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A manager must set up an inventory ordering system for newly developed production item, P34, which can be ordered at a cost of $15 per unit and at any time with a lead time of two weeks and acceptable stock-out risk of 2.5 percent. The company operates 50 weeks a year, and the weekly usage rate is normally distributed with an average of 60 units, and a standard deviation of 4 units per week. If the annual holding cost is 30 percent of the cost, and the cost of placing an order is $70,
a) What is the order quantity?
b) When should the manager reorder?
Consider the following Linear Programming Problem: MIN Z= 6x1 + 4x2 Graph an objective function line. What is the optimal solution? What is the optimal objective value?
A time study analyst observed a job that is performed continuously and found an average time of 6 minutes per cycle for a worker she rated at 95 percent. What standard time is applicable for that operation?
Initially, the mean turnaround time for a stress test was 68 hours. After incorporating changes into the stress-test process, the quality improvement team collected a sample of 50 turnaround times
Determine the methods of forecasting, process or service design, layout planning, and capacity planning
A project requires completion of activities A, B, C, D, E, F, G, H, I and J.Additionally, there are two other logic relationships. Activity ‘H' can start only after 3 days have elapsed following the completion of activity ‘E'.
Forecast the seasonally adjusted usage for pallets for each month in year 5
What is reliability? What is validity? Why are they important to successful academic research.
Assume you can't get off the hiring committee and must serve on it. How should you handle this situation without causing problems
How do you imagine project management might aid or detract from the contract negotiating process, depending on how mature the process is within the organization?
Illustrate what level of safety stock is appropriate if lead time demand is normally distributed with a mean of 80 cases and a standard deviation of 5 cases.
Productivity should be a concern of every business organization. a. How is productivity defined? b. How are productivity measures used? c. What part of the organization has primary responsibility for productivity?
Choose two specific features of organizational structure described in chapters 5, 6, 8, and/or 9 and discuss how these specific features might lead to specific types of organizational culture, including norms, values, and socialization processes.
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