Question: 8. Recommend a target inventory level needed for a five-day period based on the following: to be on the cautious side, assume each day's supply

8. Recommend a target inventory level needed for
8. Recommend a target inventory level needed for a five-day period based on the following: to be on the cautious side, assume each day's supply will be equal to the average daily demand for all locations combined, plus three standard deviations. Since the mean and standard deviations might not already be integers, round the daily demand up to the nearest whole number. Then, use this calculated daily demand (average plus 3 standard deviations) to calculate demand over a five-day period. Place this recommendation just below the top/bottom analysis, again clearly identifying it. Add the label Bearing Recommended to identify the cell containing the actual value. 9. The warehouse manager has tracked a total of five different parts over the past five days, recording for each shipment the value of the part and the number of days it was in storage. One of these tracked parts is the bearing you have just analyzed. The data has been compiled in a workbook named Demand.xlsx. Each line item represents a single shipment of one item. Copy the data from the Demand.xlsx workbook to your workbook and place it on a worksheet named Actual Demand. 10. On the same worksheet, summarize the data to determine the number shipped by part, the total values of those shipments by part, and the average number of days that part was stored, using the format shown in the table below

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