Given the following information, formulate an inventory management system. The item is demanded $50$ weeks a year.

a$.$ Determine the order quantity and reorder point.

Note: Use Excel's NORM.S$.$INV$()$ function to find the $z$ value. Round $z$ value to $2$ decimal places and final answer to the nearest

whole number.

Optimal order quantity

b$.$ Determine the annual holding and order costs.

Note: Round intermediate calculations to $2$ decimal places. Round your answers to $2$ decimal places.

c$.$ Assume a price break of $$50$ per order was offered for purchase quantities of $2,000$ or more units per order. If you took advantage

of this price break, how much would you save annually?

Note: Do not round intermediate calculations. Round your answer to $2$ decimal places.

Annual savings

Given the following information, formulate an inventory management system. The item is demanded $50$ weeks a year.

a$.$ Determine the order quantity and reorder point.

Note: Use Excel's NORM.S$.$INV$()$ function to find the $z$ value. Round $z$ value to $2$ decimal places and final answer to the nearest

whole number.

b$.$ Determine the annual holding and order costs.

Note: Round intermediate calculations to $2$ decimal places. Round your answers to $2$ decimal places.