A) Review exiting my report “Intelligent Microwaves Inc Optimization Case (file attached))” and ensure that the report meets the rubric shown in the “Microwave Inventory Case Description (file attached))” rubric shown below.
B) On the report ensure the following: For items 2 to 4 use the Analysis Tab from the spread sheet (file attached).
- 1. Using the Current Model from the spread sheet (Intelligent Microwaves Inc Optimization) Provide a description that IMI are providing consistent service levels even though the average is 98%.
- 2. On the Economic Order Quantity (EOQ) and Reorder Point (ROP) section, explain how and why: EOQ balances order cost and holding cost to calculate the parameters that will meet customer service needs at minimal cost.
- 3. Risk Pooling section explain why and how: risk pooling and the need for safety stock because the pool variances for individual models.
- 4. Extra Section: Experiment the single model and determine whether changing any parameters such as hiding unit from an order cost might impact total cost and then make a specific recommendation. Also provide theoretical ideas. Used column K from the Analysis tab spread sheet to change parameters.
- 5. Provide charts and graphs for the analysis. Summarize the cost in a chart and graph the cost savings that present the results in an insightful manner. Provide the meaning behind the numbers. Used column K from the Analysis tab spread sheet to change parameters and to compare graphs and charts. Graphs shall represent the EOQ process, reorder point process and forecast method. Graphs shall provide difference between current method vs recommended method.
- 6. Finally, on the Executive summary section: discuss overall processes and mention single model as well as other ideas for savings and provide a total potential benefits number, provide numbers.
- 7. Rewrote the conclusion part to update the information.