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Q. A company is deciding if it should do design of a product in-house or outsource the design. If outsourced the cost for a low bidder would be $40,000 and the cost for an expensive bidder $100,000. To do the design in-house would require over-time for an already stretched design team with total costs of $70,000. If all 3 designs (in-house, low bid, high bid) are equal in quality and the likelihood of finding a low bidder is 60% (meaning that 40% of the time the firm will have to hire the expensive bidder), should the company outsource design or do it in-house?
Propose a linear goal programming model that can be employed to determine the number of each kind of facility to be constructed to best achieve the goals of Santa Ana City Parks and Recreation Department and determine the optimal facility developm..
Elucidate what reorder point would you recommend. Elucidate what is the safety stock also annual safety stock costs for this product.
X and Y are foreign exchange traders in Germany. X agrees to sell 100 million Mexican pesos to Y for delivery within 1 week at an agreed price in German marks.
A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
How do the two plants compare with respect to the cost of labor for making a car? For each location, what is the breakeven volume and what is the total cost at breakeven?
Profits are 40 cents for a box of Deluxe crackers also 50 cents for a box of Classic crackers. Elucidate what is daily profit when producing optimal amounts.
a) Construct the product structure tree for both fans and their component parts. b) Complete the MRP for the fans and their component parts.
Use a matching demand strategy not to exceed production capacity of 2,610 external hard drives per quarter with overtime for any production above this to ensure that all production requirements are met during each quarter. What is the total cost of ..
Organisations based on the principles of scientific management will always perform well. Is this true, or might the application of other theories produce better results.
Distribution of the number of no-shows is given in the subsequent table. Elucidate what is the optimal number of overbooked seats.
the stamping machines are expected to have 90 percent efficiency considering adjustments, changeover of patterns, and unavoidable downtime. How many stamping machines are required?
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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