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Annual demand for a product is 13,000 units; weekly demand is 250 units with a standard deviation of 40 units. The cost of placing an order is $100, and the time from ordering to receipt is four weeks. The annual inventory carrying cost is $0.65 per unit. To provide a 98 percent service probability, what must the reorder point be? Suppose the production manager is told to reduce the safety stock of this item by 100 units. If this is done, what will the new service probability be?
Recently, to broaden its appeal, Food Fare added barbecue, seafood and steak to its menu. Required For each case, classify important structural cost drivers for business and related strategic issues that it should address to be competitive. Explai..
Artificial Intelligence topics include Expert Systems, Neural Networks and Genetic Algorithms.
Starting from the bottom, organizations can be separated into three major zones: 1) the production zone, 2) the employee zone, and 3) the process zone. A successful strategy does not evolve in a vacuum but is driven by the goals emphasized, the size ..
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In this case, the board of directors for Crude Oil has brought in a new manager, Jim, to revamp the company and increase sales. Jim’s confrontational and intimidating management style causes many employees to take his abuse silently out of fear of lo..
A new piece of equipment will cost $ 12,000 and will result in a reduced operation cost of $ 1,500 per year. What will the payback time be in years?
The Friendly Sausage Factory (FSF) can produce hot dogs at a rate of 5,000 per day. Find the optimal run size.
State what you believe is the distinctive competence and core competence of your selected company. Give an example of how the values and mission statement help to shape planning. Also give some internal and external factors that may influence the ..
Discuss the role that a supervisor plays in planning and controlling organizational performance. Also discuss the challenges of organizing a work structure and environment in the dynamic economic conditions of 2016.
How does this article contribute to contemporary thinking about business ethics? How can you apply information in this article to your field?
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