Concepts of manufacturing inventory management

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Reference no: EM132252108

1. Describe the JIT and just-in-case concepts of manufacturing inventory management.

2. SEL makes Fiber optic cables. The mean for the length of the fiber optic cables is 30 feet. SEL wants the USL to be 2.0 standard deviations above the mean, and the LSL to be 1.5 standard deviations below the mean. If it costs $2.50 to fix any fiber optic cable that is out of spec and SEL produces 20,000 fiber optic cables per year, what is the expected annual cost to fix these fiber optic cables? (in intermediate steps, keep 4 decimals)

3. Jann offers to buy a laser printer, with a case of paper, two extra ink cartridges and the USB cable, from Super Office Supplies for $200. Ryan, Super's authorized representative, says, "Sold for $200 dollars, but no extra ink cartridges or cable." Do we have a contract? Explain why we do have a contract or what we have if we don't.

Reference no: EM132252108

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