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Question 1 7 pts Joe Johnson, the Inventory Manager at Fantastic Furniture, Inc. is responsible for managing the inventory of coffee tables. Joe isn't
Question 1 7 pts 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 $50 to place an order. Each coffee table costs $175.00. Annual holding costs are 25% of item value. Average daily demand is 43 coffee tables. Standard deviation of daily demand is 7 coffee tables. Lead time to receive a coffee table from a supplier is 4 days. Service level is 90%. Fantastic Furniture, Inc. is open 5 days a week, 52 weeks a year. What is the optimum order quantity for ordering tables?
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