1. Read "HBR Coursepack: Rethining Industry's Role in a National Emergency" and discuss what you think should be done to better manage critical inventories in preparation for a significant disruption such as the COVID-19 pandemic. 2. An item has an annual demand of 240 units, a fixed ordering cost of $5, a unit cost of $7, and is held at a rate of 30% per unit annually. What is the economic order quantity (EOQ) for the item? 3. Medical masks at the local drug store are sold at a steady rate of 60 per week. The masks cost the drug store $0.15 each and sell for $0.60 each. It costs the drug store $15 to initiate an order, and holding costs are based on an annual interest rate of 25%. a. Determine the optimal number of masks for the drug store to purchase. b. How many orders per year should the drug store place? c. What is the annual holding cost? d. What is the annual setup cost? e. Discuss some problems that may arise by using a simple model like this to manage inventories of items such as medical masks. 4. Choose an item that has had its supply constrained and been in the news recently. a. Discuss the product in terms of how independent and dependent demand may affected its availability