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Given the following historical data on two alternative suppliers of a critical material your company requires, which of the two suppliers (supplier 1 or supplier 2) will minimize your required safety stock? Show and describe your analysis!
Base your analysis on the supplied data and assume "all else is equal" between the two suppliers. In other words, cost per unit, quality, TCO, etc. do not need to be considered. Do not concern yourself with any other issues or data other than that which is given below.
For any given period, your company's goal is to have required materials available in inventory 99.9% of the time.
Your mean requirement (demand) per day: 700 units.
Standard deviation of your daily requirement: 65 units.
Supplier 1
Mean lead-time: 7 days
Standard deviation of lead-time: 1 day
Supplier 2
Mean lead-time: 5 days
Standard deviation of lead-time: 2 days
The assignment in management is a two part assignment dealing 1.Theory of function of management. 2. Operations and Controlling.
Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. Due to increase in the preference for light beer drinkers, Chris Prangel wants to introduce light beer version in Mountain Man. An analysis into the la..
Mountain Man Brewing, a family owned business where Chris Prangel, the son of the president joins. An analysis into the launch of Mountain Man Light over the present Mountain Man Lager.
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Prepare a major handout on the key principles of instructional leadership
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