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The demand for a particular model of a cellphone at a retail store adheres to the followingdistribution:Demand per day 0 1 2 3 4 5
The demand for a particular model of a cellphone at a retail store adheres to the followingdistribution:Demand per day LeadTime The store orders phones each time to have in stock to meet demand whenever there are units left in stock. They are trying to maintain low inventory levels. The holding cost isRunit The ordering cost is R per order. The lost sale cost is Runit A simulationis to be developed to estimate the average daily inventory cost over days, assumingthere are currently units in inventory.Simulate days of this inventory management situation and calculate the total averagedaily inventory cost. NB: show all the steps.
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