Answer:
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Answer:
R = 2414 units
0.794
Step-by-step explanation:
Given:
Weekly demand, D = 331 units
Lead time (L)= 6 weeks
Standard Deviation (SD) = 85 units
The reorder point is calculated using the relation :
R = D*L + z*(SDw)
SDw = the standard deviation with lead time of 6 weeks ; √6 * 85 = 208.21
z = NORMSINV(0.98) = 2.05
R = (331 * 6) + (2.05 * 208.21)
R = 1986 + 428.122
R = 2414.122
R = 2414 units
The Safety stock, SS
SS = z * SDw
SS = 2.05 * 208.21
SS = 426.8305 units
60% reduction :
426.8305 * (1 - 60%)
= 170.7322
= 171 units
The new service probability ;
SS = z * SDw
171 = z * 208.21
z = 171 / 208.21
z = 0.82
P(Z < 1.02) = 0.7938 = 0.794 = 79.4%
403446 is around 400000 so you round that up in your head. 396755 is close to 400000 so you round that up in your head to. Then you add them together to get 800000, which you can do in your head.
23 is the middle number from 12 to 34.
