A product has a reorder point of 260 units,and is ordered ten times a year on average.The following table shows the historical distribution of demand values observed during lead time.
Currently,stockouts are valued at $5 per unit per occurrence,while inventory carrying costs are $2 per unit per year.Should the firm add safety stock? If so,how much safety stock should be added?
Definitions:
Origins
The point or place where something begins, arises, or is derived; often used in reference to the beginning of the universe, life, or specific theories and ideas.
Noncontrol
A state or situation where there is no control or regulation.
Competence
The ability or capacity to perform a task effectively and efficiently.
Interact Effectively
The ability to communicate and work with others in a way that is productive and mutually beneficial.
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