Question: More about inventory control. Refer to the previous exercise. In practice, the amount of inventory held on the shelf during the lead time is known

More about inventory control. Refer to the previous exercise. In practice, the amount of inventory held on the shelf during the lead time is known as the reorder point. Firms use the term service level to indicate the percentage of the time that the amount of inventory is sufficient to meet demand during the reorder period. Use software and the Poisson distribution to determine the reorder points so that the service level is minimally

(a) 90%.

(b) 95%.

(c) 99%.

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