Marriel has been having some problems with inventory. She was running out of some items regularity and seems to have too many of other items, Her first step is to revise how many to order at tone time. The following conditions exist for all of the items:

1. demand is stable
2. price is fixed
3. lead-time is stable
4. she plans to use both items well into the future.
5. she can purchase any order quantiy you might suggest

The cost of an order is unknown, but Mariel has suggested that you estimate it by considering that it takes her approximately one hour of time to order, receive and pay for an order. She estimates her time is worth $125 per hour. The inventory carrying cost factor for all items is 15%.

Build a simple EOQ model to answer her qeustion based on the item number. Put the item number as an input and then select the annual volume and cost per unit from the table below using Excel's vlookup function. In doing so, the output of the EOQ model with change with the item number. All you then need to do is set up a that substitutes the various item numbers into the model and returns the name of each item and its EOQ. Demonstrations will be posted on Angel to show how this can be done.

Item Number	Item Name	Annual Volume	Cost per Units
1	Lions in the Limelight	117	$200
2	JoePa Triumph	682	$250
3	JoePa Thoughtful	1000	$50
4	Linebacker U	318	$100
5	The Corner	881	$200
6	Cram Time	945	$150
7	Old Main in Spring	868	$200
8	Old Main in Winter	260	$100
9	PSU Forever	1008	$100
10	National Champs:Volleyball	135	$250
11	Final Four: Womens	843	$250
12	Sweet Sixteen:Mens	28	$150
13	The Pres	202	$50
14	Beaver Canyon	1005	$200
15	Arts Fest 1999	151	$150
16	Lion in the Winter	470	$250
17	Springtime for Lions	984	$250
18	Peachy Paterno	55	$200
19	We are Penn State	332	$150
20	The Phyrst Family	635	$50