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A manufacturer uses a purchase part whose demand over any time period of length t (in years) can assume to be normally distributed with mean 200t and variance 400t. The part cost $20 each. The lead-time is 4 weeks. The annual carrying cost rate is 0.2 $/$/year. All shortages are backlogged and the shortage cost is proportional to the number units short, where the backlogged cost is $16 per unit. The setup cost is $100. A reorder point (s,Q) policy is used. (Assuming 52 working weeks within a year). a) Find the optimal order quantity and the reorder point. b) Find the average total relevant cost (setup cost, inventory holding cost and shortage cost)
What types of resources does this organization provide to its members and others in the health care community? As a health care manager, what HFMA resources would you see yourself utilizing for your own facility and career?
Assume labour is paid $200 a week and the cost of machine time is $100 per week. If the firm wants to produce 1225 units of output, explain how many machines and labour must be employed.
Determine the average safety capacity if 700 items are assembled a day, on average.
Discuss the issue of project constraints also other unique aspect of the bridge in the risk management process. Were these issues taken into consideration why.
If law and regulation embed the moral framework and businesses have no extra-legal obligations, expertise or responsibility, are businesses transgressing their proper limits when they influence legislation and/or regulation?
Describe how important are crash-safety rating to new car buyers. Does the degree of importance depend on the circumstances of the buyer.
An important part of the service model is the distribution of supplementary services through physical or electronic channels of distribution. Within human resource management, the channels of distribution are quite different from traditional chann..
Find out in your organization an aspect of the operational process which could benefit from use of one or more of the given techniques: business or predictive analytics, dashboards, decision support systems and supply chain management.
explain in detail how two other factors specific to this company might make it difficult to evaluate the financial impact of this strategy.
What run quantity should be used to minimize total annual costs? (Do not round intermediate calculations. Round your final answer to the nearest whole number.)
he company is interested in using control charts to monitor the temperature of its manufacturing process. Construct the and R chart. What conclusions can be made about the quality of the process?
Assume you are a manager of a large heavy equipment manufacturing company. Your company currently outsources the manufacturing of a specialized piece of equipment to a firm in another country.
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