Change the model in the file R,Q Policy 2.xlsx slightly to allow a random lead time with
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Change the model in the file R,Q Policy 2.xlsx slightly to allow a random lead time with a given mean and standard deviation. If the mean lead time is two weeks, and the standard deviation of lead time is half a week, find the optimal solution if the company desires a fill rate of 98.5%. Explain exactly how the company would implement this solution.
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Model Optimal RQ ordering policy for model 2 Inputs Range names used Setup cost per order 125 Actual...View the full answer
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