A distributor of large appliances needs to determine the order quantities and reorder points for the various products it carries.
The following data refer to a specific refrigerator in its product line:
1. Cost to place an order $100
2. Holding cost 20 percent of product cost per year
3. Cost of refrigerator $500 each
4. Annual demand 500 refrigerators
5. Standard deviation during lead time 10 refrigerators
6. Lead time 7 days
Consider an even daily demand and a 365-day year.
Required:
a) What is the economic order quantity?
b) If the distributor wants a 97 percent service probability, what reorder point, R, should be used?
Answers: 3
Business, 21.06.2019 19:40, dlow4974
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Business, 21.06.2019 19:50, elijahbebeastin
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Business, 22.06.2019 03:00, aparr2007
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Business, 22.06.2019 21:20, danielahumajova6
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