Homework Help is Here – Start Your Trial Now!
Business
Operations Management
Weekly Average Demand 210 Standard deviation of (weekly) demand 30 Setup cost ($) 1000 Lead time (in weeks) 2 Procurement cost ($) 300 Holding cost /unit/week ($) 4 You are given the demand and inventory related information about a grocery store's product in the table. The store is open for 53 weeks in a year. What is the reorder point if it wants to achieve a service level of 98% ? (Do not round your intermediate calculations. Round your final answers to the nearest whole number. Only enter a number. Do not enter any units. posted.)

Weekly Average Demand 210 Standard deviation of (weekly) demand 30 Setup cost ($) 1000 Lead time (in weeks) 2 Procurement cost ($) 300 Holding cost /unit/week ($) 4 You are given the demand and inventory related information about a grocery store's product in the table. The store is open for 53 weeks in a year. What is the reorder point if it wants to achieve a service level of 98% ? (Do not round your intermediate calculations. Round your final answers to the nearest whole number. Only enter a number. Do not enter any units. posted.)

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
See similar textbooks
icon
Related questions
Question
Help me understand how to do this problem
You Answered Correct Answers Weekly Average Demand Standard deviation of (weekly) demand Setup cost ($) Lead time (in weeks) Procurement cost ($) Holding cost /unit/week ($) You are given the demand and inventory related information about a grocery store's product in the table. The store is open for 53 weeks in a year. What is the reorder point if it wants to achieve a service level of 98% ? (Do not round your intermediate calculations. Round your final answers to the nearest whole number. Only enter a number. Do not enter any units. posted.) 347 210 30 1000 2 300 4 507 (with margin: 3) Recall that the reorder point is equal to expected demand during lead time + stdev during lead time x z_value of the service level
Transcribed Image Text:You Answered Correct Answers Weekly Average Demand Standard deviation of (weekly) demand Setup cost ($) Lead time (in weeks) Procurement cost ($) Holding cost /unit/week ($) You are given the demand and inventory related information about a grocery store's product in the table. The store is open for 53 weeks in a year. What is the reorder point if it wants to achieve a service level of 98% ? (Do not round your intermediate calculations. Round your final answers to the nearest whole number. Only enter a number. Do not enter any units. posted.) 347 210 30 1000 2 300 4 507 (with margin: 3) Recall that the reorder point is equal to expected demand during lead time + stdev during lead time x z_value of the service level
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 4 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Practical Management Science
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Operations Management
Operations Management
Operations Management
ISBN:
9781259667473
Author:
William J Stevenson
Publisher:
McGraw-Hill Education
Operations and Supply Chain Management (Mcgraw-hi…
Operations and Supply Chain Management (Mcgraw-hi…
Operations Management
ISBN:
9781259666100
Author:
F. Robert Jacobs, Richard B Chase
Publisher:
McGraw-Hill Education
Business in Action
Business in Action
Operations Management
ISBN:
9780135198100
Author:
BOVEE
Publisher:
PEARSON CO
Purchasing and Supply Chain Management
Purchasing and Supply Chain Management
Operations Management
ISBN:
9781285869681
Author:
Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:
Cengage Learning
Production and Operations Analysis, Seventh Editi…
Production and Operations Analysis, Seventh Editi…
Operations Management
ISBN:
9781478623069
Author:
Steven Nahmias, Tava Lennon Olsen
Publisher:
Waveland Press, Inc.
SEE MORE TEXTBOOKS