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A manufacturer uses a purchase part who's demand over any time period of length t (in years) can assume to be normally distributed with mean 200t and variance 400t. The part cost $20 each. The lead-time is 4 weeks. The annual carrying cost rate is 0.2 $/$/year. All shortages are backlogged and the shortage cost is proportional to the number units short, where the backlogged cost is $16 per unit. The setup cost is $100. A reorder point (s, Q) policy is used. (Assuming 52 working weeks within a year). a) Find the optimal order quantity and the reorder point. b) Find the average total relevant cost (setup cost, inventory holding cost and shortage cost)
What are some different companies that could benefit from using this type of inventory management and why?
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What is Lean Six Sigma, please explain and give examples, thanks
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I need a two paragraph (one page) paper on the organizational change that Starbucks implemented in 2008
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