In operations management, what does JIT stand for? A) Just in Time B) Just in Transition C) Justified Inventory Technique D) Justified Investment Timing.
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- In operations management, what does JIT stand for?A) Just in TimeB) Just in TransitionC) Justified Inventory TechniqueD) Justified Investment Timing.⢠1An advantage of a make-to-stock process is which of the following? o It responds directly to customer orderso It allows the firm to avoid inventory costso Rapid delivery of a standard producto All units of output are uniqueCorrect⢠2According to Littleâs law, which of the following can be used to estimate inventory?o Set up time times throughput rateo Process time times cycle timeo Process velocity times flow timeo Throughput rate times flow timeCorrect⢠3Which of the following is a principle of reengineering? o Integrate the outcomes of parallel activitieso Organize around the taskso Treat geographically dispersed resources as though they were centralizedo Capture information many times, at the source and where it is interpretedCorrect⢠4Which of the following is one of the major types of stakeholders impacted by most consulting projects?o International government regulatorso Other consultantso…One product line at Spearman Fishing Industries has 10 turns per year and an annual sales volume (at cost) of $985,000. How much inventory is being held, on average?
- Bhatti Company produces plastic photo frames. Two departments, molding and finishing, are involved in the manufacturing. The molding department fills the molds with hot liquid plastic that is left to cool and then opens them. The finishing department removes the plastic frame from the mold and strips the edges of the frames of extra plastic. The following information is available for the month of January: January 1 Quantity (pounds) January 31 Quantity (pounds) Work-in-Process Inventory Cost Cost Molding department Finishing department None None 5,000 $ 15,000 2,000 The WIP Inventory in the finishing department is estimated to be 40% complete for conversion both at the beginning and end of January. Costs of production for January follow: Direct Costs of Production Materials Conversion Molding department Finishing department $ 450,000 $ 90,000 80,290 The molding department started 50,000 pounds of product in January. The firm uses the FIFO method of process costing. Required: 1. Prepare…Distinguish between multiprocessing and parallel processing. Explain the value chain and the supply chain to students B Give instances of what you're referring to.Shown below is a partially completed MPS record for hand drills. a. Develop the MPS record for the hand drills. (Enter your responses as integers. A response of "0" is equivalent to being not applicable.) Item: Hand drills Quantity on Hand: 30 Forecast Customer orders (booked) Projected on-hand inventory MPS quantity MPS start 1 15 20 N 40 25 3 15 15 Week Available-to- promise (ATP) inventory b. A distributor of the hand drills places an order for 15 units. What is the appropriate shipping date for the entire order? The order should ship on week (Enter your response as an integer.) 4 20 20 Order Policy: 60 units Lead Time: 1 week 5 55 0 6 35 0
- In a two (2) page response, consider any issues related to Robatelli's conversion processes, and answer the following questions: Briefly describe Robatelli's conversion processes—that is, what gets converted, how is it done, and where are the underlying processes performed [at which Robatelli's location(s)]? What procedures and internal controls would you recommend to Robatelli's to minimize the risk of lost sales due to stock-outs (i.e., running out of ingredients) and the resulting idle time that may be incurred while employees are awaiting delivery from the commissary?Giving examples distinguish between make-to-stock and make-to-order suppy chain processes.1. Describe how the inventory system (Two Bin Supply System) works. 2. What are the technologies used in the system? 3. How else do you think this system can be improved by Information Technology?
- Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 3,000 $ 165,400 1,500 100,750 4,400 241,400 2,800 163,800 2,300 139,550 1,200 86,200 2,000 125,000 1 2 3 4 5 6 7 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. $ 28,000 + $48.5 X (b.) Plot the data on a scatter diagram. Using the information from representative high-and low-volume months, develop a cost estimating equation for monthly order-processing costs. If needed, an Excel worksheet is provided in the following link in order to create the scatter diagram: Scatter_Diagram $ 15,000 X+ $53.14 X XManagement and forecasting of capacity is of greatest importance during which Product Life Cycle phase(s)? ⒸA. Decline B. Growth and Maturity ⒸC. Maturity D.Growth E. Introduction and Growthwhat Type of manufacturing systems below, why and how many are there? M M D L M M M L Cell 2 D Cell 1 Floor space available for marketing L L А G + L A L M D Cell 3 Receiving and shipping A G