NEWFOUNDLAND, July$/02-$ July$/131)$ Sunday $2-$ Mon $3$: Flight AC$1546$ to Deer Lake, Corner Brook. Hotel$-1$: Quality Inn$-$ Two nights Scenic Drive to Lark Harbour. Drive to Port Au Port. Humber River Valley $($Appalachians$)2)$ Tuesday $4-$ Wed $5$: Viking Trail. Hotel$-2$: Plum Point Motel$-$ Two nights Tuesday: Drive to Plum point: Crossing Gros Morne National Park, Visit the Arches, Hawke Bay, Port Au Choix.Wednesday: Drive to Cooks Harbour, L'Anse$-$Aux$-$Meadows, St$.$ Anthony$\mathrm{.}3)$ Thursday $6-$ Labrador. Hotel$-3$: Blanc$-$Sablon Labrador$-$ One nightTaking the Ferry from St$.$ Barbe. Point Armour Lighthouse, Red Bay whaling station$\mathrm{.}4)$ Friday $7-$ Saturday $8$: Gros Morne National Park. Hotel$-4$: Bambury's Hillside Chalets$-$ Two nights Friday: Travelling around Rocky Harbour.Saturday: Fjord cruise on Western Brook Pond. Night: Theatre$\mathrm{.}5)$ Sunday $9-$ Monday $10$: Gander. Hotel$-5$: Quality Hotel & Suites$-$ Two nightsTerra Nova National Part, Trinity, Bona Vista, Boreal Forest, Twillingate, Notre Dame, Fogo Island$6)$ Tuesday $11-$ Wednesday $12$: St$.$ John. Hotel$-6$: Capital Hotel$-$ Two nightsCity tours: Cabot Tower, Signal Hill, Murray Premises, East End, Museum, The Battery, Waterfront.Out of city tours: Cape Spear lighthouse, Pippy Park, Quidi Vidi Village, Avalon Peninsula$7)$ Thursday $13-$ Flight back. AC$699$

Apex Inc. sells $7000$ units per year $($Constant and known demand$).$ The cost of a unit is $$500$ and the annual holding cost is $20\%$ of the unit cost. Admin$/$paper$/$communication and other costs, required to execute an order are $$60$ per order.

$(15$ marks$)$

a$)$ How many units $?)$ should Apex order at a time? $(3$ marks$)$

b$)$ How many times per year should the company order? $(1$ mark$)$

NEWFOUNDLAND$-$Iti

c$)$ What is the demand of units per day $($There are $250$ days$/$year$)?(1$ mark$)$ nerary.docx

d$)$ If the lead time for units from the supplier is $2$ days, what is the re$-$order point? $(2$ marks$)$

e$)$ Calculate the total yearly cost of:

$(6$ marks$)$

Holding Cost,

Ordering Cost

Total Cost of inventory

Economic Order Quantity $=Q=Q=\sqrt[\phantom{2}]{2D\frac{S}{H}}$

$D=$ Demand per year

$S=$ Setup $($order$)$ cost per order

$H=$ Holding $($carrying$)$ cost $/$unit$/$year

f$)$ Based on the information in the table, answer the following question: $(2$ marks$)$

If you use a re$-$order point of $80$ units, what is your probability for a stock$-$out?

$\backslash$table$[[\backslash$table$[[$Demand during$],[$lead time$]],$Probability,$\backslash$table$[[$Demand during$],[$lead time$]],$Probability$],[50,10\%,80,20\%$