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Annual demand for number 2 pencils at the campus store is normally distributed with mean 1,000 and standard deviation 250. The store purchases the pencils for 6 cents each and sells them for 20 cents each. There is a two-month lead time from the initiation to the receipt of an order. The store accountant estimates that the cost in employee time for performing the necessary paperwork to initiate and receive an order is $20, and recommends a 22% annual interest rate for determining holding cost. The cost of a stockout is the cost of lost profit plus an additional 20 cents per pencil, which represents the cost of loss of goodwill. a. Find the optimal values of Q and R. b. Substitute a Type 1 service level criterion of 95% for the stock-out cost. Find the values of Q and R. c. Substitute a Type 2 service level criterion of 98% for the stock-out cost. Assume that Q is given by the EOQ. Find the values of Q and R.
Describe some of the key decisions its management has faced within the past year or two. Identify an ethical issue the organization either faces or has faced in the past. If it has
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Assess the impact of "group think" and "slackers" to the overall performance of the team and make two recommendations for how that impact could be mitigated. Provide specific examp
After completing your program in the University, you would want to establish your own business. Relate your choice of business to any of the types of operation layout systems
Discuss the strategic importance of layout decisions. How important as these decisions in terms of a company's long-term profitability goals? What are some examples?
You have a lease on an oil and gas property with 87.5% NRI that delivers your firm annual profits of $400,000 for five years, with equal production in each year (you will need to t
Uick 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 or
1) What makes a constraint critical or active? Explain. 2) Jim has used the theory of constraints to maximize the production of his active constraints and match the production r
Assess the challenges of managers providing accurate, timely, and effective feedback to employees. Recommend how managers can overcome any two of the challenges you identified.
The United States Constitution: Answer is the oldest written constitution in force in a major nation created the four branches of government established the common law created the
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