The Grommet is manufactured in Thailand. Orders take 30 days to arrive via sea freight. With the costs of communications, customs, and freight, each order placed incurs an expenditure of $935. Once the boards arrive at the warehouse, the inventory carrying cost is 15% per year/per unit of the COGS Based on the information provided in this case study, you will create a 2021 inventory plan for Surf Shaper. Using the spreadsheet provided and the formulas you learned and practiced last week
1. Create a Sales Forecast showing a 15% increase in sales over 2020
2. Using your 2021 Sales Forecast, determine the amount of Safety Stock Surf Shapers should keep on hand to meet their service level goal.
3. Utilizing the EOQ method, identify:
a. The optimal order quantity (0)
b. The number of orders to be completed
c. The Re-Order Point
d. Total ordering cost