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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.
Instructors recommended to conduct training in management
Considering Strategic Choice - Operation Strategy (Strategic analysis will be covered in Strategy - Analysis and Evaluation). The following points are an extract from Port
Please exemplify the statement correctly: It is also essential that the sum payable must be certain and definite. If the amount ordered to be paid is uncertain, the instrument cann
Spencer Inc. has the following information for the current year: Net income = $600; Net operating profit after taxes (NOPAT) = $500; Total assets = $4,000; Short-term investments =
The product design group of Flores Electric Supplies, Inc., has determined that it needs to design a new series of switches. It must decide on one of three design strategies. The m
The current order quantity for Paul's Pasta Pinwheels is 200 boxes. The order cost is $4 per order, the holding cost is $0.40 per box per year, and the annual demand is 500 boxes p
What would you recommend to the company if they asked you to advise them in improving their operations?
Consider the WBS shown below: 1.00.00 1.1.0 1.1.1 1.1.2 1.2.0 1.2.1 1.2.2 If the total program costs $100,000 and 1.2.1 and 1.2.2 are each $20 K, then the cost of 1.1.0 is:
Identify and discuss factors that can increase the size and complexity of the information system structure (beyond those discussed in the text). •Make at least three recommendation
Explain the concept of merit goods with reference to the formal provision of education in a country. Merit goods are those goods and services that society values and the gover
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