Store uses a periodic review inventory system

Assignment Help Operation Management
Reference no: EM131375263

One of the hot sellers for the Wonka Toy store is the Chocolate Factory Board Game. The store uses a periodic review inventory system. The review period for the board game is 1 month, while the lead time to obtain the board game is 1 week. The demand for the board game is normally distributed with a mean of 800/month and a standard deviation of 20/week. If the store uses a target inventory of 1055, what service level is being achieved? (Assume there are 4 weeks in a month).

Harvey Gold, the owner of Harvey's Specialty Shop, orders an unusual olive from the island of Santorini, off the Greek coast. Over the years, Harvey has noticed considerable variability in the time it takes to receive the orders of these olives. On average, the order lead time is four months and the standard deviation is six weeks (1.5 months). Monthly demand for the olives is normally distributed with mean 15 and standard deviation 6. Harvey is willing to accept no more than a 6 percent risk of stockout during the leadtime. Determine the Reorder point (ROP) for this data?

Reference no: EM131375263

What are some pros and cons of external recruitment

For the next section of your paper, evaluate the pros and cons of the best practices you have benchmarked in each functional area. For example, if external recruitment is a “b

Management perspective and employee perspective

In this course, you are expected to assume the “perspective” of management. Explain the difference between a "management perspective" and an "employee perspective,” and discus

Many applications of law primarily affect individuals

Many applications of law primarily affect individuals, such as buying or selling personal property. Critique the amount and kinds of protection provided to individuals and whe

Create a plan for negotiating the best finance option

Analyze the finance options available for purchasing your new home and determine the advantages and disadvantages of each option. Create a plan for negotiating the best fina

Social media had individuals personal-professional pursuits

What are some significant changes that have occurred in the way people communicate and share information? What is the impact this change has had on individuals and society loc

Materials management and physical distribution

Distinguish between materials management and physical distribution. Discuss the postponement concept as it relates to the production and logistics interface. Discuss five acti

World economy grows and becomes more interconnected

As the world economy grows and becomes more interconnected, will disrupters become more common? How will international disrupters from other countries follow Christensen's pri

There are a variety of theories of motivation

There are a variety of theories of motivation, many of which are complementary. Of the main motivational theories described in the text, which theory or theories do you thin

Reviews

Write a Review

 
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd