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The EOQ model is based on a mathematical derivation (with which you would not be expected to be familiar) that achieves a cost minimization between two different types of costs. With this context, answer the following questions:
1) What two types of costs are being minimized by the EOQ formula?
2) Why does the POQ model differ from the EOQ model (in other words, what circumstances are different in two environments that would use these different models)?
3) If a supplier has a "batch size" or "lot size" restriction, how will that impact the organization's ability to place orders of the size suggested by the EOQ formula?
4) What will be the effect on costs if an organization fails to order the EOQ in each time period (discuss both the possibility of ordering too much each time an order is placed and the possibility of ordering too little each time an order is placed)?
5) Give an example of an organization that uses the EOQ to determine how much they order each time an order is placed. Cite the source of your example.
Analyze this case in your mind and then state the legal issues to be considered.
Code of Conduct in the European Union and Statement of Ethics discuss and compare the two codes from these marketing association. Discuss the similarities and differences between the two.
How many customers, on average, are waiting in line in front of each service desk?, How much time does a customer spend at the service desk (waiting plus service time)?
A project requires completion of activities A, B, C, D, E, F, G, H, I and J.Additionally, there are two other logic relationships. Activity ‘H' can start only after 3 days have elapsed following the completion of activity ‘E'.
Kruger will enhance its citywide image in Miami if it can outsell other local stores in total number of rolls of Super trex next year. Illustrate what constraint would you add.
A book publisher has fixed costs of $316,800 and variable costs per book pf $8.20. This book sells fo $28.00 per copy. A) How many books must be sold to break even?
Explain how project management knowledge and skills can be transferable across industries and professions.
Knowledge and change management are major challenges to most organizations. Individual and organizational learning are very different concepts though they are reliant on each other
Is it necessary for all team members to have good problem solving skills? Why or why not? What would you do with an employee who was committed to action, but had poor analysis skills?
Due to variations in processing times, management has decided to keep 15 percent of the needed inventory as safety stock. How many kanban card sets are needed?
You have to select a organization of your choice, and after that you have to write down an Operational Plan which addresses the following
How does the degree of customer contact relate to the kinds of skills needed by service workers and the degree of training they require?
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