Project 1 for someone good in Stochastic Inventory Management – 10 pages – Due Sunday 6pm
Native English speakers please, GOOD QUALITY ONLY ACCEPTED We need to come up with our own virtual company. The company can sell anything and we have to use pictures “Malek4” and “Malek5” as an example to set up our own table with our 12 products and their “sales price, purchase cost, salvage value, the cost of lost sale, expedited delivery cost, max. exp-delivery cost, min order quantity, penalty cost”. We then need to write a paper that includes our own budget and make sure that the budget “cannot accommodate all of the items” so we then have to decide which products to order and how much of each and from which suppliers in order to maximize the profit with our limiting budget. As I said the company can sell anything but the products need to depreciate over time because that is a big determinant when deciding which products to order because some can be used longer than others and have a longer shelf-life. Also, when deciding suppliers we want to choose the ones that can sell us more than one product so we can get better prices when ordering more from them. I hope you get the logic behind this. The last picture has the questions that need to be answered in the paper.So I need a 10 page paper plus one page with the table for our own imaginary company that the paper is going to be based on.
