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Discuss the implications of the calculated safety stock

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Reference no: EM133604509

Questions:

1. Using the Demand Data, calculate the safety stock for umbrellas using appropriate statistical methods such as standard deviation or service level. Assume a desired service level of 95%.

2. Then, determine the reorder point for umbrellas using the calculated safety stock and the average demand during the lead time (time taken to replenish inventory).

3. Then, discuss the implications of the calculated safety stock and reorder point for managing inventory of umbrellas. Consider factors such as stockouts, order frequency, and inventory holding costs in your analysis.

 

 

Reference no: EM133604509

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