Question: PLEASE BE DETAILED AND USE THE RIGHT METHOD ACCORDING TO THE QUESTION a) b) c) Consider a normally distributed annual demand with mean 8,600 and

PLEASE BE DETAILED AND USE THE RIGHT METHOD ACCORDING TO THE QUESTION

PLEASE BE DETAILED AND USE THE RIGHT METHOD

Consider a normally distributed annual demand with mean 8,600 and standard deviation 6. Suppose that the lead time is 67 days. Assume that a year is 365 days and z-statistic is 1.64. Calculate the reorder point based on the Q-model. Consider a P-model with safety stock. Monthly demand: 19,636 units Review cycle: 10 days Safety stock: 73 units Calculate the inventory turn (ratio). Assume that each month is 30 days. Consider a fixed-time period model (P-model). Assume that daily demand is 60 units with a standard deviation of 5 units. The review period is 11 days and lead time is 18 days. Management wants to ensure that the company does not run out of stock with 95% probability. Currently, there are 10 units in inventory. How many units should be ordered? z-statistic is 1.64

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