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(Solution Download) Annual demand for a product is 10,920 units; weekly demand is 210 units with a standard deviation of


 

 

 

 

 

 

 

Annual demand for a product is 10,920 units; weekly demand is

 

210 units with a standard deviation of 40 units. The cost of

 

placing an order is $155, and the time from ordering to receipt is

 

four weeks. The annual inventory carrying cost is $0.70 per

 

unit.

 

 

 

 

 

 

 

 

 

To provide a 90 percent service probability, what must the

 

reorder point be? (Use Excel's NORMSINV()

 

function to find the correct critical value for the given

 

?-level. Do not round intermediate

 

calculations. Round "z" value to 2 decimal places and

 

final answer to the nearest whole

 

number.

 

 

 

 

 

 

 

 

 

Suppose the production manager is told to reduce the safety

 

stock of this item by 80 units. If this is done, what will the new

 

service probability be? (Use Excel's NORMSDIST() function

 

to find the correct probability for your computed Z-value.

 

Round your answer to the nearest whole number.)

 

 

 

 


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