on an average of once every 8 working​ days, and breakdowns tend to follow a Poisson distribution. The mechanic can handle an average of two repair jobs per day. Repairs follow a negative exponential distribution. Finite population Use queue model D ​a) On the​ average, how many machines are waiting for​service? The average number of machines waiting for service is ????? ​(Round your response to three decimal​ places.) ​b) On the​ average, what is the waiting time to be​serviced? The average waiting time to be serviced is ????? days. ​(Round your response to two decimal​ places.)

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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.