Question: please provide proper explanation. Develop an inventory control system for a new product just starting production when the following information is given: a) Production economic

please provide proper explanation.

Develop an inventory control system for a new product just starting production when the following information is given: a) Production economic lot size is 1000 units. b) Production rate (supplied daily to inventory) is 50 units per day. c) Usage rate is 20 units per day. d) Production start up takes 105 days after an order is placed. e) Annual cost of storing 1 unit is $5.00 f) Production cost of product is $15.00 g) 240 production and sales days per year

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