Question: Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year: Q. Determine the order quantity and reorder point.

is demanded 50 weeks a year: Q. Determine the order quantity and

Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year: Q. Determine the order quantity and reorder point. (Use Excel's NORMSINV() function to find your z-value and then round that zvolue to 2 decimal ploces. Do not round any other intermediate calculations. Round your final answers to the nearest whole number.) b. Determibe the annual holding and order costs. (Do not round ony intermediate calculations. Round your final onswers to 2 decimal places.) c. Assume a price break of $55 per order was offered for purchase quantities of 2.500 units per order. If you took advantage of this price break, how much would you save annually? (Do not round any intermediote calculations (including number of setups per year). Rourid your finol onswer to 2 decimal places.)

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