Question: Same problem statement: Weekly demand for the latest TV set at a retailer is normally distributed with a mean of 600 TVs and a standard
Same problem statement: Weekly demand for the latest TV set at a retailer is normally distributed with a mean of 600 TVs and a standard deviation of 150. Currently, the store places orders to the supplier with a reorder point of 1,500 Tvs. Replenishment lead time is 2 weeks, fixed order cost per order is $200, each TV the retailer $300, and the inventory holding cost is 25% per year. Given the problem parameters, what is the optimal order quantity the retailer should order, assuming the store is open 52 weeks/year (whole number with no decimals)? Same problem statement: Weekly demand for the latest TV set at a retailer is normally distributed with a mean of 600 TVs and a standard deviation of 150. Currently, the store places orders to the supplier with a reorder point of 1,500 Tvs. Replenishment lead time is 2 weeks, fixed order cost per order is $200, each TV the retailer $300, and the inventory holding cost is 25% per year. Given the problem parameters, what is the optimal order quantity the retailer should order, assuming the store is open 52 weeks/year (whole number with no decimals)
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