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Consider a continuous review inventory system. Demand is normally distributed with an average of 36,000 per month and a monthly standard deviation of 320 units. Lead time is one week (assume four weeks per month). If the firm desires an 83% cycle service level, how many units of safety stock should be held?
The following quantity discount is offered to a company that purchases 120,000 units of the product annually. Each time an order is placed, the company incurs a cost of $75. If the company’s carrying charge is 25% of the price of the item, what order..
Assume that you have recently been hired as the director of continuous improvement of a company. You are an outside hire with limited history of the firm and personal capital at the firm, and you are responsible for lean production, total quality ..
List some products in your personal or family "inventory." How do you manage them? (For instance, do you constantly run to the store for milk? Do you throw out a lot of milk because of spoilage?)
1. Americans doing business in China. 2. What are the pros and cons of doing business in China? 3. What kind of strategy do the Chinese use?
Each employee is paid $50 a day for each of first five days worked during a week also $62 for overtime day (if any). Formulate an LP whose solution will enable post office to minimize cost of meeting its weekly work requirements.
How is a project baseline used to guide the execution of the project's work, to evaluate progress and performance, and to control the project? Also, as you continue to think about monitoring and controlling the project, specifically consider the ques..
A survey performed by Simmons Market Research investigated the percentage of individuals in various age groups who indicated they were willing to pay more for environmenlal.ly friendly products
a mail-order house uses 18000 boxes a year. carrying costs are 60 cents per box a year and ordering costs are 96. the
Kings will net a profit of $250 on each bracelet, which is made with 2 rubies, 3 diamonds, and 4 emeralds, and $500 on each necklace, which includes 5 rubies, 7 diamonds, and 3 emeralds. Formulate as an LP problem to maximize profit?
Define and explain each key term. Then compare or contrast the first term with the other in the set: a. Collectivistic ethic of government & Individualistic ethic of business (describe the differences between these two)
Discuss a situation when a leader refused to change their leadership style or did not recognize a need for change in order to achieve desired results. What were the reasons for the change? What were the results?
Explain why do inventories cost so much to maintain. Give some examples of explain how cost is associated with carrying an inventory. Is re anything we can do to lower this cost and if so, illustrate what.
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