A retailer buys a certain item from a distant supplier lead, Ask an Expert

Management Studies

A retailer buys a certain item from a distant supplier. Lead time (L) is normally distributed with a mean of thirty days (μ = 30) and a standard deviation of fourteen days (σ = 14). Daily demand is also normally distributed with a mean of four items (μ=4) and a standard deviation of one and one-half items (σ=1.5).

Requirement:

A. Determine the safety stock and reorder point for an eighty-five percent (85%) service level, that is, a 15% risk of a stockout.

B. Determine the safety stock, and reorder point for a ninety-five percent (95%) service level, that is, a 5% risk of a stockout.

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91640475

Have any Question?Write your Review or question?

Related Questions in Operation Management

Required text book c langley c john langley robert a

REQUIRED TEXT BOOK : C. Langley; C. John Langley; Robert A. Novack; Brian Gibson; John J. Coyle (2016) Supply Chain Management (12th Edition). Publisher: Cengage South-Western Chapter 6: Producing Goods and Services Chap ...

1 what is the value of crm strategies identify crm

1. What is the value of CRM strategies? Identify CRM strategies and examples. 2. Explain the value of developing a sales force based on the target market. (use citations) 3. What is Big Data and how can companies adapt ...

1 which of the following behaviors is associated with

1. Which of the following behaviors is associated with employees classified as “not engaged”? A. working late to improve a report that would have been acceptable as is B. helping out a coworker with a task instead of tak ...

1 describe the positive features and limitations of the

1. Describe the positive features and limitations of the Quantitative Strategic Planning Matrix (QSPM). 2. In your view, is comparable worth a legitimate strategy for determining job compensation? 3. As the director of T ...

1 which of the following statements is true of contingency

1. Which of the following statements is true of contingency planning? a. It solely considers factors of the internal business environment. b. It involves planning for a five-year time frame. c. It focuses solely on the i ...

1 if identity and personality are positioned as a set of

1. If identity and personality are positioned as a set of personal, social, or organizational definitions, in what ways might personality and identity present competing perceptions of leader behaviors as followers observ ...

Transformational leadershipchange is considered by many as

Transformational Leadership Change is considered by many as the new normal. Effective change management must be part of an organization’s DNA. An emerging leadership style called the transformational style has been shown ...

1 define domestic transportation tariff and explain its

1. Define domestic transportation tariff and explain its role in domestic transportation services. Include the balancing of the role of contract services with transportation tariffs. 2. Valerie Zeithaml recently put fort ...

Case ldquofisk alloy wire inc and perconrdquoplease write

Case : “Fisk Alloy Wire, inc and Percon” Please write a 2 to 3 page case study about “Fisk Alloy Wire, inc and Percon”- (Case study 5- Strategic Management: Competitiveness and Globalization 12e: Hitt, Ireland, Hoskisson ...

1 describe the strengths and weakness of fixed period

1. Describe the strengths and weakness of fixed period system (FPS) 2. Performance management is a process’. Describe what this statement means to you, and your understanding of what the ‘process’ involves and includes. ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Operation Management Expert