In a system with 4 servers and a single queue, jobs arrive at a rate of 8 per hour following a Poisson distribution. Service rate is 3 jobs per hour. If the probability that the system is empty is 10%, what is the average number of jobs waiting to be processed? O 1.25 around 8 jobs O around 14 jobs around 5 jobs around 12 jobs

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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.