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Suppose a hospital uses a periodic review model to control inventory. During the past year, the mean daily demand for bandage BX-5 was 200 and the demand was normally distributed. The standard deviation of the daily demand was 10. The inventory level was reviewed once every 6 days. It takes 3 days to receive the deliveries of the bandage after an order is placed. Suppose the required “z” value is 1.88 to ensure a satisfactory service level of 97%. Then how many bandages should the hospital order each time? Find the closest value.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91891788

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