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The annual demand for a product is 15,000 units. The weekly demand is 288 units with a standard deviation of 80 units. The cost to place an order is $32.00, and the time from ordering to receipt is six weeks. The annual inventory carrying cost is $0.10 per unit. Find the reorder point necessary to provide a 90 percent service probability. what is the Reorder point? Suppose the production manager is asked to reduce the safety stock of this item by 45 percent. If she does so, what will the new service probability be? what is the Service probability?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91630031

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