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A manufacturer uses a purchase part whose demand over any time period of length t (in years) can assume to be normally distributed with mean 200t and variance 400t. The part cost $20 each. The lead-time is 4 weeks. The annual carrying cost rate is 0.2 $/$/year. All shortages are backlogged and the shortage cost is proportional to the number units short, where the backlogged cost is $16 per unit. The setup cost is $100. A reorder point (s,Q) policy is used. (Assuming 52 working weeks within a year). a) Find the optimal order quantity and the reorder point. b) Find the average total relevant cost (setup cost, inventory holding cost and shortage cost)
Show your supporting calculations. If construction manager were an optimist, illustrate what criterion would he choose. Illustrate what would be choice of dwelling for that criterion. Show your supporting calculations.
What is the probability that Lynn will have more than $1 million in her retirement fund when she reaches age 60?(psitarget(f35,1000000))
What is the probability the next circuit board that is kicked to the waste bin will occur in 3 minutes or more, 6 minutes or more, or 12 minutes or more?
Analyze the differences between product and services and how you would modify the process based on those differences. How is the cutomer's role
Illustrate what is "supermarket" as it is used in MRP. Elucidate how does it alter responsibility for dealing with lead-time offsets.
Explain and describe how arbitration works, and how it may benefit or hinder either side. What current event can you reference where arbitration has settled the dispute?
A machine at the Pacific Fruit Company fills boxes with raisins. The labeled weight of the boxes is 9 oz. The quality control department sampled five boxes at two hour time intervals to construct a control chart.
Recently some Operations Management experts have begun insisting that simple minimizing process velocity, which actually means minimizing the time that it takes to process something through the system.
A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.4 per stone for quantities of 600 stones or more
Forecast the number of accidents that will occur in May, using least-squares regression to derive a trend equation.
A location analysis for Temponi Controls, a small manufacturer of parts for high technology cable systems, has been narrowed down to 4 locations.
If there were room to park only 2 boats at the top of the ramp in preparation for launching, how often would an arrival find insufficient parking space.
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