Which equation is the correct expression of Little's Law? Inventory Rate \times Time Work-in-Process = Throughput \times Lead Time Lead time = Existing Inventory \times Rate Both a & b None of the above
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- Woodwork limited manufactures luxury furniture for resale to big shops. It does not keep inventory of materials used to assemble the furniture and only orders the required materials from its suppliers when orders are received from customers. Nevertheless, it keeps very minimal inventory (if any). What type of woodwork using to manage its inventory costs? A. Inventory planning system B. Just-in time system C. Kaizen system D. Material requirement planning systemWhich of the following problems are not among those hidden when inventory levels are excessively high? A) Inadequate worker motivation B) Engineering design redundancies C) Scrap D) Productive equipment downtime E) Paperwork backlogsA manufacturer's average WIP inventory for Part #2934 is 925 parts. The workstation produces parts at the rate of 255 parts per day. Use the Excel template Little's Law to find the average time a part spends in this workstation. Round your answer to two decimal places. days
- Bhatti Company produces plastic photo frames. Two departments, molding and finishing, are involved in the manufacturing. The molding department fills the molds with hot liquid plastic that is left to cool and then opens them. The finishing department removes the plastic frame from the mold and strips the edges of the frames of extra plastic. The following information is available for the month of January: January 1 Quantity (pounds) January 31 Quantity (pounds) Work-in-Process Inventory Cost Cost Molding department Finishing department None None 5,000 $ 15,000 2,000 The WIP Inventory in the finishing department is estimated to be 40% complete for conversion both at the beginning and end of January. Costs of production for January follow: Direct Costs of Production Materials Conversion Molding department Finishing department $ 450,000 $ 90,000 80,290 The molding department started 50,000 pounds of product in January. The firm uses the FIFO method of process costing. Required: 1. Prepare…at is the inventory turnover for last year? is at is is oved More Info Sales Cost of goods sold Gross margin Other expenses Net income Finished goods inventory Work-in-process inventory Raw material inventory Total inventory (average for year) Other current assets Other assets Total assets LAST YEAR $244,000 118,000 126,000 Done 51,000 75,000 0 2,000 9,500 4,000 15,500 90,000. 200,000 305,500 . THIS YEAR $257,000 130,000 127,000 51,000 76,000 4,500 12,000 5,500 22,000 109,000 244,000 375,000 - X⢠1An advantage of a make-to-stock process is which of the following? o It responds directly to customer orderso It allows the firm to avoid inventory costso Rapid delivery of a standard producto All units of output are uniqueCorrect⢠2According to Littleâs law, which of the following can be used to estimate inventory?o Set up time times throughput rateo Process time times cycle timeo Process velocity times flow timeo Throughput rate times flow timeCorrect⢠3Which of the following is a principle of reengineering? o Integrate the outcomes of parallel activitieso Organize around the taskso Treat geographically dispersed resources as though they were centralizedo Capture information many times, at the source and where it is interpretedCorrect⢠4Which of the following is one of the major types of stakeholders impacted by most consulting projects?o International government regulatorso Other consultantso…
- Recall "Tommy's Dresses to go" case. Three years after, this company still rents designer dresses to customers, but it has managed to streamline its internal processes and expand to different segments of demand. Now, customers can rent clothes for anywhere between 1 days to 30 days, and each customer is sent only one (1) dress (instead of 2 dresses described in the case). The company alsó takes only 13 number of days to turn around a dress (i.e., this the duration starting with return from a customer, to again being rented out to a customer). The current demand is an average of 1,000 customers per day, and the company owns total of 30 thousand dresses. What is the average rental duration? (i.e., what is the average number of days, a customer keeps a dress).Subject: Logistic management Q): What are the 2 approaches of BPR for implementation, give example? Q): What are the types & category of inventory management?There is high utilization of inventory in chase approach 1)False 2)True
- UPO Manufacturing produces a range of health care appliances for hospital as well as for home use. The company has expenenced a steady demand for as products. which are highly regarded in the health care I &id. Recently the company has undertaken a review of as memory ordering procedures as pan of a larger effort to reduce costs. One of the company's products is a blood pressure testing kit. UPD manufactures all of the components for the kit in-house except for the digital display unit The display units are ordered at six-week intervals from the supplier. This ordering system began about five years ago. because the supplier insisted on it. However, that supplier was bought out by another supplier about a year ago. and the six-week ordering requirement is no longer in place. None-theless. UPO has continued to use the six- week ordering policy. According to purchasing manager Tom Chambers. "Unless some body can give me a reason for changing. I'm going to stick with what we've been…Each Triam Deluxe gamer computer system consists of two speakers, a monitor, a system unit, a keyboard, and an installation kit. These pieces are packed together and shipped as a complete kit. In MRP terms, all of these items are level 1 items that make the level 0 kits. Complete the MRP records, using the following information: • Production plans for complete kits are as follows: Start assembling 4,500 kits in week 2 Start assembling 1,000 kits in weeks 3, 4, and 5 Start assembling 8,000 kits in week 6 • The gross requirements for the system unit have already been given to you. For the remaining items, you will need to figure out the gross requirements. • All scheduled receipts, lead times, and beginning inventory levels are shown. Click the icon to view the MRP records. Construct the material requirements plan for item System unit (enter your responses as whole numbers). System unit: Lead Time = 1 week; Minimum order quantity = 3,500 Week 1 2 3 Gross requirements 4,500 1,000…I need a step by step answer please :)