The daily demand for a particular item at a hardware store is normally distributed, with an average
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Question:
The daily demand for a particular item at a hardware store is normally distributed, with an average of and a standard deviation of units. The store manager is willing to accept a risk of stockout during the lead time, which is constant at days.
Write your final answer only without intermediate steps for the fillintheblank questions.
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The service level that the store manager wants to maintain
Round the final answer to two decimal places, eg when necessary.
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The appropriate value of Z ie the number of standard normal deviations
Round the final answer to two decimal places, eg when necessary.
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Safety stock
units. Round the final answer if it is not an integer to the nearest integer.
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Expected demand during lead time
Round the final answer if it is not an integer to the nearest integer.
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Reorder point
units. Round the final answer if it is not an integer to the nearest integer.
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