més háš pláčėd áh óř the past, Ms. James has placed an order whenever the stock got down to 150 caps. What level of service does this reorder point correspond to? What would the reorder point and safety stock need to be to achieve the desired
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
![Question 2
an estimate of the number of times a customer wanted a
The Texas Gladiators won the Super Bowl last year. As a
cap when it was not available but did not aşk for it.)
result, sportswear such as hats, sweatshirts, sweat-
pants, and jackets with the Gladiator's togo are popular.
The Gladiators operate an apparel store outside the foot-
ball stadium. It is near a busy highway, so the store has
heavy customer traffic throughout the year, not just on
game days. In addition, the stadium has high school or
Week
Demand
Week
Demand
Week
Demand
1
38
11
28
21
52
2
51
12
41
22
38
3
25
13
37
23
49
4
60
14
44
24
46
college football and soccer games almost every week in
the fall, and baseball games in the spring and summer.
The most poputar single item the stadium store sells is a
red and silver baseball-style cap with the Gladiators' logo
on it. The cap has an elastic headband inside it, which
conforms to different head sizes. However, the store has
5
35
15
45
25
47
42
16
56
26
41
29
17
62
27
39
8
46
18
53
28
50
9
55
19
46
29
28
10
19
had a difficult time keeping the cap in stock, especially
during the time between the placement and receipt of an
order. Often customers come to the store just for the hat;
when it is not in stock, customers are upset, and the store
20
41
30
34
The store purchases the hats from a small manufac-
Jamaica. The shipments from Jamaica
management believ
stores to purchase their Gladiators' clothing. To rectify
this problem, the store manager, Jessica James, would
like to develop an inventory control policy that would
ensure that customers would be able to purchase the cap
99% of the time they asked for it. Jessica has accumu-
they tend to go to other competing turing company
are erratic, with a lead time of 20 days.
In the past, Ms. James has placed an order whenever
the stock got down to 150 caps. What level of service does
this reorder point correspond to? What would the reorder
point and safety stock need to be to achieve the desired
service level? Discuss how Jessica James might deter-
mine the order size of caps and what additional, if any,
lated the following demand data for the cap for a 30-week
period. (Demand includes actual sales plus a record of
the times a cap has been requested but not available and
information would be needed to determine the order size.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97a48cba-3a8c-4559-a1d4-f8bd229e2cbe%2Fd5622ce3-f871-4555-8de6-8b7816fb9844%2F7d8osbx_processed.jpeg&w=3840&q=75)
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