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Joe's Car Company can make its own engines for $1050 or buy them from the outside from a defunct Yugoslavian auto plant for $1000 per engine. Inventory holding cost is $800 per engine per year, and the cost of ordering, receiving etc. is $8000 per order. Joe needs 500 engines per year at a constant ratea) What is Joe's EOQ for purchasing engines from the outside?b) With this order size, what is the total cost of ordering, storing and purchasing engines from the outside?c) Suppose Joe's company makes the engines instead. By coincidence, the setup cost for each production run is the same as the cost of processing an order, $8000. Joe's engineers have designed a project for making engines on site at the rate of 2000 per year. Usage rate would continue to be at 500 per year. What would the economic run size be?d) Manufacturing engines will cost $1050/engine. What is the total cost including holding and startup?e) Mary, a close friend of Joe's, just finished a course in Operations Management at UPM, suggests to Joe that he should fire some of the engineers and manufacture engines at a more conservative rate of 530 per year. What would the economic run size be in this case?f) What is the total cost of manufacture, inventory and startups for Mary's scheme?g) How does Mary's "classroom knowledge on Operations Management" plan relate to Just-in-Time, Pull-Push Systems and Make versus Buy decisions? (Answer in the form of a short essay).
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..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
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.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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