Compare ss for the q and the p system

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Your firm uses a continuous review (Q) system and operated 52 weeks per year. One of the items has following characteristics:

Demand = 20,000 units/year

Ordering cost = $40/order

Holding cost = $2/unit/year

Lead Time = 2 weeks

Cycle Service Level = 95%

Demand is normally distributed with a standard deviation of weekly demand of 100 units. Current on-hand inventory is 1040 units with no scheduled receipts or backorders.

Suppose that your firm uses a Periodic Review System but otherwise all the information is the same as Part C.

• Calculate the P that gives approximately the same number of orders per year as the EOQ. Round down your answer to the nearest week.

• Find the SS and T corresponding to the 95% service level.

• Compare SS for the Q and the P system. Which one has a bigger SS. Explain why.

Reference no: EM131257309

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