Reference no: EM132184523
1. Below are seven factors that must be considered before finalizing a schedule. Explain how a baseline schedule can change as a result of each of these:
a. Introduction or acceptance of the product in the marketplace. b. Present or planned manpower availability. c. Economic constraints of the project. d. Degree of technical difficulty. e. Manpower availability. f. Availability of personnel training. g. Priority of the project.
2. Find an example of a product you have recently purchased. Identify the logistics tasks that would have to take place in order for the product to be available for you to have the ability to purchase it. Be sure to discuss:
B. Material handling
D. Inventory control
E. Order fulfillment
3. The annual demand for a product is 15,600 units. The weekly demand is 300 units with a standard deviation of 90 units. The cost to place an order is $31.20, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.10 per unit.
a. Find the reorder point necessary to provide a 98 percent service probability. (Use Excel's NORMSINV() function to find the correct critical value for the given ?-level. Round "z" value to 2 decimal places.)
b. Suppose the production manager is asked to reduce the safety stock of this item by 50 percent. If she does so, what will the new service probability be? (Use Excel's NORMSDIST() function to find the correct probability for your computed Z-value. Round "z" value to 2 decimal places and final answer to 1 decimal place.)