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Daily demand for a product is 90 units, with a standard deviation of 20 units. The review...

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General Management

Daily demand for aproduct is 90 units, with a standard deviation of 20 units. Thereview period is 10 days and the lead time is 8 days. At the timeof review there are 70 units in stock.

If 99 percent serviceprobability is desired, how many units should be ordered?(Use Excel's NORMSINV() function to find the correctcritical value for the given ?-level. Do not roundintermediate calculations. Round "z" value to 2 decimalplaces and final answer to the nearest whole number.)

  Ordered quantityunits

Answer & Explanation Solved by verified expert
3.6 Ratings (397 Votes)
Z value for 99 percent of service probability NORMSINV 099 2326 Given are following data Lead time 8 days Review period 10 days Therefore Protection period Lead time    See Answer
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