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Course: MNGT-520 Advanced Production Management Chapters: Service Level and Lead Times: Chapter 14 Reduce and Hedge Uncertainty: Chapter 15 QUESTION 1 Jim is a CFO of a mid-sized construction company. One of his key tasks is to ensure that the company has sufficient cash to pay its daily and hourly workers who are hired whenever need arises. The company operates all 365 days a year and Jim estimates that on any day his payroll is Normally distributed with mean $25,000 and standard deviation $7,000. Jim manages his cash reserves using the order-up-to model: each morning he places an order for cash with the bank and the armored vehicle arrives 2 days later with the money. It is company's policy to pay all workers on the same day, but in rare cases when the company runs out of cash it pays workers as soon as possible while increasing their paycheck by 1% for each day of delay. For each dollar carried the company incurs 15% cost annually which includes cost of capital and insurance. 1. What is the profit-maximizing order-up-to level for cash? 2. Suppose Jim is interested in ensuring that the company immediately satisfies all employee salary requirements with a 95% probability. What is the corresponding order-up-to level?
describe how the components of the hawthorne study are incorporated in current human resource functions? what was the
Wild west,Inc., is a regional telephone company that inherited nearly 100,000 employees and 50,000 retirees from AT&T.
Under what environmental conditions are price wars most likely to occur in the industry? What are the implications of price wars for a company?
The specification limit for a bag of C&A s jelly beans is 16 ounces and 13 ounces. A process that produces the jelly beans has a mean of 14.5 ounces and a standard deviation of 0.75 ounces. What conclusion can be drawn regarding C&A s bagging proc..
Write a 400 word count dicussion on this topic. Please answer the two questions below thoroughly. Any sources need to be properly cited in APA form all sources must be scholarly and have a reference page below
As a top executive, the only agency relationship I am concerned about is the one between myself and the firm's owners. I think that it would be a waste of my time and energy to worry about any other agency relationships."
Harbor Dunes Golf Course was recently honored as one of the top public golf courses in South Carolina. The course is situated on land that was once a rice plantation, offers some of the best views of saltwater marshes available in the Carolinas.
Company ABC received an order to produce 16 units of a new product. An 80% improvement curve was expected for this project.
Describe a performance issue which resulted from a motivational problem (what, why, who). Use a content theory of motivation (e.g., Maslow, Alderfer, Herzberg, or McClelland) or a process theory (i.e., Adams, Locke, or Heider and Kelley) to explai..
The fraction of orders filled by a distribution center or warehouse within a specific time period is referred to as the
Most often, small business owners ________ their goods and services, believing that ________ prices are the only way they can achieve a competitive advantage.
There are different types of total quality management (TQM) tools that can be used in quality management. These tools are useful in analyzing data and determining the methods of improving the quality process for an organization.
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