Combination of system improvements as measured

Assignment Help Operation Management
Reference no: EM13962465

Using the Arena Simulation from the class lecture, identify the best combination of system improvements as measured by the increase in average monthly profit per dollar invested. You may not spend more than $4000 on changes. (Learning Outcome #2)

a) List the improvement options you tested and the increase in profit per dollar invested for each option tested.

b) Write a brief explanation of how you determined which improvement option to recommend.

c) Include a printed copy of the output sheet from Arena that shows the average number of good units produced in a month for the baseline (starting system) and for your final system with your recommended set of improvements.

Reference no: EM13962465

Questions Cloud

Discuss your thoughts about various production processes : Discuss your thoughts about the various production processes (Job Shop, Continuous Flow, Assembly line, Batch process) discussed to date, their similarities and differences. Identify some specific examples of some of the processes we discuss in this ..
What is the break even point : You are using the break-even analysis to decide whether to make or buy a part. The variable costs are $10 to buy and $5 to make. The fixed costs are $10,000 to buy and $510,000 to make. What is the break even point? If your annual requirements for th..
Role of fixed coupon in credit default swaps : Role of a fixed coupon in Credit Default Swaps? Can someone explain to me the functions of a fixed coupon in a CDS? For example, what happens if the quoted spread is greater than the coupon? What happens when it's less?
Convert hexadecimal value 17 to decimal : 1. Convert hexadecimal value 17 to decimal. 2. Convert the following decimal number to 8-bit binary 178 3. Convert binary 1001110010 to hexadecimal. 4. Convert the following binary number to decimal.  011111
Combination of system improvements as measured : Using the Arena Simulation from the class lecture, identify the best combination of system improvements as measured by the increase in average monthly profit per dollar invested. You may not spend more than $4000 on changes. Write a brief explanation..
What strategies did it use : What strategies did it use?How did it implement them, and what were the results?
Marginally acceptable value for a metric : Can poor performance relative to one specification always be compensated for by high performance on other specifications? If so, how can there ever really be a “marginally acceptable” value for a metric?
Transcends or encompasses particular interests : Is it possible to discuss things like fairness and justice in a way that is non-partisan? That is, can we talk about, say, distribution of wealth and opportunity, without representing the one or the other political ‘side’ of that particular issue. An..
Most extensive basic liberty compatible with similar liberty : The first part of Rawls’ theory of justice and fairness posits that we must have the “most extensive basic liberty compatible with a similar liberty for others”. To what extent does the current financial and political practice conform with, or violat..

Reviews

Write a Review

Operation Management Questions & Answers

  What are some business uses of a linear programming model

what are some business uses of a linear programming model? Provide an example.

  Give an illustration from our own life that describes the

you go to the library to study for the om exam. you will do as many problems as you can in 3 hours of studying taking

  Explain how risk has impacted a project

Risk is often described as the event that "might" happen during the course of a project. Explain how risk has impacted a project that you have been associated with as a team member or project leader.

  Calculate the case mix index for the hospitals

Calculate the case mix index for the hospitals, which use the same patient classification system and create a benchmark for future years and to be able to compare performance to similar peer practices

  Determine the cost recovery deduction

Bonnie purchased a new business asset (five-year property) on March 10, 2013, at a cost of $30,000. She also purchased a new business asset (seven-year property) on November 20, 2013, at a cost of $13,000. Bonnie did not elect to expense either of th..

  Which of the following is most correct

Bob has always performed well and has an excellent track record with the company. He and Arnold do not have any type of employment contract - they've just worked together for the last 30 years.

  Compare and contrast a firm fixed-price contract with a cost

Compare and contrast a firm fixed-price contract with a cost-plus contract. When would each be appropriate for a given project?

  Explain the difference between an emergency and a disaster

Explain the difference between an emergency and a disaster.

  Linear programming applied

Linear Programming Applied. Make up and describe a business situation that could be solved using linear programming. Identify and describe the two variables you are solving for.

  How many cases should be produced each day

Cases not sold during the day are sold to a food processing plant for $1 each, but cases can only be produced in the morning before the store opens. If you wish to maximize expected profit, how many cases should be produced each day?

  Represent marketing appeals to different needs

From newspapers, magazines, flyers, or similar print material, select two advertisements that represent marketing appeals to different needs. (Scan or digitally photograph your ads and insert them into your posting.) Explain what need or needs each a..

  Examine and compare the costs of the two projects in terms

analyze and compare the costs of the two projects in terms of performance efficiency budget and schedule. make sure to

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd