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Christian runs a small chocolate shop. He manages his chocolate raw material using a periodic review system. Daily demand has a mean of 100 pounds and standard deviation of 10 pounds. The annual holding cost is $10 per pound. He maintains 98% service level (so z = 2). The lead-time to get more chocolate is 10 days and he reviews his raw material inventory monthly. (Assume that there are 30 days per month.)a. What is the chocolate raw material safety stock Christian needs to hold? What is the expected inventory level for the chocolate raw material?b. A management consultant has told Christian that, by installing an IT system, the review period could be cut from one month to one week. How much would Christian be willing to pay for this IT system? (Hint: to simplify the problem, you can assume that the price Christian wants to pay is the saving he can achieve from using this IT system for a year.)
This was expected to cost a total of $8,501,000. To date they have spent $5,001,000 on the superstructure. Computes the schedule variance, schedule performance index also cost performance index for the project to date.
What is the difference between a stock dividend and a stock split? As a stockholder, would you prefer to see your company declares
What is the best production order quantity? in units. How many days is a required production run?
Why has e business been more successful in the PC industry compared to the grocery industry
Wild west,Inc., is a regional telephone company that inherited nearly 100,000 employees and 50,000 retirees from AT&T.
We want to use a product-positioning map to evaluate perceptions of our firm and its competitors. What are five criteria we could use to form the axes of these maps?
Find out the one-step-ahead forecasts for February through May using Exponential smoothing with a smoothing constant of α = 0.15. Repeat the calculation.
A company that makes kitchen faucets has found that demand for its model faucet is fairly constant at the rate of 100,000 units per year. Each model of faucet is made using the same equipment.
discuss how managers could best leverage the Federal Registry's Website
Construct a c-chart for test errors also set the control limits to contain 99.73percent of the random variation in test scores. Illustrate what does the chart tell you.
The relationship between the organization and its suppliers or its customers is key in making decisions regarding locating a plant or facility. Such decisions are generally a strategic decision.
Whether a company grows, survives, and makes a profit could depend upon how their products or services are defined." What does this statement mean to a company or to consumer perception?
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