LT2_team_questionnaire_TEAMH_ISDS3115

LT2_team_questionnaire_TEAMH_ISDS3115 - ISDS 3115...

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Littlefield Inventory Game Quiz Team Name:______________TeamH_______________ Team Member Full Names: Jana Benson Daniela Dieck Mitchell Meredith Joshua Solite Forecasting and Inventory Management at Littlefield Technologies Assume that the graph above shows several days of the inventory game. 1. What is the order quantity? a. 2000 c. 6000 b. 5000 d. 7500 2. Are there stock outs? a. Yes b. No 3. The last decline of the line in the graph, illustrates that a. Lead time changed b. Daily demand declined c. The order quantity changed 4. In detail, describe and illustrate how you estimated the annual demand? In the Littlefield Technologies simulation, it was necessary to estimate annual demand in order to determine the proper reorder point and economic order quantity in order to better manage our inventory. We calculated the annual demand by multiplying the average daily demand by the number of days in the year, 365. To support our calculations, the average daily demand calculations are displayed in exhibit B of our excel appendices. The calculation for our annual demand is displayed in the formula below:
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LT2_team_questionnaire_TEAMH_ISDS3115 - ISDS 3115...

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