ISE553 MODELLING AND ANALYSIS OF SUPPLY CHAINS Spring 2014 Dr. Reha Uzsoy Homework 2 - due 11:55PM, Tuesday January 27, 2015 Use the Excel workbook Spring2012HW2Data.xlsx to solve the following problems: Problem 1: Demand for a seasonal inventory item is estimated to follow a Gamma distribution with mean 150 units and standard deviation 50 units. Due to its seasonal nature and long delivery lead time, the item must be ordered before demand can be observed, and any inventory remaining at the end of…
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