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During a “hard” insurance market, a manufacturing company decided to self-insure its workers compensation loss exposure. The company hired a third party (TPA) to administer the workers compensation claims. Even though the risk was being self-insured, the risk manager insisted that the TPA maintain meticulous records. When asked why such detailed records were necessary, the risk manager replied, “So we have a good story to tell an insurance company next year.”.
What did the risk manager mean?
Why is staffing important? Who is responsible for it? Is it a function of personnel/human resource departments? What are some of the ways managers can adapt to changes in the external environment
Identify key gaps in planning for the exit. Provide recommendations on the exit strategy. Is the sale the right one? What steps ought to be taken to maximize the sales-price?
Explore the website of an ERP provider and describe the services that it indicates it provides. Explain why radio frequency identification (RFID) offers enhanced opportunities for security in global transportation and distribution, and how this, in t..
Developing Aggregate Capacity Requirements
In 1 year, a health food manufacturer produces and sells 240,000 cases of vitamins. It costs $2 to store 1 case for 1 year and $15 set up to run a batch. How many batches should be produced annually in order to minimize the cost? Your uncle runs a sm..
it costs 115 to place an order for inventory item q54 regardless of the order quantity. item q54s purchase cost is
Using the internet identifies a third party logistics (3PL) provider and describes the type of services it offers and the advantages it might provide the outsourcing company.
According to the Master Production Schedule (MPS) of a company, it is required to develop a timetable for the development of two products (A & B) in the next five periods (currently in the period 5). These finished products have a lead time of one we..
What is the most unconventional way that Linear Programming has been utilized to either minimize costs or maximize profits? Please use three examples that are applied to different industries. Thanks
Propose a competitive training strategy that will improve the position of the business in the market. The strategy should include, at a minimum, an agenda of training activities
Define the strategic goals of supply chain management, and indicate how each element of a supply chain (purchasing, production, inventory, and transportation and distribution) affects these goals.
formulate a linear programming model that will enable the farmer to determine th number of acres where sugarcane and/or corn should be planted in order to maximize profit from his land. (using ALL 50 acres, but not all workers or fertilizers.
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