Calculate the reorder point using a in-stock probability, Operation Management

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Calculate the reorder point using a in-stock probability

Problem

The demand for an item is normally distributed with an average annual demand of 8000 units and with a standard deviation of demand during the lead time of 6 units. The lead time for this item is a constant 3 days. Calculate the reorder point using a 95 percent in-stock probability (Z = 1.65) and assuming 365 days per year.

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Operation Management: Calculate the reorder point using a in-stock probability

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