If 99 percent service probability is desired, how many units should be ordered? Note: Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places and final answer to the nearest whole number. Ordered quantity units
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- Daily demand for a product is 50 units, with a standard deviation of 35 units. The review period is 5 days and the lead time is 4 days. At the time of review, there are 60 units in stock. If 95 percent service probability is desired, how many units should be ordered? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.) *563 and 564 are not the correct answerThe annual demand for a product is 15,200 units. The weekly demand is 292 units with a standard deviation of 80 units. The cost to place an order is $33.50, and the time from ordering to receipt is two weeks. The annual inventory carrying cost is $0.10 per unit. a. Find the reorder point necessary to provide a 90 percent service probability. (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Round "z" value to 2 decimal places.)\ b. Suppose the production manager is asked to reduce the safety stock of this item by 45 percent. If she does so, what will the new service probability be? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Round "z" value to 2 decimal places and final answer to 1 decimal place.)The annual demand for a product is 14,500 units. The weekly demand is 279 units with a standard deviation of 85 units. The cost to place an order is $32.00, and the time from ordering to receipt is six weeks. The annual inventory carrying cost is $0.20 per unit. a. Find the reorder point necessary to provide a 95 percent service probability. (Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places.) b. Suppose the production manager is asked to reduce the safety stock of this item by 55 percent. If she does so, what will the new service probability be? (Use Excel's NORM.S.DIST() function to find the correct probability for your computed z value. Round "z" value to 2 decimal places and final answer to 1 decimal place.)
- Daily demand for a product is 50 units, with a standard deviation of 35 units. The review period is 5 days and the lead time is 4 days. At the time of review, there are 60 units in stock. If 95 percent service probability is desired, how many units should be ordered? (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.)The annual demand for a product is 15,600 units. The weekly demand is 300 units with a standard deviation of 90 units. The cost to place an order is $32.00, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.20 per unit. Find the reorder point necessary to provide a 98 percent service probability then suppose the production manager is asked to reduce the safety stock of this item by 55 percent. If she does so, what will the new service probability be? Use Excel's NORM.S.INV() function to find the z value and probability.Annual demand for a product is 13,000 units; weekly demand is 250 units with a standard deviation of 40 units. The cost of placing an order is $100, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.65 per unit. To provide a 98 percent service probability, what must the reorder point be? Suppose the production manager is told to reduce the safety stock of this item by 100 units. If this is done, what will the new service probability be?
- Daily demand for a product is 138 units, with a standard deviation of 36 units. The review period is 10 days and the lead time is 6 days. At the time of review, 58 units are in stock. If 98% service probability is desired (corresponding z = 2.05), how many units should be ordered? (please rounded to integer)At Dot Com, a large retailer of popular books, demand is constant at 20,400 books per year. The cost of placing an order to replenish stock is $75, and the annual cost of holding is $6.00 per book. Stock is received 6 working days after an order has been placed. No backorder is allowed. Assume 250 working days a year. **(Enter your response rounded to the nearest whole number.)** Dot Com's optimal order quantity is ______ books. What is the optimal number of orders per year? What is the optimal enterable quotation in working days quotation between orders? What is the demand during the lead time? What is the reorder Point? What is the inventory position immediately after an order has been placed?The annual demand for a product is 15,600 units. The weekly demand is 300 units with a standard deviation of 90 units. The cost to place an order is $31.20 and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.10 per unit. Find the reorder point necessary to provide a 98 percent service probability. Suppose the production manager is asked to reduce the safety stock of this item by 50 percent. If she does so, what will the new service probability be?
- The annual demand for a product is 15,200 units. The weekly demand is 292 units with a standard deviation of 80 units. The cost to place an order is $33.50, and the time from ordering to receipt is two weeks. The annual inventory carrying cost is $0.10 per unit. The reorder point is 730. Suppose the production manager is asked to reduce the safety stock of this item by 45 percent. If she does so, what will the new service probability be? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Round "z" value to 2 decimal places and final answer to 1 decimal place.) *The answer is not 28% or 42% or 58% or 71% or 86.6% or 90%Consider a periodic review system, where orders are placed every 20 days. The firm strives to provide a 94.41% cycle service level. Demand averages 415 units per day, and the standard deviation of demand per day is 105 units. Lead time is 12 days (round Z-values, standard deviations to two decimal places). Question content area bottom Part 1 a. How many units of safety stock should be held? enter your response here units (round your response to the nearest integer). b. What should the target inventory level (order-up-to level) be? enter your response here units (round your response to the nearest integer). c. Suppose that it is time to review the item. There are 152 units in inventory, and there is an outstanding backorder for 455 units. An order for 129 units is on the way. How many units should be ordered now? enter your response here units (round your response to the nearest integer).Please do not give solution in image format thanku A mail-order house uses 16,820 boxes a year. Carrying costs are 60 cents per box a year, and ordering costs are $96. The following price schedule applies. Number of Boxes Price per Box 1,000 to 1,999 $1.25 2,000 to 4,999 1.20 5,000 to 9,999 1.15 10,000 or more 1.10 a. Determine the optimal order quantity. (Round your answer to the nearest whole number.) Optimal order quantity boxes b. Determine the number of orders per year.