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Suppose you are the manager of the office furniture department at Nebraska Furniture Mart. One of your products is a cherry study desk. The weekly demand for this desk can be represented by a normal distribution with mean 50 and standard deviation 20. Your review period is 1 week while the lead-time for replenishment is 2 weeks.
(a) Suppose your order up to level is 250. You are about to place an order and note that your on-hand inventory level is 100 and you have 80 desks on order. How many desks will you order? (Assume no backorders)
(b) Suppose your order up to level is 250. You are about to place an order and note that you on- hand inventory level is 160 and you have 100 desks on order. How many desks will you order? (Assume no backorders)
(c) What is the optimal order up to level (i.e., base stock level) if you want to target a 98% in- stock probability?
(d) Given your answer in part (c), what is the safety stock level with this inventory policy?
(e) Given your answer in part (c), assume that at the beginning of the review period, there are 35 desks in stock and there are 40 desks on order. Your records show that there are 10 outstanding backorders. How many desks should you order following your inventory policy?
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