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Question
Using the data regarding the inventory management of a stock-keeping unit shown in the following table, it can be concluded that the economic time interval for establishing an optimal policy for a fixed-period system (FPS) under the model assumptions is:
| Demand | 12,000 units per year |
| Order Cost | $50 per order |
| Inventory-Holding Cost | $0.5 per unit per year |
| Lead Time | 2 weeks |
| Standard Deviation in Weekly Demand | 7 |
| Service Level | 95 percent |
a. less than or equal to 3 weeks.
b. more than 3 weeks but less than or equal to 6 weeks.
c. more than 6 weeks but less than or equal to 9 weeks.
d. more than 9 weeks.
Answer
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