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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.
What is the purpose of drug courts? What do you think will be their future? Do you think drug courts are a good idea? Why or why not?
Our text defines the four functions of a management as Planning, Organizing, Leading and Controlling. Briefly put, the plan states the desired outcome or goal and the process for
What would you recommend the company (Rochem Ltd) should do?
Metal Fabricators just issued $1,000 par 20-year bonds. The bonds sold for $758.18 and pay interest semi-annually. Investors require a rate of 9% on the bonds. What is the bonds' c
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How do the two alternative process technologies (Chemling and AFU) differ in terms of their scale and automation? What are the implications of this for Rochem?
In what ways is product strategy linked to product decisions?
1. Investigate: Consider the operations of your own organisation (or another with which you are familiar) and report on how its operational processes are designed. From your readi
A biologist reports a confidence interval of (2.0,2.4) when estimating the mean height (in centimetres) of a sample of seedlings. What is the estimated margin of error and the samp
The process for renewing a driver's license at the Archer County Courthouse is as follows. First, the clerk fills out the application; then the clerk takes the driver's picture; an
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