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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.
A bank is planning to serve the rural communities shown in figure 10.8 with automated teller machines (ATMs). The travel time in minutes between communities in the service area is
Fully describe relationship between planning and organizing. Explain how the controlling function does or does not relate significantly to the planning function.
Productivity Challenge in Organisations Productivity is the ratio of outputs (goods and services) divided by the inputs (resources: labour, capital and services). It is one of
Explain Quality Control. Quality Control: Control is a system for measuring and inspecting (checking) a phenomenon. This suggests when to inspect, how often to inspect and h
I need a two paragraph (one page) paper on the organizational change that Starbucks implemented in 2008
what is characterstics of operation research
Task 1 Read: Chapter 4 of the Core learning material and supporting text chapters on Process Design. Task 2 Investigate: Consider the operations of your own organisation (or ano
Why should one study operations management?
A process flowchart uses symbols to represent which of the following?
Some have argued the Six Sigma programs are merely repackaged versions of older quality improvement programs that originally accompanied TQM initiatives in the 1980s. Present argum
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