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A large supplier of electronic components has decided to control the inventory of a certain item by a periodic review, order up to R policy. The mean demand rate for this item is 500 units per year. The lead time? Is nearly constant at three months. The demand in the time? + T can be represented by a normal distribution with mean 500 (? + T) and the variance 800(? + T). The cost of each unit is $10, the inventory carrying cost rate is 0.10, the cost of making a review and placing an order is $15, and the cost of backorder is estimated to be $30. Find the optimal quantity and period for this problem.
Succession Planning and Workforce Plan Evaluation Develop a succession plan that addresses internal labour needs in the medium to long term, utilising succession planning princ
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What do you understand by line balancing? what happens if balance doesn''t exists?
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A foundry receives an order for specialty castings. Cost of producing each casting is estimated to be $15,000. The customer requires that exactly 4 good castings be supplied. The c
Illustrate the strategic positioning tools? Strategic positioning tools according to Reck and Long: • Passive (as clerical and transaction based) purchasing functions only o
Which of the nine knowledge areas defined in the Project Management Body of Knowledge includes the activities of generating, collecting, distributing, storing, retrieving and dispo
Select an industry or a company of your choice. Using figure 4.3 on page 110, apply the industry or the company by identifying the segment and key success factors. Justify / explai
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Why do you think many firms are experiencing an increase in their levels of outsourcing?
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