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A cigar company stocks Cuban cigars that have variable lead times because of the difficulty in importing the product. Lead time is normally distributed with an average of 6 weeks and a standard deviation of 2 weeks. Average demand is also normally distributed with a mean of 200 cigars per week and a standard deviation of 25 cigars. a. For a 98% service level, what is the ROP? b. What is the ROP for a 90% service level? c. Explain what these two service level mean. Which is preferable?
Henrique's Correa's bakery prepares all its cakes between 4am and 6am so they will be fresh when customers arrive. Day-old cakes are virtually always sold but at a 50% discount off
Find an example of a project in which one of these two types was used in a real federal contract. These two types refers to contrast fixed-price and cost-reimbursement contracts fo
Describe the elements of an organization's external environment. Why is it important to understand the external environment?
Consider your daily activities - as a consumer, student, parent, friend, homeowner or renter, car driver, employee etc. - and think about the ways that you are involved in transact
Describe the U.S. role in the world economy.
Explain Dummy Activity. Every project has a number of job operations or tasks that are termed as activities. An activity is a component of a project and this may be a process,
Production and management Brunswick, read an article on time-phased requirements planning. He was curious about how this technique might work in scheduling Brunswick's engine assem
A paper mill produces two grades of paper viz, x and y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper in
Identify, with examples, groups that may represent a significant political risk for an organisation that is considering engaging in Foreign Direct Investment. When companies a
How would the EBQ change if the set-up costs were reduced by 50 percent, and the holding costs were reassessed by 40 percent, taking account of the opportunity costs of capital at
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