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Modern Furniture Stores sells modern coffee tables. The expected demand for next months is 500 coffee tables. Tables are handmade in Seattle. The cost of ordering a set of tables is $500. In addition the average cost of storing a coffee table is $150. The time between placing an order and receiving it at the store is 5 days. Finally daily standard deviation for the demand is estimated as 0.5 tables per day. a. Find the reordering point. b. What would be the safety stock required for a 95% customer service level? c. What would be the yearly cost of carrying the safety stock during the year? d. What would be the new reorder point? The manufacturer offers the following purchasing options: Units Price 0-99 1,000 100-299 950 300-499 900 500-999 850 1000+ 800 a. Find the order quantity that minimizes total cost. b. Find the new total inventory cost (include safety stock). c. Find the new inventory turnover. d. Find the new inventory cycle.
An urn contains nine white balls and 11 black balls. A ball is drawn and replaced. If the ball is white your opponent pays you 25 cents. If it is black you pay him 25 cents.
What is meant by the term criterion as it is used in personnel selection? Give some examples of criteria used jobs with which you are familiar.
If the work crew is increased to the point where they can complete 150 squares a day, describe how will this affect the average time until a job is completed.
The fixed cost for a machine is $6,400, and its variable cost is $3.50 per unit. ABC charges $7.50 to balance one wheel. What is the break-even point in units?
Every time an order is placed for more items X, it costs $10. Whenever item X is ordered, Illustrate what should be the order size. Illustrate what is the annual cost for ordering item X.
What are the challenges faced in training expatriate managers? How would you design an effective expatriate traning program?
If the customer time cost is $5/customer per hour, what number of servers minimizes cost?
Suppose that at any period of time a photo- copier machine can either be working properly, in need of maintenance, in need of minor repair, or in need of major repair.
Visit the Consumer Product Safety Division website. Click on Consumer Safety, and then click on Recalls. Choose one product that has been recalled
The Kitchen Store bought a set of pots with a $120 list price from Corning Manufacturing. The Kitchen Store receives a 25% trade discount.
Assume that you own a very upscale restaurant (think shearwater at the hotel del Coronado or the grant grill at the us grant hotel). Business has fallen off greatly at your restraurant because of the economic crisis.
Which control should periodically reassess its approach to the marketplace with a good marketing audit?
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