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A manufacturer of lawn care equipment has introduced a new product. The anticipated demand is normally distributed with a mean of μ = 100 and a standard deviation of σ = 10. Each unit costs $70 to manufacture and the introductory price is to be $150 to achieve this level of sales. Any unsold units at the end of the season are unlikely to be very valuable and will be disposed of in a fire sale for $45 each. It costs $10 to hold a unit in inventory for the entire season. What is the cost of overstocking? What is the cost of understocking? What is the optimal cycle service level? How many units should be manufactured for sale (You can show the result in the functional form of NORMINV)?
Draft a memo of 1,000-1,200 words explaining to your warehouse managers how effective supply chain design could help to enhance profitability and stakeholder value for the company, including the following:
Consider a noninstantaneous replenishment situation in which the production rate is 100 units per day, the demand rate is four units per day, and the economic production lot size is 500 units. Which of the following statements is true?
What are some of the components of these cultures that you need to understand from a business standpoint? How are they different in each country?
Discuss the disproportionate risk of holding inventory by retailers, wholesalers, and manufacturers. Why has there been a trend to push inventory back up the channel of distribution?
Discuss how the following technique does/ tool can enhance operations and supply chain performance? a. Inventory Control Policies b. Forecasting c. JIT and Pull Production System d. Kanban System.
Harold Frankson is the CEO of Frankson Inc., a privately owned, medium-sized manufacturing company. The company is 17 years old, and until recently has experienced rapid growth. Mr. Frankson credits the Asian economy with the company’s recent problem..
How do we remain objective in evaluating employee performance? How do we objectively evaluate subjective skills such as communication and performance?
Lee Camera stocks two items in its warehouse which it purchases from an outside supplier. Demand for the two items are independent; the inventory carrying percentage is 20% and for each item, the demand during lead time is a normal random variable wi..
Given the OR formulation for solving sudoku puzzles, please provide a procedure that you would use to generate sudoku puzzles that are easy, moderately difficult, and supper difficult.
How will Data Security, Social Media and Privacy Issues, Manage the Data Deluge with Data Mining and Predictive Analytics affect a company/organization from a management perspective.
The Digby's workforce complement will grow by 20% (rounded to the nearest person) next year. Ignoring downsizing from automating, what would their total recruiting cost be? Assume Digby spends the same amount extra above the $1,000 recruiting base as..
Explain the process of financial planning used to estimate asset investment requirements for a corporation. Explain the concept of working capital management.
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