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The information technology department of State University buys paper for its copier machine frequently. The office manager would like to determine the best quantity to order each time an order is placed. She has estimated that the ordering cost is $12 each time an order is placed. The monthly demand for paper is 135 reams (500 sheets to a ream). The cost of paper is $6.50 per ream, and the carrying cost is 25 percent of the paper cost per month. Base your answers to the following questions on the economics that are provided and using the traditional inventory models we have studied.
a) How many reams should be ordered at a time?
b)Suppose the information technology department of the university only has space to hold 35 reams of paper at any time. How many reams should be ordered at a time? Why?
c) There are 350 working days per year and the lead time is 3 days. What are the reorder point and the inventory position immediately after placing the order?
d) If the university were to order at least 60 reams of paper every time it places an order, the paper company will lower the price of the paper by $0.33 for all reams of paper. The university can now acquire all of the storage space that it needs. However, it will cost the university an additional $1.00 per ream per month for storage. What is the difference in the annual inventory cost between this policy and the policy found in a)? Consider all relevant costs.
Superior Products Inc. is considering two potential equipment alternatives for production of their best selling product line. Option 1 involves proven equipment: Fixed cost investment of $800,000 Variable cost of $45/unit.
The primary function of human resource management is to increase the effectiveness and contribution of employees in the attainment of organizational goals and objectives. Consider all the areas of HRM that have been discussed in class:
How do Loews' training programs relate to the company's business strategy? If you were the database administrator for the iTunes store, how might you use predictive analysis to determine which artists and movies will sell most next year?
Illustrate what are elements of a comprehensive compensation also benefits package. Illustrate what are some of typical considerations for elucidate how organizations position compensation also benefits.
memo in which you advise the board of directors how to correct past problems and set up more responsible governance, especially in implementing a stakeholder perspective on doing business.
Clocks sell for $15, radios, for $20, and toasters, for $12. The company desires to know the optimal product mix that will maximize profit.
Pepsi uses six-sigma technique to evaluate whether its 15 oz Gatorade has consistent weight. Pepsi took a sampling of 1000 15 oz Gatorade and found out that the average weight was 15.12 oz with a standard deviation of 0.3 oz. Pepsi considers a to..
Computes critical ratios for subsequent activities also specify which activities are probably on targeting also which need to be investigated. Comment on every activity. Elucidate what is your overall interpretation of this result.
receive customer order from Counter Employee, retrieve uncooked food, drop food into fry vat, wrap cooked food into special packaging
When the partnership is dissolved, its assets are $50,000, and its debts are $8,000. How should the assets be distributed? Be very specific as to the order of who gets paid what amounts when and why.
A vending machine dispenses hot chocolate or coffee. Service time is 30 seconds per cup and is constant. Customers arrive at a mean rate of 78 per hour, and this rate is Poisson-distributed.
A manager has learned that annual profits from four alternatives being considered for solving a capacity problem are projected to be $15,000 for A, $30,000 for B, $45,000 for C, and $60,000 for
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