Chicago's Hard Rock Hotel distributes a mean of 1,100 bath towels per day to guests at the pool and intheir rooms. This demand is normally distributed with a standard deviation of 100 towels per day, based onoccupancy. The laundry firm that has the linen contract requires a 3-day lead time. The hotel expects a96% service level to satisfy high guest expectations. Refer to the standard normal table for z-values.a) What is the reorder point?towels (round your response to the nearest whole number).b) What is the safety stock?towels (round your response to the nearest whole number).

Given data; d Average Demand 1100 bath towels per day SD Standard deviation 100 bath…

Answered: Chicago's Hard Rock Hotel distributes a…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Drug Inc. sells a high runner product that is ordered every 20 days when a sales person visits from one of the pharmaceutical companies. This product has an average daily demand of 1,500 units. The standard deviation of daily demand was calculated from evaluating data over the past three months and was found to be 550 units. Once an order is started, it takes seven days to arrive. The company would like to satisfy 95 percent of their demand. The sales person just arrived, and there are currently 10,000 units in warehouse. How many units should be ordered during that Time Period? Formula = Reorder point (time period) – On hand inventory
Peter Sagan is in charge of maintaining hospital supplies at Champs Hospital. During the past year the mean weekly demand for a special type of tubing was 186 packages of this tubing with a standard deviation of 13 packages of tubing. The lead time for receiving this tubing from the supplier is 1.5 weeks. Peter would like to maintain a 95% service level and places an order for 750 packages every time an order is placed. d) If the weekly demand is 186 and there is a 1.5 week lead time - what is the reorder point (99% service level)? e) If the carrying cost per year is $0.50/unit/year - what is the additional cost associate with the 99% service level compared to 95% service level (i.e. cost of safety stock at 99% level - cost of safety stock at 95% service level)? solve on excel
Peter Sagan is in charge of maintaining hospital supplies at Champs Hospital. During the past year the mean weekly demand for a special type of tubing was 186 packages of this tubing with a standard deviation of 13 packages of tubing. The lead time for receiving this tubing from the supplier is 1.5 weeks. Peter would like to maintain a 95% service level and places an order for 750 packages every time an order is placed. a) How much safety stock should be used for a 95% service level? b) If the weekly demand is 186 and there is a 1.5 week lead time - what is the reorder point (95% service level)? c) How much safety stock should be used for a 99% service level? solve using excel
NING SYSTEM (ACADEMIC) tory Management - Spring21 Time left 1:14:19 Alocal Omani retail store finds out the its competition is ordering 50O kgs each order of a coffee brand. Over years the local Omani store has realized that its competition has adopted an economic ordering quantity (EOQ) policy for ordering. Whereas, local Omani store has determined that it take OMR 25 to order and the annual holding cost is 25% of the price of the coffee brand. The price of the coffee brand is OMR 100 per kg. What is the annual demand for this coffee brand? Round up to the nearest integer None is correct Ob. 100,000 150,000 O d. 90,000 125.000 NEXT PAGE US PAGE
A small grocery store sells fresh produce, which it obtains from a local farmer. During the strawberry season, demand for fresh strawberries can be reasonably approximated using a normal distribution with a mean of 36 quarts per day and a standard deviation of 7 quarts per day. Excess costs run .40 cents per quart. The grocer orders 42 quarts per day.Use Table. What is the implied cost of shortage per quart?
ABC Company placed an order on December 1. It normally receives the order after 9 days. If the company has a normal usage of 10 units per day. What is the re-order point?
Caring Hospital's dispensary reorders doses of a drug when the supply on hand falls to 18 units. Lead time for resupply is three days. Given the typical usage over the last 10 days, what service level is achieved with the hospital's reorder policy? (Hint. Use the following formula.) (Do not round intermediate calculations. Round your "z" value and final answer to 2 decimal places.) Use Table. ROP =dLT +2 (od) √LT Day Units 1 3 2 3 4 4 7 5 Service level Click here for the Excel Data File 5 5 % 6 6 7 4 8 3 9 4 10 5
27) 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 constant
A company uses approx. 600 units a day & this tends not to vary by more than a few units either way. LT is normally distributed with a mean of 6 days & a std dev of 2 days. A service level of 90% is desired, find ROP.
Chicago's Hard Rock Hotel distributes a mean of 1,200 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 100 towels per day, based on occupancy. The laundry firm that has the linen contract requires a 3-day lead time. The hotel expects a 99% service level to satisfy high guest expectations. Refer to the standard normal table Z Pr(Z) 0.38 65 0.50 69 0.67 75 0.84 80 1.04 85 1.28 90 1.41 92 1.56 94 1.65 95 1.75 96 2.06 98 2.33 99 a) What is the reorder point? b) What is the safety stock? enter your response here towels (round your response to the nearest whole number).
Chicago's Hard Rock Hotel distributes a mean of 1,000 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 95 towels per day, based on occupancy. The laundry firm that has the linen contract requires a 4-day lead time. The hotel expects a 98% service level to satisfy high guest expectations. Refer to the standard normal table for z-values. a) What is the reorder point? towels (round your response to the nearest whole number). towels (round your response to the nearest whole number). b) What is the safety stock? Z-Table Z 0.38 0.50 0.67 0.84 1.04 1.28 1.41 1.56 1.65 1.75 2.06 2.33 Pr(Z) 65 69 75 80 85 90 92 94 95 96 98 99
It has been theoretically and empirically generalized that Recency is always the most important factor for classification of customers in RFM analysis. True False

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