Solution-Inventory for the manufacturing department

Inventory for the manufacturing department

Assignment Help Basic Statistics

Reference no: EM131083874

Suppose that you are a procurement specialist at XYZ corporation. One of your responsibilities is to make sure that you have enough parts on hand for your manufacturing department to process.

Your manager has indicated that "we should be 95% confident that we will have enough inventory for the manufacturing department." Also, you know from experience that once you place an order on the supplier, the "lead time" takes 10 weeks for the order to arrive.

Using the daily demand data below (and assuming calendar days where 1 week = 7 days), determine how many extra units of the part you should carry (i.e., safety stock).

Round to the nearest whole number (e.g., enter 54.5 as 55).

Day	Demand
1	92
2	89
3	126
4	188
5	149
6	132
7	160
8	90
9	146
10	89
11	201
12	105
13	104
14	85
15	154
16	105
17	190
18	86
19	136
20	145
21	121
22	126
23	163
24	116
25	190

Reference no: EM131083874

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Inventory for the manufacturing department

Reference no: EM131083874

Reference no: EM131083874

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