Your firm uses a periodic review system for all SKUs_ classified, using ABC_ analysis, as B…

Your firm uses a periodic review system for all SKUs_
classified, using ABC_ analysis, as B or C items._ Further, it uses
a continuous review system for all SKUs classified as A items. The
demand for a specific_ SKU, currently classified as an A_ item, has
been dropping. You have been asked to evaluate the impact of moving
the item from continuous review to periodic review. Assume your
firm operates 52 weeks per_ year; the_ item’s current
characteristics_ are:
Demand
_(D)equals=13,520 _units/year
Ordering cost (S)equals=_135.00_/order
Holding cost _(H)equals=_$3.50/unit/year
Lead time _(L)equals=7 weeks
_Cycle-service level equals=97_%
Demand is normally_ distributed, with a standard deviation of
weekly demand of
67 units.
a. Calculate the_ item’s EOQ.
EOQ equals= 1021 units. _(Enter your response rounded to the
nearest whole_ number.)
b. Use the EOQ to define the parameters of an appropriate
continuous review and periodic review system for this item. Refer
to the standard normal table
Under a continuous review_ system, order 1021 units whenever the
inventory level drops to 2153 units. _(Enter your responses rounded
to the nearest whole_ number.)
Under a periodic review_ system, order up to_____ units
every _____weeks. _(Enter your responses rounded to the nearest
whole_ number.)

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