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Given this information:
Lead time demand = 600 poundsStandard deviation of lead time demand = 52 pounds(Assume normality)Acceptable stockout risk during lead time = 4 percent
a. What amount of safety stock is appropriate?b. When should this item be recorded?c. What risk of stockout would result from a decision not to have any safety stock?
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A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
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