In a P system, the lead time for a box of weed-killer is 2 weeksand the review period is 1 week. Demand during the protec-tion interval averages 218 boxes, with a standard deviation of40 boxes.a. What is the cycle-service level when the target inventory isset at 300 boxes?b. In the fall season, demand for weed-killer decreases but alsobecomes more highly variable. Assume that during the fallseason, demand during the protection interval is expectedto decrease to 180 boxes, but with a standard deviation of50 boxes. What would be the cycle-service level if manage-ment keeps the target inventory level set at 300 boxes?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
In a P system, the lead time for a box of weed-killer is 2 weeks
and the review period is 1 week. Demand during the protec-
tion interval averages 218 boxes, with a standard deviation of
40 boxes.
a. What is the cycle-service level when the target inventory is
set at 300 boxes?
b. In the fall season, demand for weed-killer decreases but also
becomes more highly variable. Assume that during the fall
season, demand during the protection interval is expected
to decrease to 180 boxes, but with a standard deviation of
50 boxes. What would be the cycle-service level if manage-
ment keeps the target inventory level set at 300 boxes?
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