Question: Please don't copy and paste from another answer An online retailer sells smart phones and adopts a fixed-order-quantity inventory control system (FQS) with average and

Please don't copy and paste from another answer
An online retailer sells smart phones and adopts a fixed-order-quantity inventory control system (FQS) with average and current information presented in the table below. Average weekly demand 240 phones Average lead time 16 days Average order cost $1800 per order Average unit cost $350 per phone Annual inventory holding cost 30% for a year Number of operating weeks per year 51 weeks Number of operating days per week 7 days Standard deviation of weekly demand 18 phones per week or 18/17 per day Desired service level with safety stock 85% Current on-hand inventory 679 phones Current scheduled receipts O phones Current backorders 26 phones You would need to show equations, steps, and the final results with units for full credits. Time units should be carefully treated. Final quantities should be rounded up to whole numbers. (a)[6] What is the Economic Order Quantity Q* (EOQ)? (Rounded up to a whole number) (b)[2] What is the current inventory position (IP) in phones? (c)[5] What is the reorder point with safety stock R(ST) in phones (rounded up)? Sketch the relevant demand distribution with necessary details and show the service level. (d)[1] Explain if the company would make an order today. If Yes, of how many phones? (e)[1] Draw a diagram to illustrate how the remaining stock moves over time. Include necessary details like the reorder point, lead time, when to make an order, etcStep by Step Solution
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