Evaluate Shuzworld’s reordering practices at the Baltimore store, utilizing a Monte Carlo simulation to evaluate variables that exhibit random (probabilistic) behavior as inputs to a 20-day inventory simulation.
Use the reference materials provided and provide an accurate recommendation of a reorder quantity and a reorder point.
Also provide a logical evaluation, with substantial detail, of Shuzworld’s reordering practices at the Baltimore store, utilizing a Monte Carlo simulation to evaluate variables that exhibit random behavior as inputs to a 20-day inventory simulation.
In the recommendation, please discuss;
average daily loss, Average inventory and daily demands. and for the recommendation, you want to discuss adjusting the reordering time, [Is there a better time or a combination of both of the patterns that already exist]
discussing these should help to finalize the recommendation.
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