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For each answer, indicate ‘T’ for TRUE or ‘F’ for FALSE.
a) T or F: The longer the lead time for replenishment of inventory, the larger the order size must be. _____
b) T or F: Automating the ordering process so as to reduce the fixed administrative costs for placing orders should result in a reduction in cycle inventory (assuming the proper application of EOQ concepts). ______
c) T or F: The Economic Order Quantity (EOQ) model is used to resolve the trade-off between annual holding costs and annual ordering costs. _______
d) T or F: Assuming that demand and lead time do not change, an increase in the ROP (reorder point) will result in an increase in the number of annual inventory turns. ______
e) T or F: The role of safety stock is to allow a firm to take advantage of economies of scale for fixed costs (such as ordering and/or transportation costs) _______
f) Doubling the lead time (e.g. from five to ten days) would mean that the average demand during the lead time increases by 2.000 times while the standard deviation of demand during the lead time increases by 1.414 times. _______
According to the story, who is the promisor and promisee? Is the contract enforceable according to the bargaining theory of contracts?
Prepare an outline of the five overarching sources of change. Discuss how these factors are reshaping the practice of management.
Luis Services handles transactions in the NY Stock Exchange. What is the probability that ordines will not be received in a period of 2 hours?
A single-server queuing system with an infinite calling population and a first-come, first-served queue discipline has the following arrival and service rates:
Discuss the Project Manager's role in managing risk. Hypothesize if a certain expertise is required to adequately identify and assess project risks. For example:
You are the twenty-eight-year-old founder of a very successful, five-year-old software company.
Propose a new product or service for the new company division. The division should be customer-focused with an innovative mission statement. Ensure that you are differentiating your product or service. ENERGY SAFETY AND CLEAN ENVIROMENT COMPANY. Desc..
1.Based on your research, explain whether or not you believe ERP and MRP are the only resource planning processes applicable to manufactured processes?
Research 3 companies and determine how the business could develop cost estimates for a specific product or service that they offer and discuss whether this would impact their project outcomes?
Methods used for ethics management in a compliance-based approach include education, reduced discretion, auditing and controls, and penalties.
Of the time series models presented in this chapter, including the moving average and weighted moving average, exponential smoothing and adjusted exponential smoothing, and linear trend line, which one do you consider the best? Why?
Researchers over time have documented a number of factors that have slowed the integration of multicultural curriculum in schools.
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