Question: If we set inventory levels so that on average we maintain a 91% line item fill rate. Then what is the probability that a typical

If we set inventory levels so that on average we maintain a 91% line item fill rate. Then what is the probability that a typical 5 -Item order will be filled completely and immediately? Answer: Percentage first place of decimal

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!

If we set inventory levels so that on average we maintain a 91% line item fill rate. Then what is the probability that a typical 5 -Item order will be filled completely and immediately? Answer:...

Consider the periodic-review, order-up-to model along with the model parameters and results provided by Dr. Billy Corrington and appearing in the Appendix I below, calculate the total annual supply...

Appendix I: Safety Stock Inventory Model The safety stock inventory model calculates safety stocks required to achieve a given line item fill rate (LIFR) goal for any item at any location. It takes...

2. Consider the periodic-review, order-up-to model along with the model parameters and results provided by Dr. Billy Corrington and appearing in the Appendix I below, calculate the total annual...

One of sub-contract manufacturer in China produces special electronic equipment for original equipment manufacturers (OEMs) in US and Europe. For US market, a 110 volt power supply was installed. For...

How does too much or the wrong inventory hurt your company's efforts to compete? a. Added costs b. Fewer SKUS c. Loss in value d. Missed opportunities e. ac and d 2 Inventory is a key part of a...

The Burrito-Making Process When customers walked into Pancho's Burritos, the first thing they encountered was a single-file line of customers that led to the service counter. Based on his own...

A company has the following demand forecast: average weekly demand is 2 , 5 0 0 units , standard deviation of the weekly demand is 1 2 2 units . Purchase price is $ 2 . 2 5 per unit, fixed ordering...

In the first step of the process, a burrito specialist asked the next customer in line how many burritos he or she would like. Pancho s Burritos only sold burritos. Limiting the menu to just one item...

1. A retailer, say Target, wishes to use a service level measure to determine the optimal safety stock. Would you recommend fill rate or probability of no stockout? Explain briefly why. 2. A retailer...

The maximum short-term capital loss that you can declare in a year is $3,000. You can defer a short-term capital loss for up to 3-years. For example, if you had a short-term capital loss in 2020 of...

What is a data scientist? What makes them so much in demand? Discuss.

On January 1 , 2 0 2 5 , Cullumber Co . issued ten - year bonds with a face value of $ 7 , 0 0 0 , 0 0 0 and a stated interest rate of 1 0 % , payable semiannually on June 3 0 and December 3 1 . The...

Premise: Using a dictionary and list, create a set of key / value pairs that consists of a musical database. The key / value pairs should consist of Artist Name: Song Names pattern. For example, EACH...