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The Krewe of Orpheus The Krewe of Orpheus maintains a supply of swizzle sticks for events throughout the year. Demand for swizzle sticks is shockingly low, a quick check of krewe records from last year reveals that they used only 585,000, but the krewe president believes that they should be good stewards of what they have, so they seek to manage this inventory using the EOQ policy, although they prefer to refer to it as an EOKrewe policy for obvious reasons. Swizzle sticks are not expensive items, they cost a nickel apiece largely due to the club logo printed on each one. This also serves to increase the lead time as they can't be obtained from a standard restaurant supply house. Instead, they must be ordered with an eye towards the six day lead time. It costs $15 to place an order, most of this cost is a result of explaining the meaning of "Laissez les bons temps rouler" and why it should be printed on the edge of each swizzle stick. Holding cost is 20% of purchase price. A retired operations management professor moves to New Orleans, joins the Krewe of Orpheus and convinces krewe leadership to buy their own swizzle stick production equipment. They invest in a medium-scale machine called the Swizzo 2025, which is capable of producing swizzle sticks at the rate of 1800 per day. How many production runs per year will the Swizzo 2025 be producing if they produce the optimal batch size?
The investor hires a researcher who randomly samples 19 warehouses that are for sale and finds that the mean price per square metre is $316,70, with a standard deviation of $12.90. If the researcher uses a 5% level of significance, what statistica..
How can an organization optimize supply chain management to improve results and remove obstacles? Support your answer with two current examples.
Monthly demand for an inventory item currently averages 170 units. The annual carrying cost is $10 per unit. Ordering cost is $70 per order. This information applies to all of the questions on this page.
What would be the arbitrageur's profit in dollars per dollar transacted?
Analyze various approaches for engaging an audience during a presentation and encouraging active listening. Describe effective methods of conflict resolution.
Why does a typical grievance procedure have so many steps when the employee is either right or wrong and a one or two step procedure would. save time? what are the function each of the grievance step can answer
Suppose that your business is operating at the 3.8-sigma quality level. What are the percentage inside specifications and the ppm Defective for this process? Assume a mean shift of 1σ. If projects have an average improvement rate of 40% annually, how..
Regarding Martha Stewart and her crime of Insider Trading. Her actions of "avoiding a loss" were deemed illegal. Were these actions, which led to being convicted of Insider Trading, also unethical? Please offer a complete explanation of your personal..
calculate the change in the weighted distance, wd, score if Baker exchanges the location of the tool crib and inspection.
Lead time for tires is 6 days with daily demand of 100 tires and a safety stock of 3 days. Each container (kanban) holds 10 tires. What is the correct number of kanbans? The number of kanbans required is equivalent to the ratio of what two valules (i..
At the end of Happy Endings,, Margaret Atwood writes, " That's about all that can be said for plots, which anyway are just one thing after another, a what and a what and a what. Now try How and Why" (3). What does she mean by this statement? What do ..
A paper recycling company converts newspaper, mixed paper, white office paper, and cardboard into pulp for newspring, packaging paper, and print stock quality paper. The following table summarizes the yield for each kind of pulp recovered from each t..
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