A store uses a periodic inventory model. It places orders every twenty-one days and has a shipment lead time of fur days
Posted: Wed Jul 06, 2022 6:07 am
A store uses a periodic inventory model. It places orders everytwenty-one days and has a shipment lead time of fur days. The dailydemand, d, is normally distributed with a mean of 50 units andstandard deviation of 18 units. At a certain order-placing episodeit determines that it has 268 units in stock; what should be hisorder amount? What would be your estimate of its average maximuminventory and average minimum inventory?