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An artist's supply shop stocks a variety of different items to satisfy the needs of both amateur and professional artists. In each case described below, what is the appropraite inventory control model that the store should use to manage the replenishment of the item described below? Explain your choice and determine the data needed to solve the model selected.
a) A highly volatile paint thinner is ordered once every three months from the supplier. Cans not sold during the three month period are discarded. The demand for the paint thinner exhibits considerable variation from one three month period to the next.
b) A white oil base paint sells at a fairly regular rate of 600 tubes per month and required a six week order lead time. The paint store buys the paint for $1.20 per tube.
c) Burnt sienna oil paint does not sell as regularly or as heavily as white. Sales of the burnt sienna vary considerably (and randomly) from one month to the next. The useful lifetime of the paint is about two years, but the store sells almost all of the paint prior to the two year limit. Fixed order placement costs for low volume items such as burnt sienna oil paint are significant.
What is the equilibrium price and quantity in this market?
Research an article on one of the focusing events that occurred between the years of 1927-1950 (The Great Mississippi Flood of 1927, 1930s Dust Bowl, or Texas City Explosion). Respond to the following questions: Identify the contributing factors th..
Conduct a SWOT analysis of United to determine the strengths and weaknesses as well as threats and opportunities in the external environment.
what specific types of measures should they include in each of their perspectives of the balanced scorecard? How would they be measured?
What is the relationship between project requirements and project quality? Given this relationship, how much effort should be expended in defining and documenting project requirements?
Propose two (2) creative strategies that Carnival Cruise Lines could adopt in addition to current efforts in order to improve its image and regain its customer base.
Why are financial measures alone not sufficient to evaluate performance? Suggest 4 non- financial measures that you will use to gauge performance of the supplier?
Prepare a master production schedule for industrial pumps in the manner of the following table. Use the MPS rule to "schedule production when the projected on-hand inventory would be less than 10 without production." Suppose that a production lot siz..
Examine service categories commonly provided by nursing homes. Determine two specific service categories that you believe are common factors of competition among nursing homes. Justify your response.
Read about bad designs at Bad Human Factors Designs Web site also answers subsequent questions: Which bad design from list caught your attention.
Which of the following is NOT a general characteristic of most business products:
Consider a plant that packages peanut butter. For each jar the upper spec limit is 8.7 oz. and the lower spec limit is 7.3 oz. The standard deviation of the process is 0.2 oz. If the mean (target) of the process is 7.6 oz., is the process capable?
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