When should the raw material be reordered, Marketing Management

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When should the raw material be reordered

Problem

A shop owner uses a reorder point approach to restocking a certain raw material. Lead time is 6 days. Usage of the material is normally distributed with a mean of 80 pounds per day and a standard deviation of 6 pounds. When should the raw material be reordered if the acceptable risk of a stockout is 4% (Customer service level is 96%)?

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Marketing Management: When should the raw material be reordered

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