Question: Question 15 0 / 1 pts To simulate the inventory management of a particular product, the demand is assumed to be between 10 and 50

Question 15 0 / 1 pts To simulate the inventory

Question 15 0 / 1 pts To simulate the inventory management of a particular product, the demand is assumed to be between 10 and 50 units with probabilities as shown in cells B4 through B8 below. The policy is to order 40 units when the inventory level drops below the reorder point of 15 units at the start of a period. Suppose that inventory orders arrive immediately, and that negative inventory levels are allowed. This simulation takes place over 40 weeks. B D E F G H Data Table 7 X 1 Total Iny Cost $3,200 t Probability 0.20 0.25 0.30 0.15 0.10 F Bow input 0. o Column input cell 0. . OK 0.1 1.00 0.90 Data Table for Cost Total Cost Sim $3,200 1 2 3 A 1 Inventory Simulation 2 3 Demand 4 10 5 20 6 6 30 7 40 8 50 9 units 10 11 Order Quantity 12 Reorder Point 13 14 Period 15 1 16 2 17 3 3 18 Cancel 50 units 4 40 units 15 units Holding Cost Shortage Cost $5 per week $10 per week 5 5 6 7 8 9 10 11 12 13 14 Starting in 30 0 10 20 Demand 30 30 30 10 Order Qty 0 40 40 0 Ending Inv 0 10 20 10 Inw Cost $o $50 $100 SSO There is a holding cost of $5 per unit-week and a shortage cost of $10 per unit-week. These costs are computed based on the ending inventory. The total inventory cost has been computed for the forty-week simulation. In setting up the data table (in cells 14 to J104) representing the total costs for 100 repetitions of this forty-week simulation, what the next step at this point? Add cell B11 to the column input cell. Add cell B12 to the row input cell. Add any blank cell to the column input cell. Add any blank cell to the row input cell. Exactly two of the answers are correct. None of the answers are correct

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!