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Christian runs a small chocolate shop. He manages his chocolate raw material using a periodic review system. Daily demand has a mean of 100 pounds and standard deviation of 10 pounds. The annual holding cost is $10 per pound. He maintains 98% service level. The lead-time to get more chocolate is 10 days and he reviews his raw material inventory monthly. (Assume that there are 30 days per month.)
a. What is the expected inventory level for Christian chocolate raw material? (7 points)
b. A management consultant has told Christian that, by installing an IT system, the review period could be cut from one month to one week. How much would Christian be willing to pay for this IT system? (Hint: to simplify the problem, you can assume that the price Christian wants to pay is the saving he can achieve from using this IT system for a year.)
The owner of Genuine Subs, Inc., hopes to expand the present operation by adding one new outlet. She has studied three locations. Each would have the same labor and materials costs of $1.60 cents per sandwich.
What are the forces for global convergence in a labor system? What are the forces for a labor system to maintain divergence or establish a divergent system?
• How can she be sure of her judgment? • How can she convince the marketers? • How should she act in this situation?
What is the forecast for the Period 7 using a 3-period weighted moving average technique (use a weight of 3 for last period's value, a weight of 2 for the period before
What are some of the limitations or dangers you see in the use of AI technologies such as expert systems, virtual reality, and intelligent agents? What could be done to minimize such effects?
What is the purpose of outsourcing? How can it be helpful to a company's growth? How can it be harmful? Give examples to support your answer.
which of the following is not a reason that time standards are necessary?
What is the mean time in hours that a customer spends in the system and What is the mean utilization percentage of the call center employee answering the phones (the server in this system)?
Explain the relationship between a specific purpose and a thesis statement. Can they be the same? Why or why not? Write an example of a specific purpose statement. Now, write a corresponding thesis statement (use different wording for the two).
The firm terminates Steven so that they can put the old secretary back in her job. Steven asks you what you think he should do. What do you say?
After you have examined the top ten listening skills, identify how they help with customer loyalty. In your opinion, what are the most important ways in which you listen? Why is listening so important in customer service?
1. student tuition at abc university is 150 per semester credit hour. the state supplements school revenue by matching
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