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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'.
Seaports and Airports: Seaports India has 12 major ports and about 185 minor ports over its coastline spread over 7,000 kms. Major ports are managed by the Central Government
explain why policies for promoting market competition are desireable
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introduction of this model
Price Level:Overall average level of nominal prices in the economy can be calculated, most often as a weighted average of the prices of individualservices and goods (with weighting
what do you understand by linear break-even point? in what way is it useful in managerial economics? what are the assumptions underlying the analysis?
PREFERENCES TOWARD RISK * Choosing Among Risky Alternatives - Assume - Consumption of a single commodity - The consumer knows all probabilities - Payoffs measured i
graphical illustrations describing the influence of an increase in immigrants on the market supply of labour
Demonstrate mathematically that the equilibrium condition MRS PB PA is the equivalent of the utility-maximizing rule MU AP A MU B PB .
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