Question: You may need to use the appropriate technology to answer this question. A cell phone manufacturer is preparing its inventory and production schedule. A key

You may need to use the appropriate technology to answer this question.
A cell phone manufacturer is preparing its inventory and production schedule. A key element is installing a SIM card into each phone. Demand has been averaging 217 cards per week. Holding costs are $0.03 per card per week, and reorder costs are estimated at $14 per order.
The manufacturer does not want to be out of stock on more than 1% of their orders. There is a one-day delivery time. The standard deviation of demand is five cards per day. Assume a normal distribution of demand during lead time and a seven-day work week. What is the total variable weekly cost including safety stock cost?

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