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1. Why do you look beyond the lowest price when choosing a supplier? What other factors need to be considered and why?
2. What are the primary goals of purchasing? How can purchasing achieve these goals?
3. Given the following information: Costs Make Option Buy Option Fixed Cost $125,000 $5,000 Variable Cost $15 $17 a) What is the break-even quantity? b) If the requirement is 150,000 units, is it more cost-effective for the firm to buy or make the components? c) What is the cost savings for choosing the cheaper option?
A small firm intends to increase the capacity of a bottleneck operation by adding a new machine. Two alternatives, A and B, have been identified, and the associated costs and revenues have been estimated. Annual fixed costs would be $38,000 for A and..
Consider the following linear program: Max 1A + 1B s.t. 5A + 3B ?15 3A + 5B ? 15 A, B ? 0 a. What is the optimal solution for this problem?
Discuss the concept of strict liability. Should this be applicable to businesses in product liability cases? Is this fair? What if a business is extremely cautious and yet a person is injured by the product. Why would it make sense to hold the busine..
Members of the medical profession were allowed to select members of state medical boards, thus controlling licensure of physicians. They gained the right to run their own affairs according to their priorities. Government regulatory bodies have atte..
Explain the current business model and discuss the benefits of incorporating the lean process. Describe a specific approach to acquiring and using the lean process.
What are the organization's production and purchasing strategies? Compare and contrast the operational and managerial impacts of the aggregate planning decisions in terms of customer satisfaction
Valuing diversity is commonly regarded as a virtue in today's business world. What are some strategies we can use to reflect the value of diversity in our written work? What are some different types of reports you are likely to write in your career? ..
Answer the following questions about evaluations, a specific form of opinion: 1) Share TWO examples of situations in which you changed your initial evaluation from positive to negative or vice versa. Explain how this occurred. 2) Explain, in your own..
Recommend an aggregate plan (# hired and # ?red in each period) that results in zero inventory held in each period. Compute the following costs for this plan: hiring/?ring cost for each period, inventory cost for each period, total cost. Recommend an..
As a sample workforce activity, assume your employer has asked you to develop an economic analysis and a set of policy recommendations. To complete this activity, select a news article dated within the previous two months. Clearly summarize the issue..
If a company has $1 million to spend on a new strategy and is considering market development versus product development, what determining factors would be most important to consider?
Based on your knowledge, research and/or experiences, discuss the value of simulation training/development. How do we as HRM professionals objectively determine the "value" of simulation training? Then, discuss the problems of simulation training/dev..
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