Question: Problem 3: (10 pts > 6+4) A supermarket uses a supplier in Sharjah for its bottled water. The annual demand for this product is 24,000

Problem 3: (10 pts > 6+4) A supermarket uses a supplier in Sharjah for its bottled water. The annual demand for this product is 24,000 units. This supermarket purchases bottled water from its supplier at a price of 0.78 Dirhams per bottle. The inventory holding cost per bottle of water per year is 0.44 Dirhams. The ordering cost is 18 Dirhams per order, and the lead time is 4 days. The company operates 248 days a year. The supermarket uses the basic EOQ model to manage its inventories. P.3.A. What is the inventory cycle time (time between orders)? Show in detail ALL your steps and calculations to reach your answer (that is: Q", N, and T). P.3.B. What is the re-order point (ROP) for the supermarket? Show all the details and steps of your calculations

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