Reorder Point: The table below summarizes basic demand and lead time information for a product sold by a small company located in Barcelona, Spain. The company's executives have declared that all products should be in-stock in 97% of all order cycles. The warehouse manager Eduardo (who has been doing this job for the past 20 years), in turn, has declared that reordering whenever the inventory position drops down to 1,000 units should do the trick. As a logistics consultant, you are asked to quickly estimate what in-stock rate is actually achieved given a reorder point level of 1,000 units. Did Eduardo get it right? Hint: You need to work backwards here... and the "normsdist(...)" function can be used to convert a z value to the corresponding value of F(R).

Average Demand	D	4,820	Units/Year
STD. Deviation of Demand	sD	1,106	units/year
Average Lead Time	L	0.12	years
STD. Deviation of Lead Times	sL	0.02	years