and storing an item of inventory which has a unit cost of 100. The company uses 10 of the components per week, the cost of placing an order is 16 per order and the holding cost is 0.04 per item per day. The company operates 365 days per year. If the lead time is 30 days and the company wishes to hold a safety stock of 20 items, calculate: (1) The economic order quantity (ii) The reorder point (iii) Ordering cost per annum (9 marks) (c) A car body repair business has the following jobs, shown in Table B6, to be scheduled. Schedule the jobs according to the first come first served (FCFS) and Earliest Due Date First (EDDF) rules. For each of the two rules, list which jobs will not be completed on time and calculate the total number of days overdu Table B6 JOB NUMBER Processing time (days) Day due (day) 1 2 4 2 4 8 3 2 4 5 5 8 27 6 1 7 2 12222 23 (10 marks)