Nina is trying to decide in which of four shopping centers to locate her new boutique. Some cater to higher class of clientele than others, some are in an indoor mall, some have a much greater volume than others, and, of course, rent varies considerably. Because of the nature of her store, she has decided that the class of clientele is the most important consideration. Following this, however, she must pay attention to her expenses and rent is a major item – probably 90 percent as important clientele. An indoor, temperature-controlled mall is a big help for stores such as hers where 70 percent of sales are from passersby slowly strolling and window shopping. Thus, she rates this as about 95 percent as important as rent. Last, a higher volume of shoppers means more potential sales, she thus rates this factor as 80 percent as important as rent. As an aid in visualizing her location alternatives, she has constructed the following table. A “good” is scored as 3, “fair” as 2 and “poor” as 1. Use weighted score model to help Nina come to a decision. Expense Category Location 1 2 3 4 Class of Clientele Fair Good Poor Good Rent Good Fair Poor Good Indoor Mall Good Poor Good Poor Volume Good Fair Good Poor
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.
- Nina is trying to decide in which of four shopping centers to locate her new boutique. Some cater to higher class of clientele than others, some are in an indoor mall, some have a much greater volume than others, and, of course, rent varies considerably. Because of the nature of her store, she has decided that the class of clientele is the most important consideration. Following this, however, she must pay attention to her expenses and rent is a major item – probably 90 percent as important clientele. An indoor, temperature-controlled mall is a big help for stores such as hers where 70 percent of sales are from passersby slowly strolling and window shopping. Thus, she rates this as about 95 percent as important as rent. Last, a higher volume of shoppers means more potential sales, she thus rates this factor as 80 percent as important as rent.
As an aid in visualizing her location alternatives, she has constructed the following table. A “good” is scored as 3, “fair” as 2 and “poor” as 1. Use weighted score model to help Nina come to a decision.
|
Expense Category |
Location |
|||
|
1 |
2 |
3 |
4 |
|
|
Class of Clientele |
Fair |
Good |
Poor |
Good |
|
Rent |
Good |
Fair |
Poor |
Good |
|
Indoor Mall |
Good |
Poor |
Good |
Poor |
|
Volume |
Good |
Fair |
Good |
Poor |
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
