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A retail outlet has its own production facility for producing denim cloth. The ordering cost ($150) is the cost of setting up the production process to make the denim cloth. The carrying cost is $0.75 per yard and the demand is 10,000 yards per year. The production facility operates the same days as the retail store is open (i.e. 311 days) and produces 150 yards of the denim cloth per day. Determine
a) The optimal order size
b) The total inventory cost
c) The length of time to receive an order
d) The number of orders per year
e) The maximum inventory level
The following payoff table provides profits based on various possible decision alternatices and various levels of demand at Amber Gardner's software firm
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Explain causes of labour turnover. Causes of Labour Turnove: (a) Voluntary withdrawals (through the worker) because of: - Not like for the present job; - Best job
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What are three factors that affect capacity utilization? Provide examples.
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