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Question:
(a) ‘Stock is often said to be the biggest evil in any business, yet firms still keep stocks.' Discuss the reasons for keeping stocks.
(b) Discuss the main costs involved in keeping stocks.
(c ) The demand per month for a spare part is 200 units. The storage space cost per unit per year is Rs20. The cost for ordering the spare part is Rs35 per order. Each unit of the spare part is Rs150 and interest rate is at 10%.
(i) Detrmine the economic order quantity.
(ii) Find the total cost.
(iii) The purchasing manager got an offer of a discounted price of Rs140 per unit if he orders in lot sizes of 600. By performing the necessary calculations indicate whether he should shift to the new policy instead of using the EOQ.
Briefly explain the management implications of information technology
a. What purpose does the Project Charter serve? b. What are the main components or sections of the Project Charter? c. What purpose does the Project Definition Document serve
Of the six reasons that scheduling resources is important, select which one of the six reasons appears to be the top priority and justify your position.
All of the following are examples of protected opposition except: a. Threatening to file a formal complaint alleging discrimination b. Refusing to obey an order because of a reason
Quick cheif cookers sell at an average [ace of 12500 per month. Each cooker costs the company $100. The annual carrying cost for each cooker is 10%. Each Each order that is place
1. A hospital emergency room averages 50 patients per shift. A shift is 8 hours long, and the average patient requires 20 minutes in the exam room. a. How many exam rooms should
Scope of operation management
How are different evaluation or rewards systems a source of conflict?
The EGAD Bottling Company has decided to introduce a new line of premium bottled water that will include several "designer" flavours. Marketing manager Georgiana Mercer is predicti
1. Using the terms from this chapter, how would you characterize the teams at ICU Medical Inc.? What are some advantages and disadvantages of giving teams a lot of autonomy to make
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