Question: Dunstreets Department store would like to develop an inventory ordering policy with a 95% probability of not stocking. To illustrate your recommended procedure, use as

Dunstreets Department store would like to develop an inventory ordering policy with a 95% probability of not stocking. To illustrate your recommended procedure, use as an example the ordering policy for white percale sheets

Demand for white percale sheets is 3200 per year. The store is open 365 days per year. Every 4 weeks (28 days ) inventory is counted and a new order is placed. It takes 15 days for the sheet to be delivered. The standard deviation of demand for the sheets is 3 per day. There are currently 180 sheets on hand.

How many sheets should you order

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