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1. A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier charges $20 per stone, annual carrying costs are 50%, and the cost of processing orders is $40. The jewelry firm operates 200 days per year and their usage rate is 36 stones per day. a. Determine the economic order quantity. b. Compute the total cost of ordering and carrying semiprecious stones.
The injection molding department of a company uses an average of 30 gallons of special lubricant a day. The supply of the lubricant is replenished when the amount on hand is 170 ga
Hidden Markov Models: We discussed an example of determining the most probable state path with the Viterbi algorithm. We also discussed in the class how to calculate the margi
Reorganizing a company can be very difficult and time consuming. It involves various resources including human interactions as well as monetary investments. Reorganization can deal
The Hickory Cabinet and Furniture Company makes chairs and tables. The company has developed the following nonlinear programming model to determine the optimal number of chairs (x1
Using the information given in the following table: (A) Identify the critical path. (B) Determine expected project duration. Activities Precedes Duration Start a,b,c - a d 5 d f 6
State the Perpetual inventory control systems Continuous (Perpetual) Inventory Control Systems: Stock levels are continually monitored and reviewed within ‘real-time’ and
The marketing manager needs to know the cost of the research project before approving it. During which stage of the marketing research process would such a consideration most likel
Analyze the strategic role of operations management in terms of organizational and operational objectives.
An assembly line is to be designed to operate 7 1/2 hours per day and supply a steady demand of 300 units per day. Here are the tasks and their performance times: PRECEDING Perf
What are the market forecasting methods for predicting demand levels? Market forecasting methods for predicting demand levels: a. Survey or sample of buyer’s intentions pr
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