• What is the Reorder Point (ROP)?• What is the fill rate?What is the average inventory?• What is the average flow time?Given Data:Coefficient of variation (CV) = 0.24Average weekly demand = 540 unitsStandard deviation = 130 unitsLead time=2Lot size = 1641Safety inventory:NORMSINV(0.95)= 1.64Standard deviation * sqrt(2) * 1.64130*√√2*1.64301.51 301= 301 units

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Answered: What is the Reorder Point (ROP)? What…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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What is the Reorder Point (ROP)? What is the fill rate? What is the average inventory? What is the average flow time? Given Data: Coefficient of variation (CV) = 0.24 Average weekly demand = 540 units Standard deviation = 130 units Lead time=2 Lot size=1641