The Universal Manufacturing Company has a single assem-bly line that feeds two drill presses in parallel. As partially completed products come off the line, they are lined up tobe worked on as drill presses become available. The unitsarrive at the workstation (containing both presses) at the rate of 90 per hour (Poisson distributed). Each press opera-tor can process an average of 60 units per hour (Poisson distributed). Compute L, Lq, W, and Wq.

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Q: Determine the Manufacturing Cycle Efficiency.

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A: THE ANSWER IS AS BELOW:

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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.