Suppose you are in charge of a large mailing to the alumni of your college inviting them to contribute to a scholarship fund. The letters and envelopes have been individually addressed (mailing labels were not used). The letters are to be processed (matched with correct envelope, time estimated to be 0.2 minutes each), folded (0.12 minutes each), and stuffed into the correct envelope (0.10 minutes each). The envelopes are to be sealed (0.05 minutes each), and a large commemorative stamp is to be placed in the upper right-hand corner of each envelope (0.10 minutes each).a. Make a process chart for this activity, assuming that it is aone-person operation.b. Estimate how long it will take to stuff, seal, and stamp 2,000 envelopes. Assume that the person doing this work is paid $8 per hour. How much will it cost to process 2,000 letters?c. Consider each of the following process changes. Which changes would reduce the time and cost of the current process?▪ Each letter has the same greeting, “Dear Alumnus or Alumna,” instead of the person’s name.▪ Mailing labels are used and have to be put on the envelopes (0.10 minutes each).▪ Prestamped envelopes are used.▪ Envelopes are stamped by a postage meter which can stamp 200 letters per minute.▪ Window envelopes are used.▪ A preaddressed envelope is included with each letter for contributions (adds 0.05 minutes to stuffing step).d. Would any of these changes be likely to reduce the effectiveness of the mailing? If so, which ones? Why?e. Would the changes that increase time and cost be likely to increase the effectiveness of the mailing? Why or why not?
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.
Suppose you are in charge of a large mailing to the alumni of your college inviting them to contribute to a scholarship fund. The letters and envelopes have been individually addressed (mailing labels were not used). The letters are to be processed (matched with correct envelope, time estimated to be 0.2 minutes each), folded (0.12 minutes each), and stuffed into the correct envelope (0.10 minutes each). The envelopes are to be sealed (0.05 minutes each), and a large commemorative stamp is to be placed in the upper right-hand corner of each envelope (0.10 minutes each).
a. Make a process chart for this activity, assuming that it is a
one-person operation.
b. Estimate how long it will take to stuff, seal, and stamp 2,000 envelopes. Assume that the person doing this work is paid $8 per hour. How much will it cost to process 2,000 letters?
c. Consider each of the following process changes. Which changes would reduce the time and cost of the current process?
▪ Each letter has the same greeting, “Dear Alumnus or Alumna,” instead of the person’s name.
▪ Mailing labels are used and have to be put on the envelopes (0.10 minutes each).
▪ Prestamped envelopes are used.
▪ Envelopes are stamped by a postage meter which can stamp 200 letters per minute.
▪ Window envelopes are used.
▪ A preaddressed envelope is included with each letter for contributions (adds 0.05 minutes to stuffing step).
d. Would any of these changes be likely to reduce the effectiveness of the mailing? If so, which ones? Why?
e. Would the changes that increase time and cost be likely to increase the effectiveness of the mailing? Why or why not?
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