A product has a reorder point of 260 units,and is ordered ten times a year.The following table shows the historical distribution of demand values observed during the reorder period.
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:
Identical Twins
Genetically identical siblings conceived from the same sperm and egg, sharing 100% of their DNA.
Reared Together
Describes individuals, typically siblings or animals, who are raised in the same environment at the same time.
Polyandry
A type of marriage where a woman is simultaneously married to more than one man.
Polygyny
A form of marriage in which a man is allowed to have more than one wife.
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