Question: 2. Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Parameter Value Item cost $10.00 Order cost

2. Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Parameter Value Item cost $10.00 Order cost $250.00/order Annual holding cost 33% of item cost Annual demand 25,750 units 515/week Average weekly demand Standard deviation of weekly demand 25 units 1 week Lead time 95% Service probability a) State the order quantity and reorder point. Focus

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