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Modern Furniture Stores sells modern coffee tables. The expected demand for next months is 500 coffee tables. Tables are handmade in Seattle. The cost of ordering a set of tables is $500. In addition the average cost of storing a coffee table is $150. The time between placing an order and receiving it at the store is 5 days. Finally daily standard deviation for the demand is estimated as 0.5 tables per day. a. Find the reordering point. b. What would be the safety stock required for a 95% customer service level? c. What would be the yearly cost of carrying the safety stock during the year? d. What would be the new reorder point? The manufacturer offers the following purchasing options: Units Price 0-99 1,000 100-299 950 300-499 900 500-999 850 1000+ 800 a. Find the order quantity that minimizes total cost. b. Find the new total inventory cost (include safety stock). c. Find the new inventory turnover. d. Find the new inventory cycle.
What is the concept of comparative norm in determining the basic wage rate? Why there are limitations to this approach?
The monthly sales for Telco Batteries, Plot the monthly sales data on a sheet of graph paper and Forecast January sales for the new year.
explain how to design his new organization. This design will comprise management structure, pay system also allocation of work to individuals also groups.
What is meant by mass customization? How can market conditions and consumer desires affect customization? Explain any price considerations that must be factored into the mass customization decision.
Riverside oil company in eastern Kentucky produces 3 different grades of gasoline. They are regular, premium, and supreme grades. Each barrel of regular grade sells for $82 while premium grade sells for $88 per barrel and supreme grade sells for $89 ..
You are planning to introduce 3 Lines of products. What positioning strategy you will consider so that the target market should buy the products.
It's no secret that having a vision for change and being able to communicate the change project are critical to success. However, that all requires a communication plan.
Scheduling techniques are designed to disaggregate the master production schedule into time-phased daily or hourly activities. A detailed production schedule must include when and where each activity must take place in order to meet the master schedu..
Some tasks and the order in which they must be performed according to their assembly requirements are shown in the following table. These re to be combined into workstations to create an assembly line.
The Lynx Company uses a functional system for their sales system. It takes the orders from their salesmen in the field, processes those orders in the office, sends the information to accounting, and distributes the pick orders to the warehouse for pi..
Enrollment in a particular class for the last four semesters has been 120, 126, 110, and 130. Suppose a one-semester moving average was used to forecast enrollment
Illustrate what are some of the advantages to this approach to being a manager. Illustrate what are some of the drawbacks.
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