anachapal9118 anachapal9118

19-12-2022
Business

Answered

the boss is concerned about this model because demand really varies. the standard deviation of demand was determined from a data sample to be 5.5 cans per day. the manager wants a 98 percent service probability. determine a new inventory plan based on this information and the data in a. use qopt from part a.

Answer :

PallaviB PallaviB

21-12-2022

The new inventory plan based on this information and the data is 14.9 cans per day in order to provide a 98 percent service probability.

Qopt = (2 x Standard Deviation x Square root of 2) / Service Probability

Qopt = (2 x 5.5 x √2) / 0.98

Qopt = 14.9 cans per day

This inventory plan is calculated by multiplying the standard deviation of demand by the square root of two, and then dividing the result by the desired service probability. This calculation can be used to create an inventory plan that is based on the data from the sample and the desired service probability. This plan will help ensure that the inventory can meet customer demands, while still keeping costs low.

To know more about inventory plan click here

https://brainly.com/question/13630102

#SPJ4

Answer Link

Other Questions

On January 1, 2024, a company adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $345,000 . An inte

The fact that superior service can generate a competitive advantage for a company does not mean that every attempt at improving service will create such an adva

The posting process will include the transfer of the following information from the journal to the account?

In Exercises 33 and 34 explain why you cannot use the methods of this section to find the desired probability. Hispanic workers A factory employs 3000 unionized

Assume the expected inflation rate in a country is 3%, the current unemployment rate is 4%, and the natural rate of unemployment is 5%. (a) Draw a correctly lab

Which of the following is true about easements? 1 The easement holder owns the land 2 It has no right to possession, only non-exclusive use of the land 3 It can

The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The Decembe

Estimating the market value of real estate is complicated by the unique characteristics of real estate markets. In contrast to stock markets, real estate market

Assume a profit-maximizing monopolist is able to price discriminate, dividing its consumers into two distinct groups charging each a different price. Based on t

according to the i/o view, competitive advantage is determined by an organization's positioning in the industry. true or false