What are the main characteristics of jit

Assignment Help Operation Management
Reference no: EM132800055

Q1. A carpet cleaning company considering opening a new facility with estimated fixed costs at 71000$. The average labor, solvent, and machine cost per rug are 100$, 7.5$, and 15.3$, respectively. The expected average price is 400$ per rug. Determine the minimum dollar volume and the minimum number of service needed at this facility to break even.

Q2. What are the main characteristics of JIT? Explain it.

Q3. To increase its production, a company considers three plans: large plant, medium plant, and small plant. Using the following information, compute the expected monetary value (EMV) and determine the best alternative. Large plant profit= $100,000 Large plant loss= $20,000. Medium plant profit= $70,000 Medium plant loss= $20,000 Small plant profit= $50,000 Small plant loss= $10,000 probability of profit=0.5 probability of loss=0.5

Reference no: EM132800055

Questions Cloud

Example of financial metric and nonfinancial metric : Discuss an example of a financial metric and a nonfinancial metric. What are the similarities and differences?
Measure in business operations : What aspects of performance are important to measure in business operations? What is your rationale? Why are performance measurement strategies needed?
Find the material price variance : The standard usage for raw materials is 5 pounds at $4 per pound. ABC used 3,150 pounds to produce 600 units of finished product. Find material price variance
What is supply chain management : What is supply chain management, and how would your supply chain members add value to your customer?
What are the main characteristics of jit : A carpet cleaning company considering opening a new facility with estimated fixed costs at 71000$. The average labor, solvent, and machine cost
What is Chewbacca depreciation deduction : Chewbacca LLC purchased an automobile for $55,000 on July 5, 2020. What is Chewbacca's depreciation deduction for 2020
What is the forecast for september : a. Using a simple three-month moving average, what is the forecast for September? Round your answer to 2 decimal places
Describe challenges in a specific mentoring relationship : Reflect on figure 2.1 from Chapter 2 and consider patterns that you have observed in any learning partnerships you have been involved in or have observed.
Determine the minimum dollar volume and minimum number : Determine the minimum dollar volume and the minimum number of service needed at this facility to break even.

Reviews

Write a Review

Operation Management Questions & Answers

  Maintain an association between a product and a brand

What is an example of a product that does not have a brand associated with it? Why is it important to maintain an association between a product and a brand?

  The system reliability for a three-component series

The system reliability for a three-component series system is 0.911988. If the reliability of the first and third components is 0.94 and 0.98

  Identify the social benefits deriving from these strategies

Describe the strategies which DuPont's management used to respond to the ozone controversy before the 1978 ban. Identify the social costs and risks associated with these strategies and the populations that bore these costs and risks. Identify the soc..

  Compare foreign exchange brokers and foreign exchange dealer

Describe the spot market. Compare foreign exchange brokers and foreign exchange dealers. Distinguish the terms direct quotes, indirect quotes, and cross-rates

  Managers affect power and influence within organization

How do the differences between leaders and managers affect power and influence within an organization? What are some of the consequences of this?

  Identify the formal structure of organization

Identify the formal structure of an organization.

  Collaborative planning and forecasting-replenishment

Identify the differences between the two methods of forecasting: Collaborative Planning, Forecasting, and Replenishment (CPFR) and Sales and Operations Planning

  Car wash must decide whether to have one or two wash lines

The manager of a car wash must decide whether to have one or two wash lines. One line will mean a fixed cost of $6,000 a month, and two lines will mean a fixed cost of $9,000 a month. Would you recommend one or two lines? The car wash is open 280 hou..

  Why does gender gap exist in the classroom

Why does gender gap exist in the classroom ? does it help to know the nonwhite males are often subject to same disadvantage?

  Customers variety of meals

Palmer’s restaurant serves its customers a variety of meals.

  What factors in marketing environment impact your business

What factors in the marketing environment impact your business, Regulatory, Competitive, Economic , Technological , and Social .

  Create an essay evaluating the new acquisition processes

Create an essay evaluating the new acquisition processes in DoD Instruction.Analyze the degree DoD 5000.02 creates better clarification.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd