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2. After building a scientific way for demand forecasting, Mary hoped Jason can propose the optimal...

2. After building a scientific way for demand forecasting, Mary hoped Jason can propose the optimal inventory/ordering policies for these 4 products for the first week of 2018. The sale price/unit for each product is listed below:

Product A =$230 Product B=$50 Product C=$5 Product D=$3

Jason decided to use ABC rule to classify these 4 products. ‘A’ category product(s) will have the target service level 95%. ‘B’ product(s) will have the target service level 90% and ‘C’ products(s) will have the target service level 85%. After setting the appropriate service level, Jason will use the service level information to calculate the safety stock level for each product. How should Jason classify the ABC products? After classifying these 4 products, Jason wanted to use the ROP model for inventory/ordering management. He believed he would get an accurate demand forecasting for the first week of 2018. But based on the historical data, he found the lead time of orders has variation for all these 4 products. Which ROP model should Jason implement? What are the reorder points for each of these 4 products for the first week of 2018?

Below is the sales of each product of 2017
Week 2017 Product A Product B Product C Product D
1 31 54 250 200
2 32 51 250 199
3 32 55 246 206
4 32 55 247 198
5 34 54 246 199
6 37 56 255 208
7 34 56 246 199
8 38 56 247 201
9 39 52 245 203
10 43 56 246 202
11 42 56 239 203
12 44 55 239 203
13 45 62 245 200
14 46 52 237 203
15 45 57 240 205
16 49 52 244 203
17 47 65 238 203
18 47 56 243 205
19 49 62 239 203
20 49 55 236 204
21 48 57 242 205
22 54 66 236 202
23 53 68 237 203
24 54 58 236 210
25 55 67 236 203
26 57 64 229 210
27 58 64 237 206
28 61 66 234 206
29 61 62 235 208
30 59 64 231 205
31 58 65 230 209
32 64 62 229 202
33 55 70 228 206
34 63 67 225 207
35 57 71 230 209
36 67 68 228 209
37 70 70 228 203
38 64 63 227 208
39 70 69 228 206
40 66 71 224 204
41 74 67 225 211
42 70 73 224 211
43 75 68 223 205
44 74 76 214 205
45 79 75 223 208
46 77 75 221 210
47 75 72 223 211
48 72 72 221 209
49 76 78 220 210
50 83 78 223 215
51 83 79 220 209
52 77 75 215 211
Order Received Date
Week Date of Placing Order Product A Product B Product C Product D
1 1/2/2017 1/5/17 1/5/17 1/4/17 1/4/17
2 1/9/2017 1/15/17 1/11/17 1/11/17 1/11/17
3 1/16/2017 1/17/17 1/19/17 1/16/17 1/16/17
4 1/23/2017 1/25/17 1/25/17 1/24/17 1/24/17
5 1/30/2017 2/5/17 2/2/17 1/30/17 1/30/17
6 2/6/2017 2/11/17 2/10/17 2/8/17 2/8/17
7 2/13/2017 2/17/17 2/17/17 2/13/17 2/13/17
8 2/20/2017 2/25/17 2/23/17 2/23/17 2/23/17
9 2/27/2017 3/3/17 3/1/17 2/28/17 2/28/17
10 3/6/2017 3/11/17 3/9/17 3/8/17 3/8/17
11 3/13/2017 3/16/17 3/15/17 3/15/17 3/15/17
12 3/20/2017 3/26/17 3/23/17 3/21/17 3/21/17
13 3/27/2017 4/2/17 3/30/17 3/28/17 3/28/17
14 4/3/2017 4/8/17 4/5/17 4/4/17 4/4/17
15 4/10/2017 4/15/17 4/13/17 4/11/17 4/11/17
16 4/17/2017 4/22/17 4/20/17 4/17/17 4/17/17
17 4/24/2017 4/27/17 4/26/17 4/25/17 4/25/17
18 5/1/2017 5/5/17 5/3/17 5/3/17 5/3/17
19 5/8/2017 5/11/17 5/13/17 5/8/17 5/8/17
20 5/15/2017 5/19/17 5/18/17 5/15/17 5/15/17
21 5/22/2017 5/28/17 5/27/17 5/24/17 5/24/17
22 5/29/2017 6/1/17 5/31/17 6/1/17 6/1/17
23 6/5/2017 6/11/17 6/9/17 6/6/17 6/6/17
24 6/12/2017 6/17/17 6/16/17 6/13/17 6/13/17
25 6/19/2017 6/23/17 6/21/17 6/21/17 6/21/17
26 6/26/2017 7/1/17 6/30/17 6/27/17 6/27/17
27 7/3/2017 7/10/17 7/5/17 7/3/17 7/3/17
28 7/10/2017 7/13/17 7/11/17 7/12/17 7/12/17
29 7/17/2017 7/19/17 7/19/17 7/18/17 7/18/17
30 7/24/2017 7/27/17 7/26/17 7/25/17 7/25/17
31 7/31/2017 8/8/17 8/2/17 8/2/17 8/2/17
32 8/7/2017 8/13/17 8/10/17 8/9/17 8/9/17
33 8/14/2017 8/17/17 8/16/17 8/15/17 8/15/17
34 8/21/2017 8/26/17 8/23/17 8/23/17 8/23/17
35 8/28/2017 9/4/17 9/1/17 8/30/17 8/30/17
36 9/4/2017 9/9/17 9/8/17 9/5/17 9/5/17
37 9/11/2017 9/18/17 9/14/17 9/12/17 9/12/17
38 9/18/2017 9/23/17 9/20/17 9/19/17 9/19/17
39 9/25/2017 9/28/17 9/29/17 9/26/17 9/26/17
40 10/2/2017 10/8/17 10/5/17 10/2/17 10/2/17
41 10/9/2017 10/12/17 10/13/17 10/11/17 10/11/17
42 10/16/2017 10/22/17 10/17/17 10/18/17 10/18/17
43 10/23/2017 10/25/17 10/25/17 10/23/17 10/23/17
44 10/30/2017 11/4/17 11/2/17 10/30/17 10/30/17
45 11/6/2017 11/7/17 11/8/17 11/6/17 11/6/17
46 11/13/2017 11/19/17 11/15/17 11/15/17 11/15/17
47 11/20/2017 11/20/17 11/23/17 11/21/17 11/21/17
48 11/27/2017 12/1/17 11/29/17 11/29/17 11/29/17
49 12/4/2017 12/9/17 12/7/17 12/5/17 12/5/17
50 12/11/2017 12/13/17 12/13/17 12/12/17 12/12/17
51 12/18/2017 12/23/17 12/21/17 12/19/17 12/19/17
52 12/25/2017 12/28/17 12/29/17 12/27/17 12/27/17
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