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A job shop receives an order for high precision formed parts. The cost of producing each part is approximately $20,000. The customer requires that either 4 or 5 good parts be supplied. Each good part sold will yield $30,000. However, if fewer than 4 good parts are produced, none will be purchased. The probability of an individual part being acceptable to the customer is .80. 1/ Determine the optimum batch production quantity given that the job shop has agreed to supply the formed parts. 2/ Is the situation a profitable one for the job shop? I 3/ If not, how must the selling price be changed for the expected profit to be positive?
Describe two forces that you believe shape the relationship between business and society. Provide two examples (one for each force you choose). Look for flaws and strengths in spec
Please give a detailed explanation for the answer for the following scenario: You are a division manager of a manufacturing facility that produces waste? Water that must be treated
A main outcome of electronic data interchange (EDI) is To save paperwork by using structured electronically transmitted data.
why is capacity planning important in production and operations management?
Using the information about Pal's Sudden Service provided in this chapter, apply Hill's generic strategy framework in a similar fashion as the McDonald's example. How do the strate
On the day his son was born, a father decided to establish a fund for his son's college education. The father wants the son to be able to withdraw $4000 from the fund on his 18th b
Dispatching - Production Control The function of routing and scheduling as discussed above are paperwork only. No actual production has yet been started. Dispatching is the part
Assess the importance of "slack" to the project manager
Compare and contrast Lincoln Electric and Southwest Airlines with regard to the following • Views of management regarding union representatives of their workers. •
Elements of Operations Management 1. Planning This is the setting of appropriate courses of action to achieve the systems objectives. 2. Organising This is the
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