The daily demand for Iron coat paint at the Top Value Hardware Store in North Bay is
Question:
The daily demand for Iron coat paint at the Top Value Hardware Store in North Bay is normally distributed, with a mean of 30 liters and a standard deviation of 10 liters. The lead time for receiving an order of paint from the paint distributor is eight days. Since this is the only paint store in North Bay, the manager is interested in maintaining only a 75% service level. What reorder point should be used to meet this service level? The manager subsequently learned that a new paint store would open soon in North Bay, which has prompted her to increase the service level to 95%. What reorder point will maintain this service level?
Step by Step Answer:
For a 95 service lev...View the full answer
Operations Management Creating Value Along the Supply Chain
ISBN: 978-1118301173
1st Canadian Edition
Authors: Roberta S. Russell, Bernard W. Taylor, Ignacio Castillo, Navneet Vidyarthi
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