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Annual demand for number 2 pencils at the campus store is normally distributed with mean 1,000 and standard deviation 250. The store purchases the pencils for 6 cents each and sells them for 20 cents each. There is a two-month lead time from the initiation to the receipt of an order. The store accountant estimates that the cost in employee time for performing the necessary paperwork to initiate and receive an order is $20, and recommends a 22% annual interest rate for determining holding cost. The cost of a stockout is the cost of lost profit plus an additional 20 cents per pencil, which represents the cost of loss of goodwill. a. Find the optimal values of Q and R. b. Substitute a Type 1 service level criterion of 95% for the stock-out cost. Find the values of Q and R. c. Substitute a Type 2 service level criterion of 98% for the stock-out cost. Assume that Q is given by the EOQ. Find the values of Q and R.
A process is in control and centered at nominal. Output from the process is normally distributed and the process capability index, Cp, equals 1.02.
illustrate what is the epmo metric also explain how does it compare with a six-sigma level. Explain the importance of an efficient directory structure also relate a scenario which will justify your explanation.
Students analyze the data in the scenario to find out the specific needs of the customer. Learning Teams must select also explain why one of the contractors is superior at meeting the needs of the customer.
Sociology majors or business majors? Are some nationalities/cultural groups/personality types more likely to lie and cheat in negotiations?
Jim is a CFO of a mid-sized construction company. One of his key tasks is to ensure that the company has sufficient cash to pay its daily and hourly workers who are hired whenever need arises.
Company ABC received an order to produce 16 units of a new product. An 80% improvement curve was expected for this project.
To meet investor objectives, management seeks to do which of the following in its present operations as well as shift investment from areas with declining returns to those where improvement is anticipated
According to an investigation published in the Archives of Internal Medicine, since the digitalization of medical records:
From this fast food case illustrate what process do you think is the most efficient and why. Which competitive dimensions has each firm selected for their process and which focus dimensions have they traded-off.
Discuss the two major risks of using international strategies. Define the strategies in terms of your growth plan.
Why should or should not P&G compete in the green shampoo category? (Support your argument for either decision you think they should choose.)
Your company has an average annual inventory of $70 million. Its annual cost of goods sold (COGS) is $560 million. Order costs are $195 per order, and inventory carrying costs are estimated at 23%.
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