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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.
Question 1: Show the nature and importance of the four logistics-related elements of customer service. Question 2: (a) Describe the concept of supply chain management.
I have an assignment this week to read "Ramada Demonstrates its Personal Best" on the 'Companion Website.' Do I have access to questions/answers that go along with that?
Up, up, and away is a producer of kites and wind socks. Relevant data on a bottleneck operation in the shop for the upcoming fiscal year are given in the following table: Item Kite
1) What is job evaluation? What method(s) of job position evaluation does employer use? Explain why. (Remember, "Job Evaluation" is not the same as "Performance Evaluation.") 2) Wh
1. Explain the link between productivity and quality? 2. Who do van Biema and Greenwald (1997) and Drucker (1991) suggest are responsible for the slow growth in service sector
Product management offers a host of dilemmas and challenges to marketers. What products will give us a competitive advantage? Are the new products we are considering in keeping wit
If a plaintiff proves that a disparate impact exists, an organization may then defend its employment by showing validation or _______________. a. business necessity b. hiring recor
Methods Used in Manufacturing - Operation Strategy Many of the methods used in manufacturing are just as applicable; however a greater degree of customisation will be required
A department employs 3 types of workers: laborers earning $5 per hour, machine operators earning $9 per hour and maintenance workers earning $16 per hour. For a certain job over 2
Consider an international firm you are familiar with, and consider what the firm needs to be concerned about when entering a foreign marketplace. Specifically, in terms of the chap
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