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ABCD imports an item whose demands over the next 4 months are 100, 240, 210 and 180 units, respectively. The company can either stock out just enough to fulfill the current month's demand or keep inventory for the succeeding months demand requirements. However, ABCD incurs a holdiong cost of 1.20$ per unit that is held in inventory per month. Furthermore due to fluctuations in dollar exhange rates, ABCD estimates that the unit prices for the next 4 months 15$, 12$, 10$, and 14$ repectively. A fixed order cost of 200$ is incurred each time an order is placed. The company then wants to develop a purchasing plan that will minimize the total cost of ordering, purchasing, and holding an item in stock. Use network model to formulate this problem.
Two employees perform the same job, and each received exemplary performance ratings. One of the employees is near the top of the compensation bandwidth for that particular job, while the other employee is in the lowest quartile. Is it good compensati..
What role can Excel play in decision making? What is the relationship between problem solving and decision making?
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Calculate the cost performance index (CPI) and schedule performance index (SPI). Briefly explain what the reults mean.
Compute the capability index (Cp) for the process.
A futon manufacturer makes two types of wood futon bed frames, Model A and Model B. The wood used for the frame is purchased from two sources, Supplier 1 and Supplier 2. Formulate a spreadsheet model; and determine how the company can maximize its re..
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What are at least three main benefits of the just-in-time system?
A local university is considering changes to its class structure in an effort to increase professor productivity. The old schedule had each professor teaching 5 classes per week, with each class meeting an hour per day on Monday, Wednesday, and Frida..
What information can be found in a job description? How does that compare to the job specifications?
Inventory control policy is concerned with determining reorder point. What is the optimal policy, i.e., vector c(point,quantity) which gives the minimum cost?
Sam's Skateboard Company produces skateboards that are custom-built to user specifications.
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