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One of the products stocked at Ms. Paige Turner’s paint store is a certain type of highly volatile paint thinner that, due to chemical changes in the product, has a shelf life of exactly one month. Ms. Turner purchases the paint thinner each month for $20 per can and sells it for $50 per can. The supplier buys back cans not sold during the month for $10 for recycling/reprocessing. Any excess demand during the month is lost revenue.
Suppose that the company wants to decide how many cans they should stock in order to minimize the expected total cost. What is the optimal service level that Ms. Turner should target to maximize expected profits?
Consider a newsvendor problem where demand is expected to be uniformly distributed between 800 and 1,900 units. If the selling price of the product is $190 per unit and the cost of the product is $70 per unit and the unsold items will be disposed (wi..
Explain the need for effective project and team communications systems to keep stakeholders informed of project status.Describe the need to manage project scope throughout a project's life cycle to provide closure to a properly executed project.Use e..
Annual demand is 900 units. Cost to produce the unit is $250, carrying cost is 10% per year. The manufacturer recently reduced the setup cost from $200 to $12.50. What is his new EOQ? If the company’s goal is to move to a single piece lot size, what ..
At what level of detail should we create the WBS? What value does the SOW have in a project? Who should create the SOW and where would the contents come from?
You may view stress as the sole responsibility of the employee.
Fundamental philosophical differences in management styles, launch and handling of products and services, marketing of products and services, and approach to e-commerce that sets one rival company apart from the other
Bruno Iksil, the so-called London Whale, was charged with managing over the loss of $6.2 BILLION at J.P. Morgan Chase & Co. in 2012. Where does it end? Who is responsible for these staggering loses? Where were the checks on trading accounts? Where wa..
Is Wall Street a casino or an investment in the future and why? Use examples to back your stances? What do you fear the most about Wall Street and investing in the stock market? Have you learned anything in this module that has helped you overcome th..
As part of a major plant renovation project, the industrial engineering department has been asked to balance a revised assembly operation to achieve an output of 240 units per eight-hour day.
Review 2 individual professional pages from each of the following two sites. A university created each site to help new graduates enter the job market in their field: All of these sites have created a standard format which users can adapt. Applying t..
What recommendations would you make to John Mackey regarding the actions that Whole Foods management needs to take to sustain the company growth and financial position?
The textbook speaks of four levels of ethics. The second, third, and fourth of these are professional ethics, organizational ethics, and social ethics. Compare and contrast these three forms of ethics, providing examples of their usefulness in solvin..
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