Practical Operations Management
2nd Edition
ISBN: 9781939297136
Author: Simpson
Publisher: HERCHER PUBLISHING,INCORPORATED
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 8P
Summary Introduction
- Interpretation:A stock of element used to fulfil future demand.
- Concept Introduction:Resources (like raw materials, man power, machine, capital, land, electricity etc.) are used to manufacture the product is known as inventory.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
Choose one major approach to job design, and then discuss how best that approach can be utilized in either your current or previous employer, including a discussion of its strengths and weaknesses.
The results of your four plans will provide an indicative EOQ value. State this value and discuss in a precise manner, why it is not the exact, true value.
Additional calculations in the form of plans E, F etc. may also assist your explanation of the EOQ and can be included
i). Complete the table assuming a Level production plan.
ii) Comment on your results and explain whether at this stage, you consider a Level plan is a suitable approach for this particular business. Your comment should include reference to a calculated ‘fill rate’.
Chapter 1 Solutions
Practical Operations Management
Ch. 1 - Prob. 1DQCh. 1 - Prob. 2DQCh. 1 - Prob. 3DQCh. 1 - Prob. 4DQCh. 1 - Prob. 5DQCh. 1 - Prob. 6DQCh. 1 - Prob. 7DQCh. 1 - Prob. 1PCh. 1 - Prob. 2PCh. 1 - Prob. 3P
Ch. 1 - Prob. 4PCh. 1 - Prob. 5PCh. 1 - Prob. 6PCh. 1 - Prob. 7PCh. 1 - Prob. 8PCh. 1 - Prob. 9PCh. 1 - Prob. 10PCh. 1 - Prob. 11PCh. 1 - Prob. 12PCh. 1 - Prob. 13PCh. 1 - Prob. 14PCh. 1 - Prob. 15PCh. 1 - Prob. 16PCh. 1 - Prob. 17PCh. 1 - Prob. 18PCh. 1 - Prob. 19PCh. 1 - Prob. 20PCh. 1 - Prob. 21PCh. 1 - Prob. 22PCh. 1 - Prob. 1.1QCh. 1 - Prob. 1.2QCh. 1 - Prob. 1.3QCh. 1 - Prob. 2.1QCh. 1 - Prob. 2.2QCh. 1 - Prob. 2.3QCh. 1 - Prob. 3.1QCh. 1 - Prob. 3.2QCh. 1 - Prob. 3.3QCh. 1 - Prob. 3.4Q
Knowledge Booster
Similar questions
- In the following sawtooth inventory profile diagram, two inventory plans with different order quantities (Q) and different frequencies of delivery are shown; order quantity for Plan A = 200 units and Plan B = 50 units. i). Total demand (D) is 350 units, the holding cost per unit (Ch) is equal to (£0.8) and the ordering cost per order (Co) is (£12.5). Calculate the total costs for each plan and state which one is more preferable along with the reason why. ii). There is a stark difference in the composition of the total costs of Plans A and B. Explain this difference and why it occurs. Use the breakdown of costs for each plan to help illustrate your answer.arrow_forwardi). Complete the table for a Chase production plan. ii). Explain whether a Level or Chase plan is more suitable for the demand pattern experienced by this particular business, which incidentally relies on highly skilled workers in the production process. Assume a starting workforce of 7 and that fractional workers are permissible. You should support your answer with numerical data derived from Table 3. In comparing the costs, state any other assumptions made.arrow_forwardi). Complete for a Chase production plan. ii). Explain whether a Level or Chase plan is more suitable for the demand pattern experienced by this particular business, which incidentally relies on highly skilled workers in the production process. Assume a starting workforce of 7 and that fractional workers are permissible.arrow_forward
- Complete the table for a Chase production plan.arrow_forwardHow much can the garden centre expect to sell during each quarter of next year (Year 3) accounting for seasonality? Your forecast must make use of seasonal indices. All workings must be shown in full. (NOTE: Please round your calculations to three decimal places).arrow_forwardPS.53 Brother I.D. Ricks is a faculty member at BYU-Idaho whose grandchildren live in Oklahoma and California. He and his wife would like to visit their grandchildren at least once a year in these states. They currently have one vehicle with well over 100,000 miles on it, so they want to buy a newer vehicle with fewer miles and that gets better gas mileage. They are considering two options: (1) a new subcompact car that would cost $18,750 to purchase or (2) a used sedan that would cost $12,750.They anticipate that the new subcompact would get 37 miles per gallon (combined highway and around town driving) while the sedan would get 26 miles per gallon. Based on their road tripping history they expect to drive 13,000 miles per year. For the purposes of their analysis they are assuming that gas will cost $2.93 per gallon.Question: How many miles would the Ricks need to drive before the cost of these two options would be the same? (Display your answer to the nearest whole number.) (Hint:…arrow_forward
- What is Bitcoin? How important is it to businesses and individuals? How does it cause environmental damage and is that damage worth continued uses of Bitcoin? Read the following articles to help answer these questions: United Nations University. (2023, October 24). UN study reveals the hidden environmental impacts of bitcoin: Carbon is not the only harmful by-product. https://unu.edu/press-release/un-study-reveals-hidden-environmental-impacts-bitcoin-carbon-not-only-harmful-product#:~:text=Bitcoin%2C%20the%20most%20popular%20cryptocurrency,the%20worldwide%20Bitcoin%20mining%20network. Salam, E. (2023, April 26). Bitcoin is terrible for the environment – can it ever go green? The Guardian. https://www.theguardian.com/technology/2023/apr/26/bitcoin-mining-climate-crisis-environmental-impactarrow_forward419 X .com/courses/1546/assignments/49499?module_item_id=111573 Unlimited Attempts Allowed ✓ Details Directions: Record a video of yourself giving a business presentation. Imagine you are tasked with researching a professional development topic on business communication for 40 coworkers. You are then expected to give a 4 - 5 minute presentation on the topic. Choose any topic related to business communication, such as intercultural communication, effective leadership, professional writing, etc. Research the topic and prepare a 4 - 5 minute presentation that could be given over video conference call (such as Zoom). You may use visual aids if you choose. Upload a video file of your presentation. Provide all needed citations. Requirements: 4-5 minutes long Contains visual and audio Create your own work; do not plagiarize Cite your sources using APA citations Choose a submission type Tarrow_forwardacts Container chips (s 150 cussion: Conflict X + e.com/courses/1546/discussion_topics/15722?module_item_id=111559 24 Winter > Discussions > Week 8 Discussion: Conflict 时☆ 26 Replies, 26 Unread Week 8 Discussion: Conflict Write a 200 - 300 word discussion post based on the prompt below. Reply to at least one other student in 50 - 100 words. Can you think of a time when a conflict led to a new opportunity, better understanding, or other positive result? If not, think of a past conflict and imagine a positive outcome. Discuss the impact of this conflict on your workplace relationships, productivity, and innovation. Source: Business Communication for Success. (2015). University of Minnesota Libraries Publishing. Attribution-NonCommerical-ShareAlike. Edit View Insert Format Tools Table 12ptv Paragraph BIUA T2arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing
Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,
Purchasing and Supply Chain Management
Operations Management
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Practical Management Science
Operations Management
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:Cengage,