The Paramount Paper company produces paper from wood pulp ordered from a lumber products firm. The paper
Question:
The Paramount Paper company produces paper from wood pulp ordered from a lumber products firm. The paper company’s daily demand for wood pulp is normally distributed, with a mean of 9000 kilograms and a standard deviation of 1900 kilograms. Lead time is eight days. Determine the reorder point if the paper company wants to limit the probability of a stock-out and work stoppage to 2%.
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