Use the Inventory Simulation Excel template in MindTap for the Scott Audio Systems example in section 12-7 to determine the best order quantityreorder point combination with the smallest average cost/day for all combinations of reorder points five, seven, and nine, and order quantities 10, 20, and 30. What is the best combination? You need only change the input values in the template, but recalculate each combination ten times using a data table to average out variations in the simulations.
Once you set up the data table, it will automatically update as the input values are changed.