The Ikea Furniture Company has a warehouse in Northern Illinois that stores its inventory until it is needed by other local Ikea stores in the region. When a truck arrives at its loading dock, a single crew with four members is used to unload and/or load its cargo. In an effort to cut costs, the company is downsizing so it needs to determine the future size of its loading dock crew. The following is known about loading and unloading operations: Trucks arrive randomly at a mean rate of one per hour (A Crew time to load/unload exponential distribution with a mean of this distribution with a four- = 1 per hour) member crew size of 15 minutes. Mean service rate of crew of four (u = 4 customers per hour) is proportion to its size. Cost of providing each member of the crew is $20 per hour. Cost attributable for not having a truck in use is $30 per hour a. Identify the servers and customers for this queuing system. How many servers are there? b. Find the various performance measures (L, Lg, W, Wgand p) for this queuing system based on four members on the crew. c. Repeat (b) with three members. d. Repeat part (b) with two members. e. Should a one-member crew also be considered? Explain. Given the previous results, which crew size do you think management should choose? Use the cost figures to determine which crew size would minimize the expected total cost per f. g. hour.
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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