Consider a system of two infinite queues in series, where each service facility has a server. All service times are independent and have an exponential distribution with a mean of 3 min at facility 1 and 4 min at facility 2. Facility 1 has Poisson inputs with a mean rate of 10 per hour. Find the total expected number of customers in the system and the total expected waiting time (with service) for a customer.

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Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.