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A catfish bait manufacturer uses a secret blend of ingredients to make their infamous bait. One of these ingredients, we'll call it X for proprietary reasons, is the major component in the mixture. X is ordered in 55 gallon barrels from out of state and is used at the rate of 800 barrels per year. Each order that is placed with the supplier costs $45 to process. Storage space is at a premium on the manufacturing floor and out in the yard, so their annual cost to hold inventory is $80 per barrel. The owner's brother-in-law provides transportation services and his record has been less than stellar, so lead time has averaged 6 days with a standard deviation of 3. Stopping the process would be disastrous, so the plant manager has set a 99% service level on the reorder point.
What is the best order quantity?
What is the total cost at this reorder point?
What is the reorder point?
What is the cost of holding this safety stock?
Explain why different metrics may be more useful to marketers in determining the effectiveness of their advertising at different times. Give examples of which metrics may be useful as consumers go through the purchase decision process.
In terms of emergency management, once an exercise is over there are still many things that must be completed. Identify and describe the activities that should be done after an exercise.
Identify major reasons why organizations outsource projects or sections of projects? Why, how, when and where RFP or RFQ are use in the project process? Define briefly the difference between RFP and RFQ. What is the core content of the RFP - briefly ..
An assembly line normally operates two shifts a day, five days per week. The planned capacity of the assembly line is 380 units/shift. Determine the average safety capacity if 700 items are assembled a day, on average.
Your car dealer is willing to lease you a new car for $289 a month for 60 months. Payments are due on the first day of each month starting with the day you sign the lease contract. If your cost of money is 4.9 percent, what is the current value of..
Why is it important to match supply and demand? If a manager believes that supply and demand will not be equal, what actions could the manager take to increase the probability of achieving a match?
Compare and contrast methods of evaluation and prescription in terms of time and the types of claims produced by each. Provide examples to support your response.
The firm can acquire knowledge externally from customers, suppliers, competitors, partners, and mergers. The role of KM varies in each process (as does the type of available knowledge), but at its core its function is to establish the right channels ..
Describe the level of ethical development the executives at Barclays demonstrated when manipulating the LIBOR interest rates and Did Barclays Bank neglect social responsibility? What could they have done to be more socially responsible?
As a project manager you have a project that may be accelerated by added revenue. However, each activity has its own individual acceleration cost. Based on what we have learned thus far in the course, what decision rules do you think can be developed..
Share your thoughts on the following in approximately 250 words: There is a growing trend of increased collaboration among competitors. List the benefits and drawbacks of this practice.
You have been asked to evaluate whether your organization's current pay structure makes sense in view of what competing organizations are paying. How would you determine what organizations to compare your organization with? Why might your organizatio..
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