A Cake company uses 4,629 quart bottles of Chocolate sauce each year. The sauce costs 5 per bottleand is served only in full bottles for food safety purposes. The company's inventory managercalculated that each time an order is placed, it costs 13 and holding costs are 20 percent of thepurchase price. Once the order is placed, it takes 3 weeks for an order to arrive. The company worksfor 47 weeks per year. The company is considering to use the inventory system techniques whichminimizes the inventory cost.Assume that both, lead time and customer demand are variable. Customer demand's standarddeviation 27 units per week and standard deviation for lead time = 1. Find out the safety stockneeded to achieve 95% customer service level.=

Given data Annual demand D =4629 quart bottles Ordering cost S =13 Unit cost C =5 Holding cost…

Answered: Cake company uses 4,629 quart bottles…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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