What should their order up to quantity be

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Reference no: EM132198894

1. Phoenix Valley Lighting is preparing an inventory management plan for fluorescent bulbs. They have a forecasted demand of 11,593 bulbs per month with a MAD of 207 bulbs per month. The lead time to receive bulbs is 2 week(s) and they would like to have a 99% service level to avoid turning away customers. Their ordering cost is $518 and their holding cost is $4 per bulb (breakage)per year.

2. When doing all calculations assume that there are 4 weeks in 1 month and there are no other contractual requirements on order quantities or frequencies.

3. If following a fixed time inventory system with a review period of 2 weeks, what should their order up to quantity be? Be sure to enter your results with two decimal places.

4. Typically, we use quotations and competitive bidding to buy items that several companies can produce. How do we determine who brings the best value to us in addition to price? Please explain your answers.

Reference no: EM132198894

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