Question: 1. Using the past seven-months' data as the benchmark, measure the clinic's performance. What indicators will you use in your calculations and why? 2. What
1. Using the past seven-months' data as the benchmark, measure the clinic's performance. What indicators will you use in your calculations and why? 2. What is the major trade-off in inventory management illustrated by John and Lily? 3. Suppose the clinic implements a continuous review system. a. What order quantity and reorder point would you recommend to achieve a 97.5% service level? b. What order quantity and reorder point would you recommend to achieve a 99% service level? c. What is the percent difference in safety stock? d. Compare the performance these continuous review policies would have achieved over the last 7 months with that of the current system
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
