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It is the beginning of June, and the production department at the Mann Company must plan its staffing strategy for the next three months (June, July, and August). Currently, the company employs 20 people, but it must implement a 5% cut (to 19 employees) at the beginning of September (three months from now). In any given month the firm may hire two employees, hire one employee, retain the same level as the month before, lay off one employee, or lay off two employees. Pro- duction quotas for the summer require the following minimum staffing levels: Month Minimum Staffing Level June 19 July 21 August 20 The cost to hire an employee is $5000, and the cost to lay off a worker is $8000. If more workers are employed than are indicated by the above staffing levels, each inac- tive worker costs the company $3000 in idle time. 1 Use a dynamic programming approach to determine an optimal staffing policy for the summer production at the Mann Company. Assume that the company has not yet made its decision for the number of employees to maintain during June. (Hint: It may help if you remember that there can only be 19 employees on-staff in September and work backwards from that point.
In what ways does corporate strategy affect capacity decisions? What factors are important in choosing the length of the planning horizon for aggregate or/and inventory planning.
IBM, for instance, has used the management science approach for decision making to improve the productivity of its sales force
I might add to your post that when companies utilize horizontal integration they are looking for some of the benefits that are known to come with it. There is an increased market power they gain over suppliers and others in the supply chain.
How does a database and data warehouse support business intelligence?
what is the diffrence among cost-benefit analysis, cose-effectiveness analysis and cost-utility analysis.
Describe how an organization generates and uses its cash.
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Construct an assembly chart for the picture frame. Construct a flowchart for the entire process from receiving material to final inspection.
Provide specific examples to support your answers. What was the basic charge against Microsoft by the government? Why do you think, in the end, the government announced it did not want a breakup of the company and just wanted to settle the case quick..
Dealing with dissatisfied and disgruntled customers is, perhaps, one of the greatest sources of conflict for retailers. Is Nordstrom's approach to customer service and customer relationship management an appropriate way to defuse or prevent potential..
Cultural Assignment. Describe an instance of stereotyping or prejudice you have experienced or observed based on cultural differences
Hypothesis testing is a procedure that uses sample evidence and probability theory to decide whether to reject or fail to reject a hypothesis. The Greek letter used to represent the probability of a Type I error is alpha.
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