Q3. Anika is an inventory management specialist working for an automobile parts manufacturing company in Maharashtra....

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Q3. Anika is an inventory management specialist working for an automobile parts manufacturing company in Maharashtra. She was looking through the inventory data of the company of the last two years i.e. July 2020 - July 2022. In the duration July 2020 to March 2021, she observed that the company was following a reorder point policy considering demand uncertainty. This policy was changed to reorder point considering lead time uncertainty after April 2021. She was perplexed initially about such shift in policy but soon realised that it was COVID-19 triggered policy shift. Anika also observed that there was a state-wide total lockdown in Maharashtra during April 2021 to June 2021. She observed a certain data (July 2020- March 2021) available in the documents. Average demand per week of fuel injectors, spark plugs and battery was 1000, 1500 and 150 units respectively. The data was as follows: Parts Fuel Injectors Spark Plugs Battery z-value Std. Deviation of Demand 1.036433 (85%) 25.67 1.281552 (90%) 33.64 1.644854 (95%) 44.56 Lead Time 2 3 2 Anika then looked at another set of data from the documents (April 2021 January 2022). Average lead time for the period for fuel injectors, spark plugs and battery was 2, 3 and 2 weeks respectively. The data was as follows: Std. Deviation of Demand Parts Fuel Injectors Spark Plugs z-value Lead time 1.036433 (85%) 1.1 1000 1.281552 (90%) 1.8 1500 Battery 1.644854 (95%) 1.5 150 After analysing the reorder points for both these data set, what is the percentage change in the reorder point for all the parts? The storage costs for fuel injectors, spark plugs and battery per unit beyond 2000, 4500 & 400 units respectively is 15, 10, 25 respectively per week for the excess items. Was the decision to shift the inventory reorder policy from the month of April 2021 appropriate? Give reason. Was any monetary saving possible for Anika's organization in the above scenario? If yes, how much? (Assume four (4) weeks in a month) Following formulae can be considered while looking at this problem. The symbols have their usual meanings, as discussed in the classroom. ROP=dxLT+zdoTROP=dxLT+zoLT (10M) ROP=dxLT+zLT+ Q3. Anika is an inventory management specialist working for an automobile parts manufacturing company in Maharashtra. She was looking through the inventory data of the company of the last two years i.e. July 2020 - July 2022. In the duration July 2020 to March 2021, she observed that the company was following a reorder point policy considering demand uncertainty. This policy was changed to reorder point considering lead time uncertainty after April 2021. She was perplexed initially about such shift in policy but soon realised that it was COVID-19 triggered policy shift. Anika also observed that there was a state-wide total lockdown in Maharashtra during April 2021 to June 2021. She observed a certain data (July 2020- March 2021) available in the documents. Average demand per week of fuel injectors, spark plugs and battery was 1000, 1500 and 150 units respectively. The data was as follows: Parts Fuel Injectors Spark Plugs Battery z-value Std. Deviation of Demand 1.036433 (85%) 25.67 1.281552 (90%) 33.64 1.644854 (95%) 44.56 Lead Time 2 3 2 Anika then looked at another set of data from the documents (April 2021 January 2022). Average lead time for the period for fuel injectors, spark plugs and battery was 2, 3 and 2 weeks respectively. The data was as follows: Std. Deviation of Demand Parts Fuel Injectors Spark Plugs z-value Lead time 1.036433 (85%) 1.1 1000 1.281552 (90%) 1.8 1500 Battery 1.644854 (95%) 1.5 150 After analysing the reorder points for both these data set, what is the percentage change in the reorder point for all the parts? The storage costs for fuel injectors, spark plugs and battery per unit beyond 2000, 4500 & 400 units respectively is 15, 10, 25 respectively per week for the excess items. Was the decision to shift the inventory reorder policy from the month of April 2021 appropriate? Give reason. Was any monetary saving possible for Anika's organization in the above scenario? If yes, how much? (Assume four (4) weeks in a month) Following formulae can be considered while looking at this problem. The symbols have their usual meanings, as discussed in the classroom. ROP=dxLT+zdoTROP=dxLT+zoLT (10M) ROP=dxLT+zLT+