Solution-Distributed demand during the reorder period

Distributed demand during the reorder period

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Reference no: EM131740414

A local manufacturer uses a part in production that has a normally distributed demand during the reorder period. The mean (average) demand during the reorder period is 120 with a standard deviation of 10. The plant manager wants the probability of a stockout during the reorder period to be 2% of the time. a)What reorder point should be used? b) How much safety stock should be maintained?

Reference no: EM131740414

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Distributed demand during the reorder period : A local manufacturer uses a part in production that has a normally distributed demand during the reorder period

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Distributed demand during the reorder period

Reference no: EM131740414

Reference no: EM131740414

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