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To ensure that the correct size of heart valve is available for heart surgery, Heart Plus, the maker of the valves employs salespeople to place and maintain inventories at hospitals in its market. After a valve is used in surgery, Heart Plus, bills the patient’s insurance company and credits the sales person with a sale.Each sales person earns a commission based on a percentage of revenue of the sales in her territory. Because Heart plus does not get paid until it sells its valve, it must bear the cost of holding the inventory calculated as the cost of capital (12%) times the wholesale cost of the valves placed in the hospital. OK here is the problem: Heart Plus faces a cost of holding inventory that is higher than its competitors. The salespeople are clearly overstocking hospitals in their territory. They have asked you to figure out how to fix the problem.
a. Who responsible for making the decision?
b. Does the decision maker have enough information to make a good decision? If not what information is required?
c. Do they have incentive to do so?
d. How would you go about determining the best course of action?
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
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An analysis of the holding costs, including the appropriate annual holding cost rate.
Briefly explain Evolution and contributor of Operations management.
A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
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Ccompare the effectiveness of different leadership styles in different organizations
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