It takes your firm 2 days to prepare and mail out the monthly statements to your customers. On average, the mail time between your firm and your customers is 4.5 days. It takes your firm an average of 2.5 days to process customer payments once they are received. Customer cheques take an average of 1 day to clear the bank. What is your total collection time?
It takes your firm 2 days to prepare and mail out the monthly statements to your customers. On average, the mail time between your firm and your customers is 4.5 days. It takes your firm an average of 2.5 days to process customer payments once they are received. Customer cheques take an average of 1 day to clear the bank. What is your total collection time?
Operations Research : Applications and Algorithms
4th Edition
ISBN:9780534380588
Author:Wayne L. Winston
Publisher:Wayne L. Winston
Chapter15: Deterministic Eoq Inventory Models
Section: Chapter Questions
Problem 3RP
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