You are a retailer. You buy a product at $3.00 from a supplier and sell it for $5.0. It costs the supplier $2.00. Unsold items can be marked down and sold for $1.50. Demand is normally distributed between with mean 200 and standard deviation 40.

Newsvendor Quantity:How many units should you stock? Why?How would the quantity stocked change if demand is discrete uniformly distributed between 100 and 300.

Newsvendor with Supplier and Retailer: How would the number of units stocked change if you look at the quantity decision from the perspective of the supply chain consisting of the supplier + retailer? Would the chain’s expected profit increase or decrease relative to the quantity choice in part 1above? Explain the logic behind your answers.

It must completely outline the “5 Ws” of your project. It is a high level description to define your project that must incorporate course concepts learned to date and that must cover all of the following areas: Background – Project purpose; Problem/Opportunity – Exactly why are you undertaking this project? Goals – What are you going to achieve, and when? Your goals must be S.M.A.R.T.. It is essential that your goals clearly spell out what success in your project will look like. What are the success criteria for this project? Project Scope – What product, service, or result do you expect to achieve by undertaking this project? What actions will your team take to deliver this? Discuss both what is within and outside of the scope of this project. If there is something that you will NOT be doing as part of this project that may seem ambiguous, clearly state this. Stakeholder Analysis – List the names and roles of all stakeholders and use a Power Interest Grid to outline how you will manage their expectations. Initial Estimates of Cost and Time – Establish significant dates (milestones) including start, end, and major event dates in between. Outline a high level estimate of the cost of this project. At this point, these are your best (educated) guesses. Assumptions and Constraints – Outline any assumptions that you are making that enable you to proceed as planned and to achieve success on this project. Outline the constraints that are present on this project and how you will handle the competing nature of these constraints. Risks – Outline anything that might get in your way as you try to accomplish the project’s goals. Analyze these risks and state the risk management strategies that you will undertake for the highest level risk. A Probability/ Impact Matrix will be useful here.

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