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A retail shop sells 500 pairs of shoes each year. Each pair of shoes is priced at $50. Suppose that the shop can get each pair of shoes from their supplier at $20 and the ordering cost, regardless of quantity, is $50. The lead time for each order is 7 calendar days. The annual holding cost of each pair of shoes is $2. Assuming that the demand is uniform across the year:
a) Compute the economic order quantity.
b) Compute the reorder point.
This framework helps managers to think through the difficult task of managing customers that are very different. Using this framework, what is different about serving customers in the “northeast” quadrant as compared with those in the “southwest?”
An electronic component has design specification limits of 215±25 mhz. Due to variation in the parts that goes into this component, the actual yield varies. A sample of 100 indicated a mean of 220 mhz and standard deviation of 7 mhz. Find the Process..
What lessons do you derive from the hits and misses in Wal-Mart's global expansion? What, if anything, would you have done differently if you were running the company? What recommendations would you give Wal-Mart's leadership for the next ten years?
Gold Star Delicacies makes small-batch jams and jellies. Their workspace and equipment cost them $2600 per month in loans, and operating costs total an additional $700 per week. Find the break-even point for how many batches of jam they must sell in ..
Why do all the business units in an organization that use technology need to be involved in developing management information systems? How does that relate to the goal that a “knowledge-management repository” can be used throughout the organization?
Discuss the reasons why organizations do not always conduct a needs analysis and what a trainer might do to overcome needs analysis obstacles. What are the implications of designing and implementing a training program without conducting a needs analy..
Does the optimal solution change if the profit per unit of X changes to $4.50? What happens if the profit function should have been $3X + 3Y?
Your textbook describes some members of groups facing becoming "social loafers" when members of groups. Economists refer to this as "free-riding".
2. The plans of management are often expressed formally in: A) financial statements. B) performance reports.
State the professional members of the courtroom workgroup and explain their roles.
what are the importance of technology in assisting to achieve organizational goals in a better and systematic way? Further will it affect employees’ engagement level due its transparency in all processes?
It is performance appraisal time and you must plan interviews with you subordinates. Your subordinates fall into one of three categories: (1) effective performers who have potential for advancement; (2) effective performers who lack motivation or abi..
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