How did the different transit times reported in question 4 affect the overall lead time for the

How did the different transit times reported in question 4...

Key Concepts

Transit Time

Transit time refers to the duration that goods spend in movement between two points in the supply chain. It encompasses the time taken for transportation from the supplier to the retailer or destination, and is a critical factor in planning and logistics. Variations in transit time can be due to differences in shipping methods, routes, or unforeseen delays, and have direct implications on scheduling and inventory management.

Lead Time

Lead time is the overall period from the initiation of a process, such as placing an order, to the final delivery of goods or services. In the context of sourcing, it includes the time taken for processing the order, production if applicable, and the transit time. A longer lead time can impact the ability of a sourcer to respond quickly to market demands, while a shorter lead time can enhance supply chain responsiveness.

Impact of Transit Time Variability

Variability in transit times can affect overall lead time by introducing uncertainty into the supply chain. When transit times differ, it may lead to inconsistencies in delivery schedules, causing disruptions or delays in the sourcing process. This can affect inventory planning, increase the need for safety stocks, and ultimately influence customer satisfaction and operational efficiency.

Transcript

00:01 We're going to be referring to the one -way travel and work in minutes between six different cities.

00:09 It's called the morning rush in the textbook as i think it's table 12 .2 at references, but it's looking at samples from workers whose commute during the 8 a .m.

00:21 Rush hour.

00:22 So again, it's one -way travel.

00:24 So you have atlanta, boston, dallas, philadelphia, seattle, and st.

00:28 Louis.

00:28 And we're being asked to look at how you can show that there are significant differences among the means of the different cities.

00:36 So how you would go about doing this is you would first have to find the averages.

00:42 So what you would do is in that graph for atlanta.

00:55 So you have atlanta, you have boston, you have dallas, you have philadelphia, you have seattle, and you have st.

01:17 Louis.

01:20 So we're looking to see if you can show a significant difference among the means for the six cities.

01:27 So what you would do is those numbers are just samples that were provided.

01:34 So we would need to find the mean or mu of each of these.

01:38 So simply what you would do is add the values and then divide by the n, so the number of times.

01:44 So for atlanta, it would be 29 plus 21 plus 20 plus 15 plus 37 plus 26.

01:51 And that would give you 148.

01:55 But then again, we're finding the means.

01:56 We have to find the average.

01:57 So there is one, two, three, four, five, six sample sizes.

02:03 So you divide by six.

02:04 So your average or mean is going to be 24 .67...

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