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Author Question: A store has collected the following information on one of its products: Demand = 10,000 units/year ... (Read 45 times)

moongchi

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A store has collected the following information on one of its products:

Demand = 10,000 units/year
Standard deviation of weekly demand = 25 units
Ordering costs = $30/order
Holding costs = $4/unit/year
Cycle-service level = 95% (z for 90% = 1.28)
Lead-time = 2 weeks
Number of weeks per year = 50 weeks

a. If a firm uses the continuous review system to control the inventory, what would be the order quantity and reorder point?
b. The firm decided to change to the periodic review system to control the item's inventory. For the most recent review, an inventory clerk checked the inventory of this item and found 200 units. There were no scheduled receipts at the time. How many units should be ordered? (HINT: Use the EOQ model to derive P, the time between reviews.)


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Marked as best answer by moongchi on Apr 18, 2020

AngeliqueG

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moongchi

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Reply 2 on: Apr 18, 2020
Great answer, keep it coming :)


Sarahjh

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Reply 3 on: Yesterday
:D TYSM

 

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