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Montanso is a large bio firm that sells genetically modified seed to farmers. Montanso needs to decide how much seed to put into a warehouse to serve demand for the next growing season. They will make one quantity decision. It costs Montanso $16 to make each kilogram (kg) of seed. They sell each kg for $90. If they have more seed than demanded by the local farmers, the remaining seed is sent overseas. Unfortunately, they only earn $6 per kg from the overseas market (but this is better than destroying the seed because it cannot be stored until next year). If local demand exceeds their quantity, then the sales are lost – the farmers go to another supplier. As a forecast for local demand they will use a normal distribution with a mean of 300,000 kgs and a standard deviation of 100,000 kgs. (ii) Suppose Montanso places 400,000 kilograms in their warehouse. Calculate the expected local sales of seed and the expected overseas sales of seed. Would these sales values increase, decrease, or remain unchanged if the standard deviation of demand decreases?
Examine the key reasons why a business may not want to hold too much or too little working capital.
A manager of Paris manufacturing which produces computer hard drives, is planning to lease a new automated inspection system. The manager believes the new system will be more accurate than the current manual inspection process. Suppose annual demand ..
Companies can be hurt by rapid changes in exchange rates even if their initial hedging actions appear reasonable.
Using a spreadsheet, develop MRP records for Quick and Hibo. What are the planned order releases for Hibo's part?
A budget is a single-use financial plan that covers a specified length of time. The portion of the total management system at which a plan is aimed is called the ________ of the plan. The jury of executive opinion of forecasting predicts future sales..
Dave's Stove-Top Popcorn currently has three full-time employees who are each paid $1,300 per month. An employee can only work a maximum of 100 hours per month because production normally takes place at night. Develop a production plan if Dave relies..
Calculate the labor productivity for each event. For which event was the labor productivity higher?
Describe in detail at least five (5) clear differences between position-based and interest-based labour relations.
With the EOQ model, calculate the total inventory cost TC(Q), given that annual demand D = 8000 units per year,
Discusses the four stages of the product life cycle. Think of a product/product category in the maturity stage that is poised to be reinvented. Explain fully using chapter material and/or outside research.
Is employment at will fair, or should companies have to have a legitimate reason to discharge their employees?
In reference to project management, projects should be in line with their strategy that they developed.
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