1. Weekly demand for smartphones at an Apple store is nor- mally distributed, with a mean of 500 and a standard devia- tion of 300. Foxconn, the assembler, takes four weeks to of 95 percent, how much safety inventory of jeans should the store carry? What should its ROP be? 3. Weekly demand for Motorola cell phones at a Best Buy store is normally distributed, with a mean of 300 and a standard deviation of 200. Motorola takes two weeks to supply a Best Buy order. Best Buy is targeting a CSL of 95 percent and monitors its inventory continuously. How much safety inven- tory of cell phones should Best Buy carry? What should its supply an Apple order. Apple is targeting a CSL of 95 percent and monitors its inventory continuously. How much safety inventory of cell phones should the Apple store carry? What should its ROP be? 2. Weekly demand for jeans at a Gap store is normally distrib- uted, with a mean of 100 and a standard deviation of 50. The ROP be? supply plant takes three weeks to supply a Gap order. The store manager monitors its inventory continuously and reor- ders jeans when the available inventory drops below 350. How much safety stock does the store carry? What CSL does the store achieve? If the store manager wants to target a CSL 4. Reconsider the Best Buy store in Exercise 3. The store man- ager has decided to follow a periodic review policy to man- age inventory of cell phones. She plans to order every three weeks. Given a desired CSL of 95 percent, how much safety inventory should the store carry? What should its OUL be?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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