Business, 20.04.2021 20:40 PhJesus

Problem 11-29 A distributor of large appliances needs to determine the order quantities and reorder points for the various products it carries. The following data refer to a specific refrigerator in its product line: Cost to place an order $ 100 Holding cost 20 percent of product cost per year Cost of refrigerator $ 500 each Annual demand 500 refrigerators Standard deviation of demand during lead time 10 refrigerators Lead time 7 days Consider an even daily demand and a 365-day year. a. What is the economic order quantity? (Round your answer to the nearest whole number.) Economic order quantity refrigerators b. If the distributor wants a 97 percent service probability, what reorder point, R, should be used? (Use Excel's NORMSINV() function to find the z value. Do not round intermediate calculations. Round z value to 2 decimal places and final answer to the nearest whole number.) Reorder point refrigerators

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Problem 11-29 A distributor of large appliances needs to determine the order quantities and reorder...

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