Question
A factory has a just-in-time ordering policy for an important component in the product it manufactures and its suppliers guarantees delivery of ordered components within
A factory has a "just-in-time" ordering policy for an important component in the product it manufactures and its suppliers guarantees delivery of ordered components within 30 days. Historical data shows that the components arrive on average within 24 days from ordering, the standard deviation is 4 days, and delivery times follow a normal curve closely.
(a) What percent of components are received within 30 days or ordering?
(b) Orders are flagged for special monitoring on the 24th day after ordering if they haven't yet arrived. What percent of these flagged orders arrive within 30 days of ordering? What percent of these flagged orders arrive more than 30 days after ordering
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started