please do not give solution in image format thanku To simulate inventory management for a particular product, assume that the per perioddemand is an integer value quantity which follows the normal distribution with mean andstandard deviation 50 and 15, respectively.If the demand exceeds the starting inventory, then the ending inventory would be zero, thatis, the "extra" demand is lost. Therefore, the ending inventory level is never negative.Ordering will take place at the end of the period, based on the ending inventory, and theorder arrives at the beginning of the next period.The ordering policy is to order 80 units (order quantity is equal to 80 units) when the endinginventory is less than or equal to 30 units (reorder point is 30 units).The cost of placing each inventory order is fixed at $250, and this value does not depend onthe quantity ordered. The cost of holding inventory for each period is $5 per unit (holdingcost is $5/unit-period). The per period inventory holding cost is computed based on theend of period inventory level.The starting inventory for each period, after the first period, is the ending inventory plus anyorder quantity from the period before.1 Inventory Problem234567891011A12131415161718Mean DemandDemand Std DevOrder QuantityReorder PointPeriod123456750158030BO More than $17,000Starting Inv Demand*******O Less than $11,000101102O $13,000 and $15,000106O $11,000 and $13,000O $15,000 and $17,000unitsunitsunitsunitsс**$*85*DEnding Inv2166222643052ETotal Inv CostOrder CostHolding CostOrder Qty80080800800F$250$5Order + Inv Cost$355$330$360$380Suppose all formulas are correctlyentered. The simulation is run for 52 periods. The totalordering and inventory holding cost (cell F3) over the entire 52 periods is most oftenbetween:$215$250$260Gper orderper unit-periodH

Running Simulation for 52 weeks we get Mean Demand 50 Demand Std dev…

Answered: inventory management for a particular…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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