Question: Excel Project: 1) Use the demand data to develop the APPROXIMATE EOQ policy (compute total costs, order size, average inventory, etc.). 2) Compute the real

Excel Project: 1) Use the demand data to develop the APPROXIMATE EOQ policy (compute total costs, order size, average inventory, etc.). 2) Compute the real cost based on the implementation plan. Provide your brief opinion based on the difference.

Inventory Models are used in this task. It will provide you with demands for some periods. It will request that you adopt an appropriate inventory method to manage the demand. This may necessitate some approximation/adjustment, etc. You need to describe how the policy will be implemented, what adjustment will you make, the impact of the adjustment, and your comments/recommendations based on the implementation. Please complete the tasks on the excel sheet (Tasks 1 and 2 in the image).

Excel Project: 1) Use the demand data to develop the APPROXIMATE EOQ

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