D7 A logistics company applies the EOQ model to manage its inventory of spare partsused for maintenance work for their trucks. Daily demand is normally distributed.The average daily demand is 10 units, with a standard deviation of 5 units. The EOQis found to be 400 units and used as the order size for all orders. Order lead time is 4days.Currently, the firm has just received an order. In how many days do they need toplace the next order?4 days36 days40 daysNone of the above. Demand is random, so the time until they reach the ROPagain is also random

EOQ is an ordering technique under which a company orders a determined amount oif units and gets to…

Answered: A logistics company applies the EOQ…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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