The new ceo of famous butter made cookies fbmc directs you, Ask an Expert

Management Studies

The new CEO of Famous Butter Made Cookies (FBMC) directs you to create a new fixed-order quantity model. Given the following information, what is the reorder point for this new model? The predicted demand for a one month (30 day) planning horizon is 120,000 cookies. You know that the holding cost is $0.25 per cookie per day. The ordering cost is $12,500 per order. The lead time to bake cookies is 1 day, the average daily demand is 4,000 cookies and the variance of daily demand for cookies equals 100,000. The desired service level is 99.997%. Assume that 20,000 cookies are currently in stock.

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92589275

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