Consider the bolt example from promblem 4 yet again, assuming that the demand of 60 per week is correct. Now,however the minimum reorder is 1 month and all order cycles are placed on a power-of-2 multiple of months( that is ,1 month ,2 month ,4 month, 8 months, etc.) in order to permit truck sharing with orders of other parts.
a) What is the least -cost reorder interval under this restriction?
b) How much does this add to the total?
c) How is the effectiveness of powers-of-2 order intervals related to the results of the previous problem regarding the effect of demand forecasting errors? 7)