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Montanso is a large bio firm that sells genetically modified seed to farmers at a price of $45 per kilogram (kg). Demand for the modified seed is Normally distributed with mean 450 units a month and a standard deviation of 50 units a month. The cost to produce the seed (including the cost to purchase the raw seed from the supplier) is $8 per kg. Lead time from the supplier for raw seeds is Normally distributed with mean 2 months and a standard deviation of .33 months. They store the seed in a warehouse and while the holding cost is negligible, the seed does occupy space that could be used to store another type of seed that Montanso knows it can sell at $4 a kg. 1: Suppose Montanso wants to provide a 95% service level. What should their reorder level be? 2 :Instead, suppose they want to maximize profit. What should their reorder level be? (Hint: there’s a reason I gave you revenue and cost data)
In the Ecology of Health Services Organizations model (video and PPT slides), there is a focus on relationships among preventive, acute, rehabilitation, emergency and maintenance care.
It is quite possible that when you solve a linear programming application you may get fractional values for the decision variables as an optimal solution. For example, if your decision variables are how many trains and buses to run daily to meet expe..
Amber Mining and Milling, Inc., contracted with Truax Corporation to have constructed a custom-made lathe. The machine was completed and ready for use on January 1, 2016. Prepare the journal entry on January 1, 2016, for Truax Corporation’s sale of t..
A local farm produces cases of perishable food products. The products such as vegetables and fruits are packed in wooden cases. Each case costs $10 and sells for $20. Now assume that backlogging is possible and if a demand does not get satisfied, can..
How do Loews' training programs relate to the company's business strategy? If you were the database administrator for the iTunes store, how might you use predictive analysis to determine which artists and movies will sell most next year?
Identify the changes regarding trade in merchandise and services over the past two decades, the major trends and usefulness of this information to managers.
As a manager, how would you deal with the possibility that customer satisfaction does not always lead to customer retention?
AVM, a competing studio decides to sell the DVD version of the same movie through Savmart. The manufacturing cost to AVM of a DVD is $3. Savmart retails the DVDs for $16 apiece. AVM charges a wholesale piece of $6 per DVD. Assume that the DVD demand ..
Identify at least two other competitors in the same industry, and explain why you prefer your selected brand over the competitors.
Lynn Hines is employed by Irwin Industries. She recently became a Seven Day Adventist and has informed her employer that she can no longer work on Saturday. Irwin Industries makes seat customs for air planes and is a relatively small operation. She ..
which serves both types of customers and the service times follow exponential distribution with a mean of 10 minutes. if a type 2 arrives and the type 1 being served, what is the distribution of the waiting time for this time 2 customer?
What external pressures encourage executives to misrepresent financial performance? How can companies prevent this type of behavior?
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