Problem #1 You own a manufacturing company that uses 3000 hinges per year. The h

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Problem #1 You own a manufacturing company that uses 3000 hinges per year. The hinges are purchased from a company in the next county at a cost of $15 each and it takes the supplier 2 days to deliver the order once it is received. The holding cost per hinge is $1.50 per year. You have determined that it costs you $18.50 every time you place an order. There are 250 working days in each year. a) What is the EOQ? b) Given the EOQ, what is the average inventory? c) How many orders would you place each year and what would be the annual ordering cost? d) What is the time between orders? e) What is the ROP? Problem #2 Susan

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please post them as individual questions

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