calculate the EOQ and reorder point for each of the book types. Lead time for any type of book is 5 weeks. Assume the demand data given in the spreadsheet is normally distributed. The accounting department estimates the average costs for A, B, and C books to be $5.05, $7.39, and $10.25, respectively, for a single copy. It costs 45% per year, per unit, for annual holding costs. The batch size is 3,500 for an A book, 1,000 for a B book, and 500 for a C book. The administrative cost for ordering a batch of a book has been estimated to be $125. What is your recommendation for each type of book? Why? How much safety stock should be held, by type of book? What is the total cost of your recommendation? What are the advantages and disadvantages of each option? Please solve in excel, please show all formulas in cells. Need (Color) line graphs chart showing variable relationships. Please answer questions in thoughtful original answer. Provide references "Links" Please pay close attention to the Lead-time. Use a standard "300 days per year" when doing the calculations if and when "days per year" is necessary Proposed innovative ideas for ICT project MINUTES 04/02/2017 02:30 PM Meeting Location: PY room A, Sydney MEETING CALLED BY Project Group A TYPE OF MEETING Formal NOTE TAKER Anup, PA to Chairman TIMEKEEPER Anup, PA to Chairman ATTENDEES Anup PA to Chairman, BA Bal, Quality Assurance Bushra, Project Manager/Chairman Sajan, Lead Developer Agenda Topics Time allotted: 30 Min Defining roles and responsibilities for the Project All participants DISCUSSION 1. Defining project management components 2. Project scope finalisation 3. Identifying Stakeholders 4. Discuss on Critical success factors 5. Discuss best solution 6. Project plan inputs from all the participants 7. Identify the Risk, risk mitigation 8. Define cost structure 1. The project management components has been discussed. The standard project management components would include: - Defining scope - Stakeholders analysis - Identify CSI - Best solution for the "Smart Notes" - Project plan / WBS - Risk management and risk mitigation - Costing schedule 2. The project scope has been finalized by participants. The scope has been noted. All the major components of the app have been defined and what to include are clearly articulated. 3. The stakeholders have been identified as follows: - Project Sponsor- Budget, project plan approval - Project Management Team- responsible for overall project tasks - Government Legislation- Current education related Act and Standards. - End users- Testing, providing demo app, feedback, research on current requirements 4. The Goals and Objectives of the project is discussed. The Objectives should be in SMART format. Critical success factor has been discussed and identified against each Objectives. 5. The best solution still has to be discussed in next meeting once the Prototype is designed. The features and functionality will be verified on later stages. 6. The project plan on WBS structure has been discussed. Each team member has valuable input for defining responsibilities and timeframe requirements. 7. The potential risks were discussed. Ten major risks were noted from the team discussion where risk mitigation plan will be designed on later stages. 8. The resource requirements were identified in meeting. Detailed cost structure will be made from the approved list of requirements. CONCLUSIONS The roles and responsibilities for each team member has been defined. The communication plan among team members will be done on WhatsApp group message until the communication plan is approved for the project. Project scope were finalized with assumption and constraints of the project. Four major stakeholders will be presented on detailed analysis. Goals and Objectives verified to be on SMART structure. The WBS structure is defined for the project. Further resource requirement will be discussed in next meetings. ACTION ITEMS PERSON RESPONSIBLE DEADLINE Research market trends and analyse BA 21 February 2017 Project plan WBS Project Manager 22 February 2017 Documenting Project Goals and Objectives Project manager 24 February 2017 Risk management plan documentation Quality Assurance 27 February 2017 Financial cost analysis Project Manager 27 February 2017   Time allotted: 30 Min Competitor analysis against the proposed project BA DISCUSSION 1. Discuss about current service provider on smart note taking 2. Digital scholary article availability for students in univiersities 1. Smart boards could be the close competitor for "Smart Notes" app. The cost of the board is currenty "not affordable" for small sized academic institutions. The fuctionalities smart board offers is partly different that "Smart Notes" offers. The potential threat of smart boards with app service is also disscussed. 2. Student has access to digital library when enrolled in University. The app popularity depends on its uability. "Smart Notes" app should provide unique features and funtionality that students should be attracted beside their digital library access. CONCLUSIONS 1. The best project decided 1. The "Smart Notes" app can be successful against smart boards since, the app notes based on AI. The project is cost effective. End-user can afford app while the smart boards is designed for educational enterprises only. 2. The digital library contains millions of scholary articles and it could be hectic to learners to find relevant subect. It is time consuming to collect scholary article from whole library. The "Smart Notes" helps to filter the articles according to the keywords and make notes automatically for research papers. ACTION ITEMS PERSON RESPONSIBLE DEADLINE Research on university providing learning management system with digital library access to students. Quality Assurance, BA 21 February 2017 Research on cost of smart boards including installation and maintenanace. Research on cost of "Smart Notes" applicable in market. Project manager 25 February 2017   OBSERVER Arda Tezcan, Director of Student Support Service RESOURCE PERSONS John Don, Coordinator, WLI SPECIAL NOTES None