In a periodic review system when an order is placed every 14 days, the uncertainty period is 22 days.
Lead time is the time that passes from the start to the conclusion. It helps in measuring the time taken to complete a project. It varies from industry to industry.
It is normally calculated as:
Lead time = processing time + post-processing time.
Given,
lead time = 8 days
Order place date = 14 days
uncertainty period = order date + lead time
uncertainty period = 14 + 8 = 22 days
So, we can say that in a periodic review system when an order is placed every 14 days, the uncertainty period will be 22 days.
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