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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.
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Post Industrial Society - Operations Function In the post -industrial society, industrial production has become so efficient that the average worker can now afford products th
Compare and contrast industrial products and consumer products
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Must use Excel for solution Zip Games purchases blank 3.5-inch disks onto which it copies its software for sale through its mail order operation. A disk costs Zip $.20. Processi
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Briefly discuss benchmarking as process improvement tool. Explain six types of benchmarking and give four reasons why some businesses have failed to derive maximum benefit from it.
After graduation, you decide to go into a partnership in an office supply store that has existed for a number of years. Walking through through the store and stockrooms, you fin
A firm that produces wood shutters and bookcases has received two orders for shutters: one for 100 shutters and one for 150 shutters. The 100-unit order is due at the start of week
Assuming that I am the negotiator who is tasked with a salary (on call time, step increases, overtime for captains and majors) and benefits (insurance while employed, insurance aft
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