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Famous Butter Made Cookies (FBMC), has gone regional with their freshly baked cookies. FBMC makes great cookies, but their inventory management is another matter. So, FMBC hired you to make better stocking decisions. Each dozen cookies sells for $10.00 and costs $7.00 to produce, market, and ship. However, unlike the prior case, cookies that go unsold after one day are no longer marketable due to a ban on the toxic preservative that was previously used. Hence, any cookies that remain unsold after a day are thrown away. Assume the average daily demand (µ) is 2400 cookies & and the daily standard deviation (?) is 200 cookies. The "marginal analysis" table based on the expert knowledge of the CEO has also been shown to be less accurate than use of the standard normal distribution assumption of the basic newsvendor model. Your task: find the optimal stocking level based on the use of the standard normal distribution formula in a newsvendor context as discussed in class. Use Excel to find z values.
Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..
Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..
Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..
An analysis of the holding costs, including the appropriate annual holding cost rate.
Briefly explain Evolution and contributor of Operations management.
A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..
Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.
Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.
Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.
Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.
Ccompare the effectiveness of different leadership styles in different organizations
Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.
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