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A manufacturer uses a purchase part who's demand over any time period of length t (in years) can assume to be normally distributed with mean 200t and variance 400t. The part cost $20 each. The lead-time is 4 weeks. The annual carrying cost rate is 0.2 $/$/year. All shortages are backlogged and the shortage cost is proportional to the number units short, where the backlogged cost is $16 per unit. The setup cost is $100. A reorder point (s, Q) policy is used. (Assuming 52 working weeks within a year). a) Find the optimal order quantity and the reorder point. b) Find the average total relevant cost (setup cost, inventory holding cost and shortage cost)
What are three ways in which corporations can demonstrate a sense of social responsibility?
What are programmed decisions? Decisions made in accordance with several habit, rule or procedure are termed as Programmed Decisions.
Trade-Offs in the Design of Operations Systems When contemplating a change in business strategy, it must be borne in mind that an operations system can be designed to do cer
This assignment is designed to demonstrate that the learning curve concept plays a vital strategic role in location decision. A company started making a new product simultaneously
Identify four categories of measures that might constitute a Balanced Scorecard of performance measures and provide an example of each. Also explain how a Balanced Scorecard could
When you look at the pay of unionized employees vs non-union in similar job classifications, what are the differences in terms of amount of pay, how the pay levels are determined,
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Could someone please explain how the objective function value would change when the right hand side value changes? For maximization questions: For a positive shadow price, an incre
Job Alpha Beta R 8 7 S 9 4 T 7 9 U 3 4 V 12 5
Question: You are the Operations Manager at Alien University and one of your responsibilities is to manage the supplies of the University. One of your suppliers has given you
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