Question: Problem 1 ( 1 5 points ) . Product # 1 2 3 4 5 has an EOQ of 3 0 0 units. The annual

Problem 1(15 points). Product #12345 has an EOQ of 300 units. The annual consumption is 10,000 units. The desired probability of stocking out is 7%. From statistical analysis of this product, the standard deviation of demand during lead time L=300 units, and the manufacturing lead time is 10 days.
a.(5 points). Determine the safety stock needed
b.(5 points). Determine the reorder point. Assume that demand is over a 275-workday year.
c.(5 points). How many units need to be ordered when stock on hand gets down the reorder point?
Problem 1(15 points). Product #12345 has an EOQ of 300 units.

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