Business, 05.05.2020 22:43, lsizzle59

Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Item cost $ 10.00 Standard deviation of weekly demand 25 per week Order cost $ 250.00 Lead time 1 week Annual holding cost (%) 33 % of item cost Service probability 95 % Annual demand 25,750 Average demand 515 per week a. Determine the order quantity and reorder point. (Round your answers to the nearest whole number.)

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Given the following information, formulate an inventory management system. The item is demanded 50 w...