Question: ITSCM 306 Operations Management Chapter 20 Problem Set: Inventory % Grade Problem 3: UDI Pharmaceuticals orders its antibiotics every two weeks (14 days) when a

ITSCM 306 Operations Management Chapter 20

ITSCM 306 Operations Management Chapter 20 Problem Set: Inventory % Grade Problem 3: UDI Pharmaceuticals orders its antibiotics every two weeks (14 days) when a salesperson visits from one of the Pharmaceutical companies. Tetracycline is one of its most prescribed antibiotics, with average daily demand of 800 capsules. The standard deviation of daily demand was derived from examining prescriptions filled over the past three months and was found to be 250 capsules. It takes 7 days for the order to arrive. UDI uses Fixed Time Period Model. UDI would like to satisfy 99 percent of the prescriptions. The salesperson just arrived, and there are currently 2,000 capsules in stock How many capsules should be ordered? 20%

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