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Monthly demand of an inventory item follows a mean of 20 units and a variance of 4. Demand of the inventory is 12 units / month. When the inventory reaches a pre-determined level, an order for replenishment is placed. The ordering cost is $60/order/year and the holding cost is 25% of the cost of the item. The cost of the item is $4. The replenishment lead time is 4 months. Furthermore, the Z-value required to achieve a 90% service level (in other words, z90%) is given as 1.28. Based on the data above determine,
a. The Economic Order Quantity (EOQ)
b. Reorder Point (ROP)
c. Safety Stock (SS)
Procurement Department refuses to make the last payment, although the funds are available. Considering the role of a PM in fulfilment of tasks, Can you suggest why procurement denies the payment.
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Hoosier manufacturing operates a production shop that is designed to have the lowest unit production cost at an output rate of 100 units per hour. In the month of July
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Evaluate the Allen Specialty Organization's organization also plan for coordinating sales also advertising. Elucidate how will you move candidates who meet the qualifications though the hiring process.
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