Courtney Kamauf schedules production of a popularRustic Coffee Table at Kamauf Enterprises, Inc. The table requires a top, four legs, 1 8 gallon of stain, 1 16 gallon of glue, 2 short braces betweenthe legs and 2 long braces between the legs, and a brass cap that goeson the bottom of each leg. She has 100 gallons of glue in inventory,but none of the other components. All items except the brass caps, stain, and glue are ordered on a lot-for-lot basis. The caps are pur-chased in quantities of 1,000, stain and glue by the gallon. Lead time is 1 day for each item. Schedule the order releases necessary to pro-duce 640 coffee tables on days 5 and 6, and 128 on days 7 and 8.
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.
Courtney Kamauf schedules production of a popular
Rustic Coffee Table at Kamauf Enterprises, Inc. The table requires a
top, four legs, 1
8 gallon of stain, 1
16 gallon of glue, 2 short braces between
the legs and 2 long braces between the legs, and a brass cap that goes
on the bottom of each leg. She has 100 gallons of glue in inventory,
but none of the other components. All items except the brass caps,
stain, and glue are ordered on a lot-for-lot basis. The caps are pur-
chased in quantities of 1,000, stain and glue by the gallon. Lead time
is 1 day for each item.
duce 640 coffee tables on days 5 and 6, and 128 on days 7 and 8.
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