Question: Problem 6 (10 points) Conduct a similar analysis to quick response analysis we conducted in Session 2. The assumptions we made for the following problem

Problem 6 (10 points) Conduct a similar analysis to quick response

Problem 6 (10 points) Conduct a similar analysis to quick response analysis we conducted in Session 2. The assumptions we made for the following problem were: Before the selling season starts, the firm has a forecast for the weekly demand. Firm learns about the true demand at the end of Period 1 and the demand realized in Period 1 remains the same constant) until the end of the selling season. The product is non-perishable and unsatisfied demand is lost. Parameters Selling price (p) Salvage value (s) Selling season in weeks (T) Forecasted weekly demand (F) Manufacturing cost (c) Production lead time in weeks (L) 10 2 3 15 5 8 True weekly demand 20 Time Quantity Quantity On-hand period ordered received inventory (start) Demand On-hand inventory (end) Sales 1 2 TOTAL Leftover inventory Lost sales Total Revenue Total cost Total salvage Total profit Answer: Problem 6 (10 points) Conduct a similar analysis to quick response analysis we conducted in Session 2. The assumptions we made for the following problem were: Before the selling season starts, the firm has a forecast for the weekly demand. Firm learns about the true demand at the end of Period 1 and the demand realized in Period 1 remains the same constant) until the end of the selling season. The product is non-perishable and unsatisfied demand is lost. Parameters Selling price (p) Salvage value (s) Selling season in weeks (T) Forecasted weekly demand (F) Manufacturing cost (c) Production lead time in weeks (L) 10 2 3 15 5 8 True weekly demand 20 Time Quantity Quantity On-hand period ordered received inventory (start) Demand On-hand inventory (end) Sales 1 2 TOTAL Leftover inventory Lost sales Total Revenue Total cost Total salvage Total profit

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