What is the optimal order quantity

Assignment Help Applied Statistics

Reference no: EM131017469

The following problems must de done using Excel QM: You can save it as an excel file when complete

A. Omar Haaris receives 5,000 tripods annually from Top-Grade Suppliers to meet his annual demand. Omar runs a large photographic outlet, and the tripods are used primarily with 35mm cameras. The ordering cost is $15 per order, and the carrying cost is $0.50 per unit per year. Weekly demand is 100 tripods. What is the optimal order quantity?

B. Based on available information, lead time demand for CD-ROM drives averages 250 units (normally distributed), with a standard deviation of 25 drives. Management wants a 98% service level. How many drives should be carried as safety stock? What is the appropriate ROP?

Reference no: EM131017469

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