We also have some supplies where we need to keep safety stock and need to know when
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Question:
We also have some supplies where we need to keep safety stock and need to know when we should best reorder - there is variability in both the time it takes to receive the supplies and variability in our demand (both fluctuate in a normally distributed way). We don't want more than a 1% chance of running out-of-stock while replenishing.
What info would we need to give you to tell us what our safety stock should be, and at what stock level we should reorder?
Expert Answer:
To determine the safety stock and reorder point for your supplies we would need the following inform... View the full answer
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