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Annual demand for a product is 16,640 units; weekly demand is 320 units with a standard deviation of 55 units. The cost of placing an order is $160, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.85 per unit.
To provide a 98 percent service probability, what must the reorder point be?
Suppose the production manager is told to reduce the safety stock of this item by 90 units. If this is done, what will the new service probability be?
Change is everywhere, yet very few people seem to embrace the concept. We are, for the most part, creatures of habit and follow daily routines. When change occurs, our activities and thought patterns are disrupted.
Create an implementation plan to integrate business analytics into your organization. Create a backup proposal in case management does not approve your initial proposal. The backup proposal should have at least 3 changes different from the origina..
A 17 yr old honors student graduated in 3 years from high school and was accepted a year earlier for college. He signed a one year lease to rent an apartment off campus. After one month, he has decided to go into the dorms and live on campus. What ar..
"Traditional Training Methods" Please respond to the following: Assess key roles of training method as it applies to today’s virtual era. Provide examples from the scenario and the textbook to support your rationale.
Compute the multifactor productivity measure (output in sales dollars) for each week using the data provided below for the production of chocolate bars. Assume 45-hour weeks and an hourly wage of $14. Overhead is 2.5 times the total weekly labor cost..
In the past few years, the traffic problems in Lynn McKell's hometown have gotten worse. Now, Broad Street is congested about half the time. The normal travel time to work for Lynn is only 15 minutes when Broad Street is used and there is no congesti..
Describe the Product design process. Give specific examples for each step from your experience. Define and discuss 3 Process Performance Metrics
One of Central's most popular valves, the Western, has an annual demand of 6,000 units. The price of each valve is $76, the inventory carrying cost is $5, and the ordering cost is $150 per order.
What benefits or opportunities does diversity provide. After a brief research regarding diversity in a healthcare organization, identify some of the best practices for managing and leading in the midst of diversity. These best practices might come..
Explain Porter's Five Forces Model and how Bill can use it to analyze his current business and his expansion. Be sure to address each of the 5 forces and explain to Bill what they mean for his business.
When searching for competitive advantage, which characteristic of a strength or weakness (value, rareness, limitability, and sustainability) is the most important in health care organizations?
Which of the key components of Lean Systems did Versatile Buildings consider? Discuss the specific components of Lean Systems that Versatile Buildings did implement.
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