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Question: Your company manufactures bowling balls in Akron, Ohio. The primary raw material is polyurethane that you order from suppliers. The cost to place each order is $250. The price of the material is $4000 per ton delivered to your plant regardless of lot size. Annual demand for polyurethane at your plant is 76,000 tons. Your company uses 4.5% to calculate its annual cost of carrying materials in inventory. What is the optimal lot size in order to minimize the sum of annual ordering costs and inventory carrying costs of polyurethane? What is the total annual cost based on your optimal lot size? If you supplier offered you a 10% price reduction per order for minimum orders over 500 tons, would you continue to use your optimal lot size or order at least the minimum? Support your decision with calculations. You may scan or photograph the sheet containing your calculations and upload it as a separate file or included it in the document with your other answers.
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
An analysis of the holding costs, including the appropriate annual holding cost rate.
Briefly explain Evolution and contributor of Operations management.
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..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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