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One of the most - often sold items at a grocery store is milk. The daily demand for milk at a local grocery store is
One of the mostoften sold items at a grocery store is milk. The daily demand for milk at a local grocery store is half gallon jugs that sell for $ each. The standard deviation in demand is half gallon jugs per day, and the holding costs can be estimated at per day ie cooling cost, as well as the cost of having to throw out milk that has passed its sellby date The cost for an order is $ based on the fee paid to the party that delivers the milk who needs three days to deliver a new batch Determine the reorder point for a service level.
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