Question: which one P system or Q system ? 1. A computer products store stocks color graphics monitors and the daily demand is normally distributed with
which one P system or Q system ?
1. A computer products store stocks color graphics monitors and the daily demand is normally distributed with a mean of 1.6 monitors and a standard deviation of 0.4 monitor. The leadtime to receive an order from the manufacturer is 15 days. Determine the reorder point that will achieve a 98% service level. 2. Consider an economic order quantity case where annual demand = 1000 units, EOQ, Q = 200 units, the desired probability of not stocking out P = 0.95, the standard deviation of demand during leadtime = 25 units, and leadtime L = 15 days. Determine the reorder point, Assume that demand is over a 250 workday year. 3. KVS Pharmacy stocks a popular brand of over the counter flu and cold medicine. The average demand for the medicine is six packages per day, with a standard deviation of 1.2 packages. A vendor for the pharmaceutical company checks KVS's stock every 60 days. During one visit the store had eight packages in stock. The lead time to receive an order is five days. Determine the order size for this order period that will enable KVS to maintain a 95% service level. 4. Daily demand for certain product is normally distributed with a mean of 60 and standard deviation of 7. The source of supply is reliable and maintains a constant lead-time of six days. The cost of placing the order is $10 and annual carrying costs are $0.50 per unit. There are no stock out costs and unfilled orders are filled as soon as the order arrives. Assume sales occur over the entire 365 days of the year. Find the order quantity and reorder point to satisfy a 95% probability of not stocking out during lead-time Step by Step Solution
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