3. Assuming a service level of 99% for all parts, what will be the impact on the total inventory investment it the number of warehouses is reduced from 8 warehouses to 2? Reduced to 1? Assume that each of the 8 warehouse has roughly equal demand and, when consolidating the warehouses, the total demand across all 8 warehouses is equally divided between the remaining warehouses. a. Using data from the case and Exhibit 3, complete the table below. Note that Exhibit 3 of the case gives the standard deviation of the biweekly demand per warehouse for 8-, 2-, and 1-warehouse cases respectively. Use these values to calculate the Stdev of weekly demand. (Hint: refer to the solved inventory problems document for additional examples) (2 points) Note: In the table below, you will rst calculate the inventory parameters for 1 warehouse when the company has an 8-warehouse system, a 2-warehouse system, and a 1warehouse system respectively. You will then multiply by the corresponding number of warehouses to get the total inventory for each of the three cases. Product Grifn Beaker Erlenmeyer Flask Z-Va lue - ll of Warehouses Average Weekly Demand Stdev of Weekly Dema nd POU (weeks) Calculations for 1 warehouse Average Pipeline Inventory Begin on hand on L0 Average On Hand Average Inventory for 1 Warehouse Total Average Inventory (all warehouses) b. Calculate the percentage savings in total average Inventory investment from warehouse consolidation for each product. Assume lead time stays constant at 1 week