Question: it is production & inventory system course Question 1: The Farmer's Wife is a country store specializing in knickknacks suitable for a farm-house dcor. One
it is production & inventory system course
Question 1: The Farmer's Wife is a country store specializing in knickknacks suitable for a farm-house dcor. One item experiencing a considerable buying frenzy is a miniature Holstein cow. Average weekly demand is 30 cows, with a standard deviation of 5 cows. The supplier, however, is in China. The lead time for new orders is 8weeks. 1. What is the safety stock if the Farmers Wife wants a 90% service level. 2. Use excel to sketch the demand distribution and show the mean of the demand during the lead time and the 90% service level on your sketch. If the standard deviation of the lead time is 2 weeks now. The Farmer's Wife, wants to develop a continuous review inventory system for this item with a cycle-service level of 90%. 3. What is the standard deviation of the demand during the lead time? 4. What is the safety stock of this inventory? 5. Approximately, on the same diagram above, sketch the distribution of the demand during the lead-time and show the mean and the 90% service level. Submit your solutions on one excel sheet. Only excel files will be accepted. Use excel to solve Question 1: The Farmer's Wife is a country store specializing in knickknacks suitable for a farm-house dcor. One item experiencing a considerable buying frenzy is a miniature Holstein cow. Average weekly demand is 30 cows, with a standard deviation of 5 cows. The supplier, however, is in China. The lead time for new orders is 8weeks. 1. What is the safety stock if the Farmers Wife wants a 90% service level. 2. Use excel to sketch the demand distribution and show the mean of the demand during the lead time and the 90% service level on your sketch. If the standard deviation of the lead time is 2 weeks now. The Farmer's Wife, wants to develop a continuous review inventory system for this item with a cycle-service level of 90%. 3. What is the standard deviation of the demand during the lead time? 4. What is the safety stock of this inventory? 5. Approximately, on the same diagram above, sketch the distribution of the demand during the lead-time and show the mean and the 90% service level. Submit your solutions on one excel sheet. Only excel files will be accepted. Use excel to solve
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