Conduct and analyze simulation models for fixed$-$order$-$quantity systems with uncertain demand and lead times using the Excel Inventory Simulation template. A fixed order quantity simulation model can be developed on a spreadsheet by following the logic in the flowchart in Exhibit $12\mathrm{.}22.$ The Inventory Simulation Excel template implements this logic for input values of the order quantity, reorder point, initial inventory, inventory costs, and discrete probability distributions of demand and lead time $($see Exhibit $12\mathrm{.}23).$ Data tables $($see Supplement G$)$ can be used to replicate the simulation model multiple times to find a distribution of the average cost$/$day$.$ By experimenting with different values of the order quantity and reorder point, we can seek the lowest possible inventory cost.