The supervisor of ABC Corp. wishes to assign a number of workstations to an operator based on reducing the cost per unit of output. After studying the current set-up in the production floor, the following were gathered: Load machine standard time : 0.42 minute Unload Machine Standard Time : 0.17 minute Walk time between machines : 0.08 minute Operator Rate : $15/hr Machine Rate : $25/hr Power feed time : 2.43 minutes How many machines should be assigned to each operator?*

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Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.