Question: Build Excel Simulation Models for an Inventory Control system with ( T , Q ) Policy. Below is the description of how this system works.
Build Excel Simulation Models for an Inventory Control system with T Q Policy. Below is the
description of how this system works.
Assume that a company sells a product whose daily demand follows a simple discrete
distribution with a few possible values. Here is the distribution:
Demand
Probability
The inventory policy is it orders and receives every T days with a quantity of Q For example,
T and Q The holding cost is $day per unit and each orders fixed cost is $
paperwork plus transportation cost Backorder is allowed and costs $day per unit.
Please build an Excelbased simulation model for such an inventory system. Simulate days.
Then use Data Table approach to investigate the optimal T for a given QReplicate
times I need clear answers step by step on Excel
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