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Christian runs a small chocolate shop. He manages his chocolate raw material using a periodic review system. Daily demand has a mean of 100 pounds and standard deviation of 10 pounds. The annual holding cost is $10 per pound. He maintains 98% service level (so z = 2). The lead-time to get more chocolate is 10 days and he reviews his raw material inventory monthly. (Assume that there are 30 days per month.)a. What is the chocolate raw material safety stock Christian needs to hold? What is the expected inventory level for the chocolate raw material?b. A management consultant has told Christian that, by installing an IT system, the review period could be cut from one month to one week. How much would Christian be willing to pay for this IT system? (Hint: to simplify the problem, you can assume that the price Christian wants to pay is the saving he can achieve from using this IT system for a year.)
For production combination of 800 boxes of Deluxe and 600 boxes of Classic which resource is slack (not fully used).
Woodco manufactures tables and chairs. Each table and chair must be made entirely out of oak or entirely out of pine. This posting contains solution to following linear programming maximization problem using excel solver.
Hottenstein, Griffith, and Hult, attorneys at law, do a great deal of printing. The firm uses a single type of printer with annual demand for print cartridges of 480 per year.
Assume that you have $165,00 invested in stock that is returning 11.50%,$85,000 invested in a stock is returning 22.75% and $235,000 invested in a stock that is returning 10.25%.
Your work for an upscale retailer in the U.S. that has recently begun to import fine woolen garments from a South American manufacturer called Merino Magic.
Each week a sample of 100 residents is questioned on their feelings towards project. Results to date are shown below. Analyze this data using an appropriate control chart with a 5% risk of Type I error.
The costs of quality are given by the following equations, Determine the total cost of quality when there are no defectives. D= 0 and product quality is perfect.
An exchange rate shift that causes the Sing$ to be stronger versus the US$ - signaled by a positive percentage number for the Exchange Rate Impact on Cost of Pairs shipped from an Asia-Pacific plant to North America
he criterion shipment methods take two days. Elucidate but for an additional charge of $500, the container can be sent overnight. The annual holding cost rate for this type of item has been estimated at 28percent. Illustrate what option is more ec..
The economic price for the customer is indicated in the exhibit. However, the price must match the costs for the customer.
Harbor Dunes Golf Course was recently honored as one of the top public golf courses in South Carolina. The course is situated on land that was once a rice plantation, offers some of the best views of saltwater marshes available in the Carolinas.
What are some of the positive and negative impacts of federally mandated socioeconomic programs, goals, and quotas within the federal government contracting process?
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