Question: Scenario - Optimizing Flour Orders for a Bakery: Imagine you are the manager of a small bakery with a weekly flour consumption of 210 pounds.

Scenario - Optimizing Flour Orders for a Bakery: Imagine you are the manager of a small bakery with a weekly flour consumption of 210 pounds. Your flour supplier charges a fixed order fee of $35, and the cost of flour is $1.30 per pound. Incorporate an annual holding cost of 25%. Explain how you would determine the optimal quantity of flour to purchase when placing an order. Discuss the specific formulas, tools, and technology you would employ to optimize inventory and order quantities

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