Explain enable them to limit the probability of a stockout, Operation Management

Assignment Help:

A wine company's daily demand is normally distributed with a mean of 18 bottles, and a standard deviation of 4 bottles. This company checks their winery's stock every 30 days. In their most recent visit, there was 25 bottles in stock. The lead time is 2 days. Can you determine an optimal order size for this company that will enable them to limit the probability of a stockout to 5%?


Related Discussions:- Explain enable them to limit the probability of a stockout

Explain long-term relationship between the inventory, The long-term relatio...

The long-term relationship between the inventory, throughput, and flow time of a production system in steady state is called which of the following?

Expalin the fundamental ethical principle, How does utilitarianism contradi...

How does utilitarianism contradict the fundamental ethical principle: the end does not justify the means?

Describe porter''s five forces model, You have been working for some time a...

You have been working for some time at UMUC Pizza, a pizza restaurant located near the UMUC campus. The owner, Bill, is very interested in expanding his successful business. He h

Explain geographical information system help companies, 1. Briefly describe...

1. Briefly describe each of the four quantitative methods used to evaluate location alternatives. 2. How does a geographical information system help companies like Red Lobster or L

Operation process design, #quwhat is operations process design?what are the...

#quwhat is operations process design?what are the factors that effect a process design?estion..

Explain in your own words an aspect of work, Describe in your own words an...

Describe in your own words an aspect of work/life balance that might be considered a NOD Numbers Only Data and the implications of that data. Describe in your own words that as

Describe what is the reorder point, The injection moulding department of a ...

The injection moulding department of a company that operates 24x7 uses an average of 20 gallons of special lubricant per day. It takes two weeks for an order of lubricant to be del

Define factors that need to be considered in media selection, There are thr...

There are three factors that need to be considered in media selection and budgeting. These include A) Audience reach, availability of the product, no competition B) Audience

Explain morale, Explain Morale. Morale: It is a measure of extent whi...

Explain Morale. Morale: It is a measure of extent which level as either high or low of voluntary cooperation illustrated by a individual or a work group and of the intensity

Write Your Message!

Captcha
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