Question: Please help with this Question 1. Solve the following problem inventory problem using simulation approach. A supermarket sells a specic brand mobile and earns a
Please help with this

Question 1. Solve the following problem inventory problem using simulation approach. A supermarket sells a specic brand mobile and earns a revenue of AED 500 per mobile. It incurs a holding cost of AED30 per mobile per month if a stocked mobile is not sold. Holding cost is a portion of rent, insurance, and others. If there is a shortage, the market assigns a good will cost of AED40 a mobile. The store has a stocking policy of 210 mobiles a month. The demand for mobile is normally distributed with a mean of 200 and standard deviation of 20. -I-I-IIEI-I-I "Hum lumbers a) Using the given random numbers and other parameters, simulate the operation for 13 months and provide your simulation output below. (Also upload your excel le) b) What is the net prot of the supermarket? (average monthly prot) 0) What is the standard deviation (sample) of the prot? (1) What is the service level? 6) Does the service level acceptable to the supermarket? If yeso, explain why? Why not? i) If the supermarket wants to achieve, a service level of 95%, how many mobiles the company should stock every month? (Hints: use goal-seek). g) If the supermarket aims a prot of 110,000, What price supermarket should charge to achieve this prot
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
