Question: 3. Given the following inventory system: average weekly ( 7 days a weck) demand is 1000 units with a standard deviation of 100 units, review

3. Given the following inventory system: average weekly ( 7 days a weck) demand is 1000 units with a standard deviation of 100 units, review period is 28 days (4 weeks), lead time is 14 days ( 2 weeks) and the target service probability is 90%. Currently, inventory on hand is 500 units. How many units should be ordered? 4. A product has an average daily demand of 400 units with standard deviation of 100 units. Lead-time is 1 day. If management would like to satisfy all demand in 80% of the cycles, what is the reorder point

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

the problem is dealing with Re-Order points 3. Given the following inventory system: average weekly ( 7 days a week) demand is 1000 units with a standard deviation of 100 units, review period is 28...

1. In a single-period Newsvendor model, if the demand is normally distributed with a mean of 80 and a standard deviation of 10 , and the optimal service level is 90%, what is the optimal order...

Answer the questions below. Given the following inventory system: average weekly (7 days a week) demand is 1000 units with a standard deviation of 100 units, order interval is 14 days, lead time is 7...

Given the following inventory system: average weekly ( 7 days a week) demand is 1000 units with a standard deviation of 100 units, review period is 28 days ( 4 weeks), lead time is 14 days (2 weeks)...

Given the following inventory system: average weekly (7 days a week) demand is 1000 units with a standard deviation of 85 units, the review period is 5 weeks and lead time is 14 days (2 weeks) and...

Given the following inventory system: average weekly (7 days a week) demand is 1000 units with a standard deviation of 100 units, review period is 28 days (4 weeks), lead time is 14 days (2 weeks)...

Given the following inventory system: average weekly ( 7 days a week ) demand is 1 0 0 0 units with a standard deviation of 1 0 0 units, review period is 2 8 days ( 4 weeks ) , lead time is 1 4 days...

How do express warranties differ from implied warranties? Discuss.

In Figure, a box of Cheerios (mass m C? = 1.0kg) and a box of Wheaties (mass m W ? = 3.0kg) are accelerated across a horizontal surface by a horizontal force f applied to the Cheerios box. The...

Which of the following is true about annuities?An annuity is a series of equal amount and equal spaced payments.An annuity is just a series of payments not dependent on amount and spacing.An annuity...

Read the articles on journaling and review the template provided. Identify what approach, to journaling, in the articles you found useful and why. Post to the discussion forum that you have reviewed...