Using the Fixed-Time-Period Inventory Model, and Given an Average Daily

question 75

Multiple Choice

Using the fixed-time-period inventory model, and given an average daily demand of 75 units, 10 days between inventory reviews, 2 days for lead time, 50 units of inventory on hand, a service probability of 95 percent, and a standard deviation of demand over the review and lead time of 8 units, which of the following is the order quantity?

• A) 863
• B) 948
• C) 1,044
• D) 1,178
• E) 4,510

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Definitions:

Firm-specific Human Capital

Refers to the unique skills, knowledge, and abilities employees develop that are specifically valuable to their current employer.

Generic Human Capital

The competencies, knowledge, skills, and abilities that are held by individual employees and that are useful to the firm.

Succession Management

A strategic process for identifying and developing new leaders who can replace old leaders when they leave, are promoted, or retire.

Human Capital Flows

The movement of skills, knowledge, and talents among regions, industries, or organizations, influencing productivity and growth.