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You are currently working at Best Buy in the supply chain department. Your task is to oversee the purchase of a new 40” HD TV from Samsung. You worked hard at this role and know that you can come up with a number to meet your managers request for a “total inventory cost” based on the best EOQ lot size. Best Buy has had some capital issues lately, and their current rate for inventory holding is high at 20%. These TV’s each have a cost of $500. Over the course of the year you expect that 50,000 total TV’s are required and that demand is constant. Each time you order it is $4,000. First, calculate the EOQ for your order. Second, based on the EOQ calculate the total inventory cost.
Your manager is concerned that the cost of ordering is way too high based on the results in question 3. The manager would like to know how much the company would save based on using a period order quantity of only once per month. Calculate the difference in set-up costs associated with a 1 time per a 4-week order for the 12-week period. (Note: You will need to remember to subtract the new cost from the old cost to come up with the difference)
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
An analysis of the holding costs, including the appropriate annual holding cost rate.
Briefly explain Evolution and contributor of Operations management.
A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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