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Fashion Retail Supply Chain Management
book

Fashion Retail Supply Chain Management

by Tsan-Ming Choi
May 2014
Intermediate to advanced content levelIntermediate to advanced
122 pages
4h 18m
English
CRC Press
Content preview from Fashion Retail Supply Chain Management
38 Fashion Retail Supply Chain Management
The product’s demand y follows a normal distribution with mean 100, and standard
deviation of 30. The optimal order quantity for this fashion product can be found as
follows:
First,
r c
r v
=
220 80
220 70
=93.3%.
Second, since the demand follows the normal distribution, we have the following
formula to find the inverse function of the cumulative distribution function:
If F(·) is a normal distribution with mean µ and variance σ
2
, then F
1
(z) can be
expressed as: µ +σ
1
(z), where
1
(·) is the inverse function of the standard normal
cumulative distribution function.
Thus, the optimal ordering quantity for ...
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Publisher Resources

ISBN: 9781138000285