Practical Operations Management
Practical Operations Management
2nd Edition
ISBN: 9781939297136
Author: Simpson
Publisher: HERCHER PUBLISHING,INCORPORATED
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Chapter 12, Problem 3DQ
Summary Introduction

Interpretation:

Reason for safety factor and appropriate time for X to be in smaller value and larger value.

Concept Introduction: Lean operation is a process in which a business should focus on continuous improvement with minimum resources and elimination of wastage. It is a process which is adopted by businesses to work efficiently and wastage must be reduced to the maximum level. Its main focus is to create customer satisfaction and eliminate implicit cost. Its principal is to smoothen the manufacturing process so that the operation of the business can be efficiently done. Moreover, the delegation of work is important rather than having a workload at the same team so that perfection can be attained.

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1) View the video Service Processing at BuyCostumes (10.41 minutes, Ctrl+Click on the link); what are your key takeaways (tie to one or more of the topics discussed in Chapter 3) after watching this video. (viddler.com/embed/a6b7054c)       Note: As a rough guideline, please try to keep the written submission to one or two paragraphs.       2) Orkhon Foods makes hand-held pies (among other products). The firm’s weekly sales of hand-held pies over the past seven weeks are given in the table. The firm’s operations manager, Amarjargal, wants to forecast sales for week 8.   Weeks Sales of hand-held pies(000s) 1 19 2 18 3 17 4 20 5 18 6 22 7 20   Forecast the week 8 sales using the following approaches:   a) Naïve approach b) 5-month moving average c) 3-month weighted moving average using the following weights: 0.50 for week 7, 0.30 for week 6, and 0.20 for week 5. d) Exponential smoothing using a smoothing constant of 0.30, assume a…
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