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Service levels in Supply Chain Management
Consider that a finished product is made up of five inventoried component parts. If the service level were 90 per cent or 0.9 for each item, then the probability of having all items in stock at any one time would be (0.90)5 = 0.60. In other words, four times out of ten the assembly foreman would not be able to complete an assembly! Hence a system where shortages are an inherent feature and not caused by 'someone's mistake'.
Suggestions For the last 60 years the Bretton Woods institutions have played an essential role in ensuring global financial stability and fostering economic growth and develop
State about the prices - Price level Prices are of great significance in macroeconomics as indeed they are in microeconomics. Though, in microeconomics we are more interested i
In this section, we ask you to write down a simple, formal, mathematical model. A small number of points will be awarded for an intuitive discussion of the problem, but most of the
b) Sally’s firm produces granola bars with a fixed cost of 10 (this cost is already sunk). Her variable cost function is VC = q2 + 2q. Assuming the market for granola bars is comp
Price: The price factor is another important variable to be included in demand analysis. Here one has to consider the prices of the product and also its substitute and complement
what do you meant by rent?
Let Consider the following insurance market. There are two states of the world, B and G , and two types of consumers, H and L, who have probabilities p H =0.5 and p L
New developments
Determinants of Private Demand - Waiting-Time for Employment ‘Waiting time’ for employment is another important factor. The waiting time varies from course to course. For inst
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