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Annual demand for a product is 13,000 units; weekly demand is 250 units with a standard deviation of 40 units. The cost of placing an order is $100, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.65 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 100 units. If this is done, what will the new service probability be?
If a company pays a production worker a base wage of $22,000 and a piecework incentive of $1 per pair, if a production worker's annual productivity is 5,000 pairs per year.
Consider the four functions of management (planning, organizing, facilitating, and controlling) and the healthcare organization. In what ways (choose at least four) can the healthcare manager support quality improvement within the organization?
Requirements that a Rural Health Clinic must meet to qualify for Medicare and/or Medicaid benefits are in Federal Regulations 1861 (aa)(4) of the Social Security Act. What are the regulations listed in 1861(aa)(4) of the Social Security Act?
What is the net present value of an investment that costs $75,000 and has a salvage value of $45,000? The annual profit from the investment is $15,000 each year for 5 years. The cost of capital at this risk level is 12%.
The Rockhead Quarry produces four types of stone sculptures: Figures, Figureines, Free forms, and Statues. All products will be sold. Rockhead Quarry work force has production capacity to allocate 300 hours to cutting, 180 hours to chiseling and 300 ..
The focus of this course has been on the various ways businesses, stakeholders, ethics, and public policy relate to one another. Imagine that you are a senior government official with the power to implement one (1) change in public policy that wou..
What are the main issues described in the case. ?List and describe the main Principles of Management involved in the case.
what value-added components must blockbuster incorporate into its current movie rental business to survive in the environment today?
The annual demand has been about 8,000 units each year, and this demand has been constant throughout the year. The production capacity is 200 units per day. Each time production starts, it costs the company $ 120 to move materials into place, ..
Marty's Barber Shop has one barber. Customers have an arrival rate of 2.9 customers per hour, and haircuts are given with a service rate of 4 per hour.
Which internal parties and external parties must procurement consult with when considering whether to produce a product in-house or outsource?
Texas Instruments, one of the first producers of handheld calculators, put a great deal of effort into expanding production of calculators to drive down the cost and thus, expand the market. This is most indicative of the _____ concept.
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