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Hi Tutor
Could you give me an explanation for the formulas:
Minimum level = reorder level – (avg usage x avg lead time
Maximum level = reorder level + reorder quantity – (min usage x min lead time)
Thanks a lot
You can find an explanation by watching the revision lectures on inventory control.
https://opentuition.com/acca/f2/acca-f2-revision-part-7-inventory-control/
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