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Gentle Ben's Bar and Restaurant uses 6,400 quart bottles of an imported wine each year. The effervescent wine costs $4 per bottle and is served only in whole bottles because it loses its bubbles quickly. Ben figures that it costs $30 each time an order is placed, and holding costs are 35 percent of the purchase price. It takes two weeks for an order to arrive. Weekly demand is 50 bottles (closed two weeks per year) with a standard deviation of 45 bottles. Ben would like to use an inventory system that minimizes inventory cost and will provide a 95 percent service probability. What is the economic quantity for Ben to order? (Round your answer to the nearest whole number.) At what inventory level should he place an order? (Round your answer to the nearest whole number.)
Knowledge of selling is truly developed through experience. The typical salesperson only goes through about two weeks of sales training during his or her entire selling career
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Why is clear communication considered an essential element during team development?
Assuming you got a job as a Forecasting Manager with a brand new firm that has no historical data. In a high level meeting it was decided that you will develop a Weekly Exponential Smoothing Forecasting model that would go back at least
The annual demand for a product is 16,400 units. The weekly demand is 315 units with a standard deviation of 90 units. The cost to place an order is $31.00, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0..
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The line contributes about $500 per hour to the firm's profit and overhead. What is the probability that the new machine project will meet the firm's NPV hurdle?
what might the competitive advantage be for each of the following companies? a. Ebay b. Southwest Airlines c. Starbucks d. Apple f. Facebook
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What problems might occur if you do not effectively and efficiently carry out these management functions?
What is an industry? Industry is a group of diverse businesses under common owners.
The Judy Gray Income Tax Service is analyzing its customer service operations during the month prior to the April filing deadline. On the basis of past data it has been estimated that customers arrive according to a Poisson process with an average in..
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