What is the reorder point and when an order should be placed

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Assignment: Demand for grated parmesan at Whole Foods is 67 cases a day on average with a standard deviation of 10 cases per day. The order lead time could vary too. On average, it takes 3 days for an order to arrive and the standard deviation of the lead time is 1.5 days. Whole Foods targets a 98% service level. Note: both demand and lead time random variables follow a Normal distribution.

What does it mean for Whole Foods to target a 98% service level with parmesan cheese?
Determine the safety stock level. If the values calculated are not integer, please round it.
What is the reorder point? that is, when an order should be placed?

Reference no: EM133306093

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What is the reorder point and when an order should be placed : What does it mean for Whole Foods to target a 98% service level with parmesan cheese? Determine the safety stock level. If the values calculated are not integer

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