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Inventory Management The Red Maple Restaurant is famous for a particular ice wine and receives its wine directly from Canada. The restaurant sells 18,000
Inventory Management The Red Maple Restaurant is famous for a particular ice wine and receives its wine directly from Canada. The restaurant sells 18,000 bottles a year. The cost to place an order to replenish inventory is $5.00 per order and annual inventory holding cost is equal to $0.50 per bottle. The lead time is 8 days and the restaurant is open 360 days a year. 1. What is the optimal order size? [Select] 2. What is the optimal number of orders per year? [Select] 3. What is the optimal number of days between orders? [Select] 4. What is the reorder point? [Select]
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