100 points) The seasonal demand for a particular product is given below:
Period 1 2 3 4 5 6
Demand 300 450 100 450 450 100
The fixed parameters are:
Fixed Cost $8
Unit Production Cost $1
Holding Cost $ 1.3
Calculate total ordering cost using following three methods:
i) Lot-for-Lot
ii) Wagner-Whitin algorithm
iii) Fixed order quantity
Which method you will chose to order and why