Daily demand for a product is 100 units, with a standard deviation of 15 units. The...
Daily demand for a product is 100 units, with a standard deviation of 15 units. The review period is 20 days and the lead time is 10 days. At the time of review there are 50 units in stock.
If 98 percent service probability is desired, how many units should be ordered? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.)
| Ordered quantity | units | |
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Daily demand for a product is 100 units, with a standard
deviation of 15 units. The...
Daily demand for a product is 100 units, with a standard deviation of 15 units. The...
Daily demand for a product is 100 units, with a standard deviation of 15 units. The review period is 20 days and the lead time is 10 days. At the time of review, there are 50 units in stock. If 98 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Ordered quantity units
Problem 11-20 Daily demand for a product is 100 units, with a standard deviation or 15...
Problem 11-20 Daily demand for a product is 100 units, with a standard deviation or 15 unts The review peniod is 20 days and the lead time is 10 days. At the time of review there are 50 units in stock If 98 percent service probability is desired, how many units should be ordered? (Use Excet's NORMSINVO function to find the correct critical value for the given a-level. Do not round intermediate calculations. Round "r value to 2 decimal places...
Problem 11-20 (Algo) Daily demand for a product is 110 units, with a standard deviation of...
Problem 11-20 (Algo) Daily demand for a product is 110 units, with a standard deviation of 20 units. The review period is 5 days and the lead time is 6 days. At the time of review, there are 50 units in stock. If 90 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INVO function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Ordered...
Problem 11-20 (Algo) Daily demand for a product is 170 units, with a standard deviation of...
Problem 11-20 (Algo) Daily demand for a product is 170 units, with a standard deviation of 30 units. The review period is 5 days and the lead time is 2 days. At the time of review, there are 20 units in stock. If 95 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Ordered...
nt Weeks Served Help Save & Exit Submit 5 days Daily demand for a products 90...
nt Weeks Served Help Save & Exit Submit 5 days Daily demand for a products 90 units, with a standard deviation of 30 units. The review period is 20 days and the lead time At the time of review, there are 20 units in stock. If 98 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest...
Annual demand for a product is 10,920 units; weekly demand is 210 units with a standard...
Annual demand for a product is 10,920 units; weekly demand is 210 units with a standard deviation of 40 units. The cost of placing an order is $155, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.70 per unit. a. To provide a 90 percent service probability, what must the reorder point be? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations....
Dave's Auto Supply custom mixes paint for its customers. The shop performs a weekly inventory count...
Dave's Auto Supply custom mixes paint for its customers. The shop performs a weekly inventory count of the main colors that are used for mixing paint. Average weekly demand 26 gallons Standard deviation of demand 4 gallons/week Desired service probability 90 % Current inventory 28 gallons Lead time 1 week Determine the amount of white paint that should be ordered using the above information: (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not...
Palin’s Muffler Shop has one standard muffler that fits a large variety of cars. The shop...
Palin’s Muffler Shop has one standard muffler that fits a large variety of cars. The shop wishes to establish a periodic review system to manage inventory of this standard muffler. Use the information in the following table to determine the optimal inventory target level (or order-up-to level). Annual demand 3,770 mufflers Ordering cost $ 50 per order Standard deviation of daily demand 6 mufflers per working day Service probability 83 % Item cost $ 28.00 per muffler Lead time 2...
There is a daily demand of 10 units with standard deviation 3 unit. The lead time...
There is a daily demand of 10 units with standard deviation 3 unit. The lead time is 14 days with the review period is 30 days. The company set policy of 98% demand satisfaction from items in stock. Beginning inventory is 150 units. How many units should be ordered?
Palin's Muffler Shop has one standard muffler that fits a large variety of cars. The shop...
Palin's Muffler Shop has one standard muffler that fits a large variety of cars. The shop wishes to establish a periodic review system to manage inventory of this standard muffler. Use the information in the following table to determine the optimal inventory target level (or order-up-to level). Annual demand Standard deviation of daily demand Item cost Annual holding cost Review period 2,750 mufflers 6 mufflers per working day $28.00 per muffler 22 % of item value 21 working days Ordering...
Daily demand for a product is 100 units, with a standard deviation of 15 units. The review period is 20 days and the lead time is 10 days. At the time of review, there are 50 units in stock. If 98 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Ordered quantity units
Problem 11-20 Daily demand for a product is 100 units, with a standard deviation or 15 unts The review peniod is 20 days and the lead time is 10 days. At the time of review there are 50 units in stock If 98 percent service probability is desired, how many units should be ordered? (Use Excet's NORMSINVO function to find the correct critical value for the given a-level. Do not round intermediate calculations. Round "r value to 2 decimal places...
Problem 11-20 (Algo) Daily demand for a product is 110 units, with a standard deviation of 20 units. The review period is 5 days and the lead time is 6 days. At the time of review, there are 50 units in stock. If 90 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INVO function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Ordered...
Problem 11-20 (Algo) Daily demand for a product is 170 units, with a standard deviation of 30 units. The review period is 5 days and the lead time is 2 days. At the time of review, there are 20 units in stock. If 95 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number.) Ordered...
nt Weeks Served Help Save & Exit Submit 5 days Daily demand for a products 90 units, with a standard deviation of 30 units. The review period is 20 days and the lead time At the time of review, there are 20 units in stock. If 98 percent service probability is desired, how many units should be ordered? (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest...
Palin's Muffler Shop has one standard muffler that fits a large variety of cars. The shop wishes to establish a periodic review system to manage inventory of this standard muffler. Use the information in the following table to determine the optimal inventory target level (or order-up-to level). Annual demand Standard deviation of daily demand Item cost Annual holding cost Review period 2,750 mufflers 6 mufflers per working day $28.00 per muffler 22 % of item value 21 working days Ordering...
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