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Question
Jaes Shoes is considering a change of their current inventory control system for sneakers. The information regarding the neckties is: Demand = 1000 pairs/week; Lead time = 3 weeks; Order cost = $20/order; Holding cost = $10.00/pair/yr; Cycle service level = 95%; Standard deviation of weekly demand = 48; and Number of weeks per year = 52. To calculate the relative frequency use the following values: _____.
a. Number of Days and Standard Deviation of Weekly Demand
b. Units Sold and Demand
c. Units Sold and Number of Days
d. Lead Time and Holding Cost
Answer
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