Question: What is the optimal order quantity Q * * ? What is the optimal Re - order point R ? What is the optimal fill

What is the optimal order quantity Q**?
What is the optimal Re-order point R?
What is the optimal fill-rate service level (with two decimal places)?
The backorder cost (p) is unreliable and should not be used. Rework the model using a 97%, in-stock service level requirement, What is the revised order quantity, Q?
The backorder cost (p) is unreliable and should not be used. Rework the model using a 97%, fill rate service level requirement, What is the revised order quantity, Q?
The backorder cost (p) is unreliable and should not be used. Rework the model using a 97%, fill rate service level requirement, How has the annual cost of backorders changed?
The backorder cost (p) is unreliable and should not be used. Rework the model using a 97%(or 99%), fill rate service level requirement, What is the revised type 1 service level ( with two decimal places)?
Finally, the management team would like to do some sensitivity analysis on the type 2 service level. By how much does Total Relevant Cost increase as the type 2 service level is changed from 97% to 99%?
At the 99% type 2 service level, what is the average inventory level?
 What is the optimal order quantity Q**? What is the optimal

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!