Given the following Gross Requirements for a component:

30 units in week 1, 40 units in week 3, 30 units in week 5

70 units in week 6, 20 units in week 7, 10 units in week 9

80 units in week 10, and 50 units in week 12

The holding cost is $2.50 per unit per week The setup cost is $150 Lead time is 1 week Beginning inventory is 40 units Stockout cost is $10 per unit shortage

a) Develop a lot for lot solution and calculate all the relevant costs

b) Develop an EOQ solution and calculate all the relevant costs

c) Develop a POQ solution and calculate all the relevant costs

d) Which solution provides the lowest total cost