Using the same information as In Problem develop the best

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Using the same information as In Problem, develop the best policies for a periodic review system. A company begins a review of ordering policies [or its continuous review system by checking the current policies for a sample of SKUs. Following are the characteristics of one item. Demand (D) =64 units/week (Assume 52 weeks per year) Ordering and setup cost IS) = $50/order Holding cost (11) = $13/unit/year Lead time (L) = 2 weeks Standard deviation of uvsk1y demand 12 units Cycle-service level = 88 percent a. What value of P gives the same approximate number of orders per year as the EOQ? Round to the nearest week b. What safety stock and target inventory level provide an 88 percent cycle-service level?

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