Determine the re-order point-safety stock, Operation Management

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Determine the re-order point-safety stock

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Q: A pharmacy dispenses a generic drug at an average rate of 50 milligrams per day. An examination of pharmacy records suggests that daily demand is approximately normal and has a standard deviation of 5 milligrams per day. Lead time is four days, and the pharmacist wants a stock-out risk that does not exceed 1 percent.

a. Determine the re-order point (ROP)

b. How much safety stock should be carried?

c. What service level would a re-order point of 215 mg provide?

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Operation Management: Determine the re-order point-safety stock

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Operation Management: Determine the re-order point-safety stock

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