Question: Simkin's Hardware Store in Canmore, Alberta, sells the Ace model electric drill. Daily demand for this particular product is relatively low but subject to some

Simkin's Hardware Store in Canmore, Alberta,

Simkin's Hardware Store in Canmore, Alberta, sells the Ace model electric drill. Daily demand for this particular product is relatively low but subject to some variability. E Click the icon to view the additional data. Simkin's Hardware simulated an inventory-ordering policy for Ace electric drills that involved an order quantity of 10 drills, with a reorder point of five. The brief simulation resulted in a total daily inventory cost of $6.65. Simkin would now like to compare this strategy to one in which he orders 11 drills, with a reorder point of eight. What are the results of a new strategy when simulated over the next ten days? Assume that the initial beginning inventory is 12 drills. Use the following random numbers for demand: 25, 17, 48, 93, 79, 36, 58, 03, 81, 69. Use the following random numbers for lead time: 07, 18, 20, 37, 93, 45, 66, 74, 29, 11. Fill in the table below (enter your responses as whole numbers.) Day Begin. Inv. RN Demand Sold End. Inv. . Lost Sales Place Order RN Lead Time 1 12 25 2 ] 17 7 3 48 7 4 93 5 79 6 36 7 58 7 8 03 7 NOT 9 81 1 10 69 Find the average ending inventory, average number of lost sales and average number of orders placed for obtained simulation. The average ending inventory is (Enter your response rounded to two decimal places.) 20 The average number of lost sales is (Enter your response rounded to two decimal places.)

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