Benny’s Arcade has six video game machines. The average time between machine failures is 50 hours. Jimmy, the maintenance engineer, can repair a machine in 15 hours on average. The machines have an exponential failure distribution, and Jimmy has an exponential service-time distribution.a. What is Jimmy’s utilization?b. What is the average number of machines out of service, that is, waiting to be repaired or being repaired?c. What is the average time a machine is out of service?

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Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.