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Daily demand for a product is normally distributed with a mean of 200 units and a standard deviation of 20 units.The firm currently uses a reorder point system,with a lead time of 4 days.
(a)What safety stock provides a 50% service level?
(b)What safety stock provides a 90% service level?
(c)What safety stock provides a 99% service level?
Outsourcing
The practice of delegating certain tasks or functions to external parties or contractors instead of handling them in-house.
Revocability
The capability or the right to withdraw or cancel something, such as privileges, decisions, or policies, often within a legal or contractual context.
Organizational Effectiveness
Refers to how efficiently and effectively an organization achieves its goals and meets its stakeholders' needs.
Downsizing
The process of reducing the number of employees within a company, often to cut costs or improve efficiency.
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