Suppose a distributor faces an annual demand for a car horn for small cars that is normally
Question:
Suppose a distributor faces an annual demand for a car horn for small cars that is normally distributed with a mean of 2300 items and a standard deviation of 300.
The cost of placing an order is $150 and the holding cost is $10/item/year. The replenishment lead time is 9 days (assume 352 days in a year). Answer the following:
a. Compute the economic order quantity (EOQ).
b. If a service level of 5% is desired, what should R be in the (Q, R)
model?
c. For your answer to part (b), what is the average cycle, safety, and pipeline stock equal to?
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Related Book For
Service Systems Engineering And Management
ISBN: 978-0367781323
1st Edition
Authors: A. Ravi Ravindran ,Paul M. Griffin ,Vittaldas V. Prabhu
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