Question: Tom uses a fixed time period inventory system in his store. He counts his inventory every 20 days and then makes an order. Eight days

Tom uses a fixed time period inventory system in his store. He counts his inventory every 20 days and then makes an order. Eight days later his order shows up from the supplier. On one ordering occasion, he counts and finds 21 units in inventory. If the average daily demand is 15 units, the standard deviation of the (review period + lead time) demand is 24 units, and Tom desires a service level of 90%, about how many units should Tom order

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

The Kare Counseling Center was incorporated as a not-for-profit voluntary health and welfare organization 10 years ago. Its adjusted trial balance as of June 30, 2017, follows. 1. Salaries and fringe...

Tom uses a fixed time period inventory system in his store. He counts his inventory every 20 days and then makes an order. Eight days later his order shows up from the supplier. On one ordering...

Tom uses a fixed review period inventory system in his store. He counts his inventory every 30 days and then makes an order. Ten days later his order shows up from the supplier. On on ordering...

Tom uses a fixed review period inventory system in his store. He counts his inventory every 30 days and then makes an order. Ten days later his order shows up from the supplier. On one ordering...

A firm uses a fixed time period model to manage a type of bolts they keep in inventory. The average daily demand for the bolts is 56 with a standard deviation of 3. An order is placed every 35 days...

Question 25 (3.5 points) Listen A firm uses a fixed time period model to manage a type of bolts they keep in inventory. The average daily demand for the bolts is 48 with a standard deviation of 5. An...

1. A firm uses a fixed time period model to manage a type of bolts they keep in inventory. The average daily demand for the bolts is 41 with a standard deviation of 3. An order is placed every 35...

A firm uses a fixed time period model to manage a type of bolts they keep in inventory. The average daily demand for the bolts is 57 with a standard deviation of 4. An order is placed every 14 days...

Question 13 (4.5 points) Listen A firm uses a fixed time period model to manage a type of bolts they keep in inventory. The average daily demand for the bolts is 53 with a standard deviation of 6. An...

an online retailer uses a fixed time period with safety stock inventory system to control the inventory of a type of visual reality (VR) headsets it stocks. Demand for the VR headsets average 50...

Assume that you are a loan officer at Security Bank Spencer Software Corp has asked for a loan Does it matter whether they are a sole proprietorship partnership or a corporation

A person standing near the edge of a cliff 100 feet above a lake throws a rock upward with an initial speed of 32 feet per second. The height of the rock above the lake at the bottom of the cliff is...

a Explain what is meant by a firewall. b Describe four of the tasks carried out by a typical firewall.

W AutoSave Off Monthly Operat... . Search (Alt+Q) A Allison Walker AW X File Home Insert Draw Design Layout References Mailings Review View Help Comments Share G Calibri (Body) 13 ~ A A Aa* Ap O...