Problem 5). Part a). Suppose we would like to own and operate a Motorboat dealership in the coastal region of Melbourne city. We would sell a range of new Motorboats and repair existing boats. (Maximum 1000 words Limit) Define our objectives and develop a business case, Decide where it will be - potential location sites, Decide on type of business - ownership or franchise, and the feasibility of expanding the business to other coastal cities in Australia, - Plan for day to day operations from an ILS perspective, including the ten elements discussed in class. Develop an ILS plan to conduct a Logistics Support Analysis. (5 Points) (Note: No credit will be given if you copy and paste from class lecture notes or other sources. You need to write the answers in your own words). Part b). Suppose the Motorboat dealership in part (a) above dealing in costly motorboats follows the policy of carrying a few units in stock and ordering for replenishment as soon as a motorboat is sold from the stock. The unit cost of the motorboat is $60,000 and the holding or carrying cost is $5,000 per unit per year. The management of Motorboat dealership believe that the shortage cost due to waiting for the motorboat is $2,000 per unit short per month. The demand is seen to be Poisson distributed with an average rate of 2 units per month and the replenishment lead time can be considered to be exponential with a mean of one month. Considering the system as an M/M/s queuing system, find the optimal stock to be carried which can minimize the sum total of carrying and shortage costs. (5 Points) Problem 5). Part a). Suppose we would like to own and operate a Motorboat dealership in the coastal region of Melbourne city. We would sell a range of new Motorboats and repair existing boats. (Maximum 1000 words Limit) Define our objectives and develop a business case, Decide where it will be - potential location sites, Decide on type of business - ownership or franchise, and the feasibility of expanding the business to other coastal cities in Australia, - Plan for day to day operations from an ILS perspective, including the ten elements discussed in class. Develop an ILS plan to conduct a Logistics Support Analysis. (5 Points) (Note: No credit will be given if you copy and paste from class lecture notes or other sources. You need to write the answers in your own words). Part b). Suppose the Motorboat dealership in part (a) above dealing in costly motorboats follows the policy of carrying a few units in stock and ordering for replenishment as soon as a motorboat is sold from the stock. The unit cost of the motorboat is $60,000 and the holding or carrying cost is $5,000 per unit per year. The management of Motorboat dealership believe that the shortage cost due to waiting for the motorboat is $2,000 per unit short per month. The demand is seen to be Poisson distributed with an average rate of 2 units per month and the replenishment lead time can be considered to be exponential with a mean of one month. Considering the system as an M/M/s queuing system, find the optimal stock to be carried which can minimize the sum total of carrying and shortage costs. (5 Points)