Problemin a fixed order quantity system q-system the daily, Ask an Expert

Accounting

Problem:

In a fixed order quantity system (Q-system), the daily demand for a product is approximately normally distributed with a mean of 91.2 and a standard deviation of 23.6 units. The order lead time is 17 days.

Required:

Question: What is the appropriate reorder point (in units) if the target service level is 87.08%?

Note: Be sure to show how you arrived at your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91164677

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