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[Business Analytics/Operational Management] The Oak Works is a family-owned business that makes handcrafted dining room tables and chairs. They obtain the oak from a local farm tree farm, which ships them 2,500 pounds of oak each month. Each table uses 50 pounds of oak while each chair uses 25 pounds of oak. The family builds all the furniture itself and has 480 hours of labor available each month. Each table or chair requires six hours of labor. Each table nets Oak Works $400 in profit, while each chair nets $100 in profit. Since chairs are often sold with tables, they want to produce at least twice as many chairs as tables. The Oak Works would like to decide how many tables and chairs to produce so as to maximize profit.
a. Formulate algebraically the linear programming model of this problem.
b. Formulate this same linear programming problem on a spreadsheet and SOLVE using Excel solver (Provide a printout of the corresponding “Excel Spreadsheet” and the “Answer Report”)
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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