please solve the following question fully with complete solution and full workout

The production planning system at ABC Manufacturing Company is run weekly to update the Master Production Schedule (MPS) and MRP records. At the start of week 4, the MPS for end products X and Y are: 5 6 9 Week Product X Product Y 4 10 5 7 5 20 8 10 25 30 20 One unit of component C is required in each product X and three components C are required for each end product Y. The production and assembly lead time for product X and Y are 1 week and 2 weeks, respectively. Component C is ordered from a supplier with lead time 2 weeks. The inventory records show that 3 units of X are in stock at the end of week 3. In addition, 40 units of C are expected to arrive at the start of week 1. (a) Using an MRP approach and assuming lot-for-lot lot sizing, calculate the planned order release for component C. Clearly explain your approach and organise your calculations in an appropriate table. [70%] (b) Suppose that the inventory holding cost for component C is 1 per unit per week and that the fixed cost of placing an order to the supplier is 45. Calculate the cost of ordering component C according to the lot-for- lot lot sizing rule (see part a) and compare this with a schedule where the lot sizes are determined through the EOQ formula. Do you recommend using EOQ lot sizes? Why (not)? (30%) The production planning system at ABC Manufacturing Company is run weekly to update the Master Production Schedule (MPS) and MRP records. At the start of week 4, the MPS for end products X and Y are: 5 6 9 Week Product X Product Y 4 10 5 7 5 20 8 10 25 30 20 One unit of component C is required in each product X and three components C are required for each end product Y. The production and assembly lead time for product X and Y are 1 week and 2 weeks, respectively. Component C is ordered from a supplier with lead time 2 weeks. The inventory records show that 3 units of X are in stock at the end of week 3. In addition, 40 units of C are expected to arrive at the start of week 1. (a) Using an MRP approach and assuming lot-for-lot lot sizing, calculate the planned order release for component C. Clearly explain your approach and organise your calculations in an appropriate table. [70%] (b) Suppose that the inventory holding cost for component C is 1 per unit per week and that the fixed cost of placing an order to the supplier is 45. Calculate the cost of ordering component C according to the lot-for- lot lot sizing rule (see part a) and compare this with a schedule where the lot sizes are determined through the EOQ formula. Do you recommend using EOQ lot sizes? Why (not)? (30%)