Business, 03.03.2020 02:58 stheresa777

2. Fixed-Order Quantity Model:Annual demand for a product is 16,120 units; weekly demand is 310 units with a standard deviation of 55 units. The cost of placing an order is $145, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.55 per unit. a.What is the economic order quantity? To provide a 90 percent service probability, what must the reorder point be?(Use Z-tableand round your final answer to the nearest whole number.)b. Suppose the production manager is told to reduce the safety stock of this item by 80 units. If this is done, what will the new service probability be?(Use Z-tableand round your answer to the nearest whole number.)

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2. Fixed-Order Quantity Model:Annual demand for a product is 16,120 units; weekly demand is 310 unit...

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