Practical Management Science
6th Edition
ISBN: 9781337406659
Author: WINSTON, Wayne L.
Publisher: Cengage,
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- If the mean = 20.3834 standard deviation = 101.53 1. What is the probability that daily demand will be less than 90 units? excel formula 2. What is the probability that daily demand will be more than 120 units? 3. What is the probability that daily demand will be between 80 and 110 units? 4. What is the probability that daily demand will be exactly 100 unitsarrow_forward27) Ali has a restaurant where the customers use a different number of disposable cups each day he is open. Every 30 days, Ali places an order to replenish his cup inventory. It takes 3 days for the order to arrive, at which point it brings the inventory level up to 4000 cups. It costs Ali $30 to have the order processed. Select all statements that apply to Ali's situation: Group of answer choices a) Ali uses a Continuous Inventory System b) d is constant c) Ali uses a Periodic Inventory System d) Ali uses a Fixed-Order-Quantity Inventory System e) Maximum Inventory Level is constantarrow_forwardquestion #2 Same problem statement: Weekly demand for DVD-Rs at a retailer is normally distributed with a mean of 1,000 boxes and a standard deviation of 150. Currently, the store places orders to the supplier, with a reorder point of 4,200 boxes. The order quantity to the supplier is fixed at 5,000 boxes. Replenishment lead time is 4 weeks, fixed order cost per order is $100, each box costs the retailer $10, and the inventory holding cost is 25% per year. If the retailer wants to achieve a 99% service level (use the z-value with one decimal, as in Table 13.4 on page 400 of the textbook), what should be the safety stock value? Numeric Response 772.8 SHARE f5 f6 4- f7 ♫+ fg fil W f12. insert prt sc delete home @ 0 end 1:23 PM 11/15/2022 pg Larrow_forward
- question #5 Same problem statement: Weekly demand for DVD-Rs at a retailer is normally distributed with a mean of 1,000 boxes and a standard deviation of 150. Currently, the store places orders to the supplier, with a reorder point of 4,200 boxes. The order quantity to the supplier is fixed at 5,000 boxes. Replenishment lead time is 4 weeks, fixed order cost per order is $100, each box costs the retailer $10, and the inventory holding cost is 25% per year. Under the current order quantity of 5,000 boxes and current reorder point of 4,200 boxes, what would be the order-up-to level S that the retailer should use as a baseline to calculate how much inventory to order when conducting a periodic review? Numeric Response 1500 f4 ***** LA f5 40 % f6 4- 0 C + & 7 < Prev. 門 fg KAA * 8 5 of 5 DII hp f10 DDI 9 Next fi W f12. insert prt sc + 11 ( ← delete backspace home num lock end 1:24 PM 11/15/2022 pg uparrow_forwardPlease help to solve step by step.arrow_forwardneed help asaparrow_forward
- NOTES Find the UCL and LCL .1000 +3 3 1000 (1-1000) 100arrow_forwardAverage daily demand (d) 130 cases Demand Standard deviation (σd) 20 cases Service level 94.0% Service level alternative 86.0% Lead tme, LT 6 days 1. What is the standard deviation of demand during lead time? Round your answer to one decimal place. _______ cases 2. What is the required safety stock at a 94 percent service level? Round your answer to the nearest whole number. _______ cases 3. What is the reorder point? Round your answer to the nearest whole number. _______ cases 4.What is the required safety stock at a 86 percent service level? Round your answer to the nearest whole number. _______ cases 5. What is the safety stock reduction? Round your answer to the nearest whole number. _______ casesarrow_forwardL. Houts Plastics is a large manufacturer of injection-molded plastics in North Carolina. An investigation of the company's manufacturing facility in Charlotte yields the information presented in the ← table below: How would the plant classify these items according to an ABC classification system? (Round dollar volume to the nearest whole number and percentage of dollar volume to two decimal places) Item Code Avg. Inventory (units) 1289 2347 2349 2363 2394 2395 L. Houts Plastics Charlotte Inventory Levels Value Dollar Volume (S/unit) 3.50 6782 7844 8210 8310 9111 360 300 120 65 60 25 222216 20 10 7 4.00 2.50 1.80 1.75 2.25 1.15 2.05 1.60 2.00 3.00 1,200 300 105 23 25 14 18 3,134 % of Dollar Volume 38.29 9.57 3.35 0.73 0.78 0.45 0.57arrow_forward
- question #3 Same problem statement: Weekly demand for DVD-Rs at a retailer is normally distributed with a mean of 1,000 boxes and a standard deviation of 150. Currently, the store places orders to the supplier, with a reorder point of 4,200 boxes. The order quantity to the supplier is fixed at 5,000 boxes. Replenishment lead time is 4 weeks, fixed order cost per order is $100, each box costs the retailer $10, and the inventory holding cost is 25% per year. With a safety stock of 300 boxes, what is the approximate service level (round to two decimals)? Numeric Response 84.13 * f5 10 f6 0 4- ♫+ fg C fil W f12. insert prt sc + 11 Ə ← delete backspace home num lock 4x D end 1:23 PM 11/15/2022 pg uparrow_forwardExercise 1: You are the operations manager at the company Servicios de Salud, Inc., which provides care services to the elderly. An important aspect of your job is ensuring that nursing homes have a healthy inventory of nutritional drinks for residents. Below is the historical demand for the product for one year: Month Historical demand (boxes) Forecasted demand (boxes) January 300 February 340 March 370 April 410 ¿? May 470 ¿? June 570 ¿? July 630 ¿? August 720 ¿? September 640 ¿? October 460 ¿? November 420 ¿? December 390 ¿? a. Calculate the average demand for each period from April to December using the 3-month simple moving average. Presents calculations and findings in a clear and organized manner. b. Discuss any trends or patterns observed in the calculated moving average demand values. c. Make an interpretation of the results and their implications for forecasting…arrow_forward18 If the standard deviation of demand is six per week, demand is 50 per week, and the desired service level is 95%, approximately what is the statistical safety stock? Select one: a. 16 units b. 64 units c. 10 units d. Cannot be determined without lead time data. e. 8 unitsarrow_forward
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