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Office Supreme, Inc., a local retailer of office supplies, faces demand for one of its inventory items at a constant rate of 240,000 units per year. It costs Office Supreme $38 to process an order to replenish stock and $2.5 per unit per year to carry the item in stock. Stock is received 5 working days after an order is placed. Assume 250 working days a year. a. What is Office Supreme's optimal ordering quantity? b. What is the reorder point? c. What is the annual number of orders? d. What is the optimal interval (in working days) between orders? e. What are the annual carrying cost, ordering cost and total cost?
Twelve samples, each containing five parts, were taken from a process that produces steel rods. The length of each rod in the samples was determined. The results were tabulated and
Given this information: Lead-time demand = 630 pounds Standard deviation of lead time demand = 40 pounds (Assume normality.) Acceptable stockout risk during lead time = 4
A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i
The numbers of patient arrivals to the ER department at a local hospital for the past 5 weeks are: week: 1 , 2 , 3 , 4 , 5 arrivals: 405 ,420 , 400 , 380 , 411 a) Compute a three-w
whats the recommendation?
Given the rate of technological change and global market pressures, there is considerable change and uncertainty in many organizations. Organizational value is determined more by
Two samples are said to be independent if they are collected at different points in time. False True
What competencies do you feel are required of the HRM professional to become the strategic business partner and assist in leading an organization? Be sure to include scholarly s
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Describe the elements in a HRMIS and the role such a system plays in an organization's ability to meet its goals. If you are familiar with such a system, what information does it p
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