ary Policy. Please determine an optimal inventory policy for TO ameters. Hal inventory policy for following demand and cost One year Planning horizon Expected total annual demand 560,275 Units Fixed ordering cost 700 USD Holding cost 20% of product cost Product cost 20 USD per unit Retail price 38 USD per unit Salvage value 15 USD per unit Lead time (fixed) 3 days 1) What is the optimal order size Q? 2) Assuming the daily demand is constant and known, what is the reorder point? 5) Assuming the daily demand is uncertain with the standard deviation of 200, what is the optimal service level during the lead time? m ation of problem 3, then, what is the optimal reorder point and the safety stock? (note: this problem does not give an arbitrary target service level, you either need to assume your own or need to find out what is the optimal service level that will minimize the total cost) 5) If the planner totally disregards the uncertain nature of the daily demand and do not prepare the safety stock at all, then what will be the service level? 6) During one week in November, due to the shipper's company had a driver work strike, the "used to be very accurate and constant" lead time experienced a delay by additional two days. Of course, the inventory planner did not foresee this. In this case, with the typical safety stock level that is calculated in problem 4, how many percentage points will be dropping in the service level (due to the delay)? (hint: with the increased lead time, what changed?) came up with the total cost minimizing service level based on the cost parameters Jou can lust assign your own arbitrary service level. It won't impact following Preferably. I hope that you can come up with the total cost minimi provided. But if you have no clue, you can just assign your own questions no matter what service level you choose