Author Question: Jan Tuttle is the inventory manager of an art supply store. She uses a periodic review system for ... (Read 97 times)

Frost2351 · **on:** Apr 18, 2020

Jan Tuttle is the inventory manager of an art supply store. She uses a periodic review system for all oil paints. The number of periods between orders (P) for red #68 is 15 workdays. (The store operates 50 weeks per year, five workdays per week.) Additional information concerning red #68 follows.

Demand = 30 units/workday
Standard deviation of daily demand = 4 units/workday
Lead-time = 7 workdays
Desired cycle-service level = 85%
A normal distribution table is appended to this exam.

What is the target inventory level T for red #68?
◦ Greater than 600 but fewer than or equal to 650
◦ Greater than 550 but fewer than or equal to 600
◦ Greater than 650
◦ Fewer than or equal to 550

bobsmith · **Reply #1 on:** Apr 18, 2020

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