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Your assignment Is to simulate the Slot king level of one product: Cantilever Umbrella, inside an inventory management system In an Australion liini. the firm provides this product to its distributors together with a recommended retail price (RRP). •Tips: the most basic information Inside inventory management system contains at least the recommended retail price (RRP) and quantity of the product. (There are a lot of other fields too, but we have ignored those fields due to complexity)Here is some information regarding this product and its relevant parties: 1. The Australian firm was established in January 111, 2000. For the past 20 years, there have been no changes to the inventory management system. There was also no change in product model in the past 20 years as it is quite robust design, the product model will not change in the future either. On January rt, 2000, when the firm was first open for business, there were 1000 cantilever umbrellas in stock, the distribution number of the cantilever umbrella on that day to the distributors was 36, and each cantilever umbrella’s RRP was $705 AUD (This date has taken the peak season, which causes increase in sales quantity and increase in price, into account, details of peak season is mentioned in part 2). Please note when the inventory stock drops to 400, the firm will restock 600 cantilever umbrellas back to the warehouse (We do not consider any cost related to restocking fee).
Cantilever Umbrella has a peak selling season. It is from lst November to end of February each year (Number of days in February is decided by whether that year is a leap year or not). During the peak season, the company is expected to have a 35% increase in quantity for distribution (Which means the number of cantilever umbrellas that goes out of the inventory system is increased by 35%, rounded up to an integer). It is also expected to have 20% increase in RRP (Recommended Retail Price, contains 2 decimal places, it will be the same for the rest of the document) during peak season as it is hard to supply enough umbrellas to meet the demand.It•It is also expected to have 20% increase in RRP (Recommended Retail Price, contains 2 decimal places, it will be the same for the rest of the document) during peak season as it is hard to supply enough umbrellas to meet the demand., global financial crisis happens every 9 years, and lasts for another 2 years, the year, and 3% the year after to make up the loss. 5% in the next 10% increase in RRP to the product, the increase of the product RRP will become the economy is recovering. add an addi up the losses, during the year that a global financial crisis starts, the company will years when In order to make crisis hit the market, the number will continue to drop by 10% and 5% for the next 2 global finan cantilever umbrella distributed to distributors will drop by 20% in the first year when 3. The stocking system is updated daily at 11:59 pm. This number has been consistent every day until the beginning of a new financial year. At the beginning of the new financial year each year (1st July), the company will impose a 10% increase in the supply of cantilever umbrellas to its distributors (rounded up) and 5% increase of the RRP due to inflation. Based on statistics 4. number of
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