Quick Lube Inc. operates a fast lube and oil change garage. On a typical day, customers arrive at the rate of three per hour and lube jobs are performed at an average rate of one every 15 minutes. The mechanics operate as a team on one car at a time. Assuming Poisson arrivals and exponential service, finda. Utilization of the lube team.b. The average number of cars in line.c. The average time a car waits before it is lubed.d. The total time it takes to go through the system (that is, waiting in line plus lube time).

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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.