Construct frequency distribution of demand during lead time

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Reference no: EM13253596

Harry Coveleskie is the inventory manager for Weight Watchers' Clinic. Recently, demand for Diet 15 has shown wide fluctuations. Harry wants to determine the expected demand for Diet 15 during a recorder period, i.e., the time lapse from when stock is recorded until the material is received. The most important information Harry is seeking is how far in advance he should reorder before the stock level is reduced to 0. On the basis of historical data of lead time and demand, Harry realizes that these are random variables, described by the following probability distributions: Lead Time (Days): Probability Demand per Day Probability 1 0.5 1 0.1 2 0.3 2 0.3 3 0.2 3 0.4 4 0.2 a. Simulate this problem using the Monte Carlo process. Show the demand during lead time (DDLT) for 30 reorders and determine the expected demand during lead time. (Hint: Lead time must first be randomly generated, followed by separate random generations of daily demand rates for each day of lead time.) b. From the results of the simulation, construct a frequency distribution of demand during lead time.

Reference no: EM13253596

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