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Problem 1 A large scale pharmaceutical manufacturing company estimates, based on a shipping fee of $1000 per order, that they can optimally balance inventory holding costs and shipping costs for one of their frequently used chemicals if they receive shipments of this chemical at an average rate of 4.5 times per year. The annual demand is 6500 tons. Suppose that they wish to instead receive shipments every month in order to reduce the working capital requirements of holding inventory. (a) What shipping fee should they negotiate with the supplier? (b) Based on this new shipping fee, what would be the reduction in annual holding cost as compared to their prior situation? Assume that they operate optimally. Problem 2 Weekly demand for diskettes at a retailer is normally distributed with a mean of 1000 boxes and a standard deviation of 150. Currently, the store places orders via paper that is faxed to the supplier. Assume 50 working weeks in a year and the following data: 1. Lead time for delivery of an order is 4 weeks 2. Fixed cost per order is $100 3. Each box of diskettes costs $1 4. Holding cost is 25% of purchase cost (a) Assuming that the retailer wants the probability of stocking out in a cycle to be no more than 5%, provide a recommendation to the store manager (who has never been to business school) on the inventory policy (a policy regarding EOQ and ROP). (b) Claiming that it will lower lead time to 1 week, the supplier is trying to push an electronic data interchange (EDI) system on the retailer. Provide a brief qualitative discussion on the benefits and costs of such a system. How would you make the system adoption decision?
How are consumers motivated to action? Name a minimum of two motivational AND personality theories and evaluate the implication upon consumer behavior.
Illustrate what problems might an organization encounter in doing AAP that it might not encounter in regular staffing planning.
Erdington operated a toy store also carried merchandise from both domestic as well as foreign manufacturers. As holiday season approached, he found that he could reduce his costs by importing a stuffed toy from a developing country.
Chicago's Hard Rock Hotel distributes a mean of 1000 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 100 towels per day, based on occupancy.
In 150 words can you explain. Illustrate what are advantages also disadvantages of utilizing objective measures of performance.
Discuss about noted organization theorist. Pressure for change originates in the environment; pressure for stability originates within the organization.
An analyst must decide between two different forecasting techniques for weekly sales of roller blades: a linear trend equation and the naive approach.
Mega Beverage Corporation will launch its new twelve-hour energy drink called the Viva in a few weeks. The company suggests a retail price of $3 for a 3-ounce bottle; however, the retail buyers must agree not to sell the drink for less than $2.75.
You have just been notified by the Student Aid and Scholarships Office that you would receive a regent's scholarship of $2000 for the coming academic year.
Production hall was not cleaned and it was leaving a very bad effect on the health conditions of workers, resultantly, they were unable to work efficiently and effectively.
Analyze the types of benefits usually available in the health care industry and determine which benefits are most important to the greatest number of health care employees.
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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