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A local bar serves a premium draft beer to its customers. The daily demand for beer is assumed to follow a normal distribution with a mean of 80 litres and a standard deviation of 16 litres. The lead time required to receive an order of beer from the local distributor is 12 days. Determine the safety stock and reorder point if the bar wants to maintain a 90% service level. What would be the increase in the safety stock if a 95% service level is desired?
Does the EOQ increase or decrease if estimates of setup (order) costs include fixed, semi-variable, and pure variable costs while inventory-holding costs include only pure variable costs? Vice versa? What are the implications? Explain.
A manufacturing operation must periodically purchase bulk quantities of washers. The washers are purchased in boxes of 400 and are consumed at a constant rate.
What did this experience teach you about being different from others in your environment? 7. What are the advantages and disadvantages of putting yourself in a situation where you are in the minority?
Discuss the meaning of MRP such as planned order release and scheduled order receipts? Many practitioners currently update MRP weekly or biweekly. Would it be more valuable if it were updated daily?
From your accounting statements, how would you determine whether your firm is making positive economic profits or not?
What is the multifactor productivity, if the crew consisted of two of each type of mechanic?
Consider the following two-person zero-sum game. Assume the two players have the same two strategy options. The payoff table shows the gains for Player A.
Describe the elements of an organization's external environment. Why is it important to understand the external environment?
First Virgin actively seeks business proposals from the public via its Web site. "If you have a fantastic idea for us, then were all ears! Were always on the lookout for fresh ideas to improve our current companies and to create brand new ones."An..
Identify and discuss the four basic phases of the Phased Project Planning process.
How might mission and vision influence organizational design?
Oakwood Outpatient Clinic is analyzing its operation in an effort to improve performance. Describe process velocity also efficiency for the clinic.
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