Question: Please use the data to answer these 2 questions: 1. The supplier will offer a discount of 10% if you order 1,000 bags of barley

Please use the data to answer these 2 questions:

1. The supplier will offer a discount of 10% if you order 1,000 bags of barley per order. What is the TAIC (total annual inventory cost) if you order 1,000 bags per order? * Round to the nearest whole number.

2. What is the safety stock required to maintain a 99% service level? *Round to the nearest whole number.

per order Order Cost Holding Cost Average Lead Time Standard Deviation of Lead Time Value of Bag of Barley Assume 300 Operating Days Per Year $18 20% 5 0.3 $11 of item value days days Average daily demand of barley Average demand during lead time 30.92222222 =AVERAGE(B2:B91) 154.6111111 =E3*D9

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