Question: Joe Henry's machine shop uses 2,500 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following

Joe Henry's machine shop uses 2,500 brackets

Joe Henry's machine shop uses 2,500 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: 2.500 Annual demand Holding cost per bracket per year Order cost per order $1.50 $18.75 Lead time 2 days 250 Working days per year a. (3 pts) Given the above information, what would be the economic order quantity (EOQIY b. (2 pts) Given the EOQ, what would be the average Inventory (round your response to one decimal place) c. (1 pt) Given the EOQ, what would be the annual inventory holding cost? (round your response to one decimal place) d. (2 pts) Given the EOQ, how many orders would be made each year? (round your response to one decimal place) e. (1 pt) Given the EOQ, What would be the annual order cost? (round your response to one decimal place) f. (1 pts) Given the EOQ. what is the total annual cost (holding and ordering costs) of managing the inventory? (round your response to one decimal place) e. (3 pts) Given the following price breaks for purchasing the item, what will the new optimal order quantity? (round your response to one decimal place) Quantity Price 1-499 $1 per unit 500 or more $0.8 per unit e. (2 pts) What will the total annual cost of managing the inventory including the cost of purchasing the item based on the new optimal order quantity? (round your response to two dec places)

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