A car manufacturer requires 6000 steering wheels per year for one of its city cars. You can assume that the demand for steering wheels is constant over time. Steering wheels can be produced internally at a production rate of 11,000 units per year. The production cost is 23 per unit, and the production set up cost is 350. Alternatively, the steering wheels can be purchased from a local supplier. The supplier charges 25 per unit and the fixed cost of placing a replenishment order to the supplier is 200. The supplier has a two-week lead time. The inventory holding cost for the steering wheels is based on a 25% annual interest rate. What is the best way to satisfy the demand for steering wheels? Using appropriate inventory models, compare the options of internal production and local sourcing from the supplier. Calculate all the relevant inventory characteristics for both options and provide a full cost analysis to justify your answer. A car manufacturer requires 6000 steering wheels per year for one of its city cars. You can assume that the demand for steering wheels is constant over time. Steering wheels can be produced internally at a production rate of 11,000 units per year. The production cost is 23 per unit, and the production set up cost is 350. Alternatively, the steering wheels can be purchased from a local supplier. The supplier charges 25 per unit and the fixed cost of placing a replenishment order to the supplier is 200. The supplier has a two-week lead time. The inventory holding cost for the steering wheels is based on a 25% annual interest rate. What is the best way to satisfy the demand for steering wheels? Using appropriate inventory models, compare the options of internal production and local sourcing from the supplier. Calculate all the relevant inventory characteristics for both options and provide a full cost analysis to justify your