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Weekly demand for 12" frames at the Frame Shop is normally distributed with a mean of 250 and a standard deviation of 150.The store manager has decided to follow a periodic review policy to manage inventory of cell phones.They plan to order every three weeks.The manufacturer currently takes two weeks to fill an order.Given a desired CSL of 95 percent,how much safety inventory should the store carry? What should their OUL be?
Forward Contract
A financial contract between two parties to buy or sell an asset at a specified future time at a price agreed upon today, not traded on an exchange.
Exchange Gain
A profit resulting from foreign currency transactions when the value of the currency received is higher than the value of the currency exchanged at the transaction rate.
Spot Rate
The current market price for immediate settlement of a currency exchange, commodity, or security.
Singapore Dollars (SGD)
The official currency of Singapore, represented by the symbol S$.
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