Question: Demand and inventory data for the standard component LHS which is purchased by the Steelers Corporation are given below. MRP is used to schedule its

Demand and inventory data for the standard

Demand and inventory data for the standard component LHS which is purchased by the Steelers Corporation are given below. MRP is used to schedule its production for this corporation. The Inventory Manager is interested in evaluating different lot size MRP plans. Component LHS Week 1 2 3 4 5 Demand 180 150 220 190 135 Develop the four (4) different MRP records indicated below for the Inventory Manager to review. 1. Complete the MRP Record for each lot size identified 2. 2. Determine the cost of each method based on ordering and holding costs. 3. Which lot sizing rule would you recommend to the Inventory Manager? (a) EOQ = 300 parts (b) L4L (Lot for Lot) (C) P=2 weeks (start with the first week you do not have enough parts in inventory to cover next week's demand) (d) minimum of 150 parts Additional Information Ordering cost =$100 per order Holding cost = $1 per part per week Lead time = 1 week Beginning inventory = 200

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