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Question:
(a) ‘Stock is often said to be the biggest evil in any business, yet firms still keep stocks.' Discuss the reasons for keeping stocks.
(b) Discuss the main costs involved in keeping stocks.
(c ) The demand per month for a spare part is 200 units. The storage space cost per unit per year is Rs20. The cost for ordering the spare part is Rs35 per order. Each unit of the spare part is Rs150 and interest rate is at 10%.
(i) Detrmine the economic order quantity.
(ii) Find the total cost.
(iii) The purchasing manager got an offer of a discounted price of Rs140 per unit if he orders in lot sizes of 600. By performing the necessary calculations indicate whether he should shift to the new policy instead of using the EOQ.
According to police sources a car with a certain protection system will be recovered 85% of the time. Find the probability that 5 of 7 stolen cars will be recovered.
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To test H0: p=.35 versus h1:p Please let me know if it is possible to use a ti-84 calculator ? = Power =
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rules of variety management
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Which of the following is true? Process improvement is more efficiently undertaken within one organizational function. Process improvement does not affect traditional organiz
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