Orders components for distribution at a monthly demand of 900 units. Holding costs are 15% of the unit cost of $23.75. The ordering cost is $47.35. The company operates 240 days per year.

(a) Discuss the importance of effective inventory management in the context of ABC Inc.'s operations.
(b) Define and explain the components involved in determining holding costs, including their relationship with the unit cost.
(c) Examine the factors influencing the ordering cost and its significance in the inventory management strategy.
(d) Explore the implications of ABC Inc. operating 240 days per year on its ordering and holding costs.