Given the following information perform the relevant calculations.

Shared Info

We want to have a $95\%$ chance of avoiding stockouts.

Demand averages $3600$ units per year with a daily standard deviation of $6$ units per day. Years are $365$ days long.

Once ordered it will take $7$ days to receive the items.

Each time we place an order we incur a cost of $$5.$ Annual holding costs are $$4$ per unit annually.

Part A:

$1.$ Calculate the economic order quantity.

$2.$ Calculate the reorder point.

$3.$ How many orders will you place this year?

$4.$ What would you expect the total order cost to be$?$

Additional Information for Part B $($In addition to above info$)$

Instead of regularly ordering the same amount we've decided to place one order every $2$ weeks. Assume that at the time of the next order we have $30$ units on hand.

$1.$ Calculate the target inventory

$2.$ Calculate how many units should be ordered.

$($You may find that adding additional cells is useful in your calculations.$)$