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A retailer uses a periodic review inventory model. The daily demand for the product in question is normally distributed with a mean of 4 5
A retailer uses a periodic review inventory model. The daily demand for the product in question is normally distributed with a mean of and a standard deviation of Currently it places orders every two weeks, and the shipment lead time is four days. The retailer has a service policy.
What is the required inventory the manager should aim to order every time they place an order?
What should the order amount be if the current inventory is units?
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