Question: joe henrys machine shop uses 2,530 brackets during the course of a year. these brackets are purchased from a supplier 90 miles away. the following

joe henrys machine shop uses 2,530 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

annual demand 2,530

holding cost per bracket per year $1.60

order cost per order $19.00

lead time 2 days

working days per year 250

a) what is the EOQ=? round to two decimal places

b) what is the average inventory if the EOQ is used =? round to two decimal places

what would be the annual inventory holding cost =? round to two decimal places

c) given the EOQ, how many orders will be made annually =? round to two decimal places

what would be the annual order cost=? round to two decimal places

d) given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory =? round to two decimal places

e) what is the time between orders=? round to two decimal places

f) what is the reorder point (ROP) =? round to two decimal places

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