Use the EOQ Model to Determine Inventory Strategy

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In this part of the course project, you will identify an inventory process in your organization for a product with a long lifecycle. Look for a product that can be stored for long periods of time $($e$.$g$.,$ more than six months or multiple years$).$ Then you will use the EOQ Calculator to determine the optimal inventory strategy for that product.

If you do not have access to an inventory process for a product with a long lifecycle, please download the Mighty Oaks scenarios from the Project Part Three page in Canvas, and use Scenario $2$ to complete your project.

Answer the following questions. Use as much space as you need.

$1.$ Describe the product and the inventory strategy you will analyze $($or indicate that you are using Mighty Oaks Scenario $2).$ Be specific.

$2.$ Use the EOQ Calculator to calculate the total annual cost of the strategy described above. Include your calculations. If you are using Mighty Oaks Scenario $2,$ that$$s the total annual cost of the MO recruitment strategy.