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Joe Johnson, the Inventory Manager at Fantastic Furniture, Inc. is responsible for managing the inventory of coffee tables. Joe isn't talkative about his inventory but
Joe Johnson, the Inventory Manager at Fantastic Furniture, Inc. is responsible for managing the inventory of coffee tables. Joe isn't talkative about his inventory but you have managed to extract the following information from him: It costs $ to place an order. Each coffee table costs $ Annual holding costs are of item value. Average daily demand is coffee tables. Standard deviation of daily demand is coffee tables. Lead time to receive a coffee table from a supplier is days. Service level is Fantastic Furniture, Inc. is open days a week. weeks a year. What is the optimum order quantity for ordering tables?
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