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To re-evaluate the replenishment order point, the data are the following Daily demand for fresh produce - this will give me information on how many
To re-evaluate the replenishment order point, the data are the following
- Daily demand for fresh produce - this will give me information on how many products to be ordered.
- Replenishment time - this will tell me how often orders need to be placed
- Lead time. - this will tell me how long it takes for the product to be delivered
Questions
a. Explain the relationship between the three quantities in the above?
b. How would we use the normal distribution as it applies to these quantities?
Note: Reference(s) and citation where applicable
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