Question: Petromax Enterprises uses a continuous review inventory control system for one of its SKUs. The following information is available on the item. The firm operates

Petromax Enterprises uses a continuous review inventory control system for one of its SKUs. The following information is available on the item. The firm operates 50 weeks a year.

Demand - 50,000 units/year

ordering cost- $35/order

holding cost - $2 unit/year average lead time - 3 weeks

standard deviation of weekly demand - 125 units

Equation to find the reorder point (ROP)

1pt

ROP (equation) =

Plug in all numbers into equation (above), i.e., replace all letters with numbers

2pts

Reorder point (ROP) value

1pt

ROP =

Safety Stock (SS) value

1pt

SS =

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