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Your bar uses 5,000 quarts of wine each year and is open 50 weeks a year. The wine costs $3 per bottle, each time you order it costs $10 and holding costs are 20% of the purchase price of a bottle. If the standard deviation of use is 30 bottles per week and you want a 95.5% service probability, then:

a. What is your economic order quantity?

b. What is your reorder point?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91886592

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