OPERATIONS MANAGEMENT >CUSTOM<
14th Edition
ISBN: 9781266767234
Author: Stevenson
Publisher: MCG CUSTOM
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Chapter 17.3, Problem 1.1RQ
Will the
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Prepare a graph of the monthly forecasts and average forecast demand for Chicago Paint Corp., a manufacturer of specialized paint for artists.
Compute the demand per day for each month (round your responses to one decimal place).
Month
B
Production Days
Demand Forecast
Demand per Day
January
21
950
February
19
1,150
March
21
1,150
April
20
1,250
May
23
1,200
June
22
1,000'
July
20
1,350
August
21
1,250
September
21
1,050
October
21
1,050
November
21
December
225
950
19
850
The president of Hill Enterprises, Terri Hill, projects the firm's aggregate demand requirements over the next 8 months as follows:
2,300
January
1,500
May
February
1,700
June
2,100
March
April
1,700
1,700
July
August
1,900
1,500
Her operations manager is considering a new plan, which begins in January with 200 units of inventory on hand. Stockout cost of lost sales is $125 per unit. Inventory holding cost is $25 per unit per month.
Ignore any idle-time costs. The plan is called plan C.
Plan C: Keep a stable workforce by maintaining a constant production rate equal to the average gross requirements excluding initial inventory and allow varying inventory levels.
Conduct your analysis for January through August.
The average monthly demand requirement = units. (Enter your response as a whole number.)
In order to arrive at the costs, first compute the ending inventory and stockout units for each month by filling in the table below (enter your responses as whole numbers).
Ending
E
Period…
Mention four early warning indicators that a business may be at risk.
Chapter 17 Solutions
OPERATIONS MANAGEMENT >CUSTOM<
Ch. 17.3 - Will the AI technology render project managers...Ch. 17.3 - Prob. 1.2RQCh. 17 - A project manager may need two skill setsthose of...Ch. 17 - Explain the term project champion and list some...Ch. 17 - List the steps in risk management.Ch. 17 - Give some examples of ethical issues that may...Ch. 17 - What are the key advantages of using project...Ch. 17 - What is a work breakdown structure, and how is it...Ch. 17 - Identify the term being described for each of the...Ch. 17 - List the main advantages of PERT. List the main...
Ch. 17 - Why might a probabilistic estimate of a projects...Ch. 17 - Define each of these terms, and indicate how each...Ch. 17 - Why might a person wish to be involved with a...Ch. 17 - Prob. 12DRQCh. 17 - What are some aspects of the project managers job...Ch. 17 - What is the main benefit of a project organization...Ch. 17 - What trade-offs are associated with time and cost...Ch. 17 - Who needs to be involved in assessing the cost of...Ch. 17 - Prob. 3TSCh. 17 - Project management techniques have been used...Ch. 17 - Give three examples of unethical conduct involving...Ch. 17 - For each of the following network diagrams,...Ch. 17 - Chris received new word processing software for...Ch. 17 - Prepare a Gantt chart for each of the following in...Ch. 17 - a. Develop a list of activities and their...Ch. 17 - For each of the problems listed, determine the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Three recent college graduates have formed a...Ch. 17 - The new director of special events at a large...Ch. 17 - Prob. 9PCh. 17 - The project described in the following table is...Ch. 17 - The following precedence diagram reflects three...Ch. 17 - A project manager has compiled a list of major...Ch. 17 - Here is a list of activity times for a project as...Ch. 17 - The project manager of a task force planning the...Ch. 17 - PRINTED BY: 92248ddb24ccbc6@placeholder.10274.edu....Ch. 17 - Chucks Custom Boats (CCB) builds luxury yachts to...Ch. 17 - Prob. 17PCh. 17 - Create a risk matrix in the style of Figure 17.13...Ch. 17 - Create a risk matrix for this project: Explain...Ch. 17 - B. Smitty Smith is a project manager for a large...
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- 1. Define risk management and explain its importance in a small business. 2. Describe three types of risks commonly faced by entrepreneurs. 3. Explain the purpose of a risk register. 4. List and briefly describe four risk response strategies. (5 marks) (6 marks) (4 marks) (8 marks) 5. Explain how social media can pose a risk to small businesses. (5 marks) 6. Identify and describe any four hazard-based risks. (8 marks) 7. Mention four early warning indicators that a business may be at risk. (4 marks)arrow_forwardState whether each of the following statements is TRUE or FALSE. 1. Risk management involves identifying, analysing, and mitigating risks. 2. Hazard risks include interest rate fluctuations. 3. Entrepreneurs should avoid all forms of risks. 4. SWOT analysis is a tool for risk identification. 5. Scenario building helps visualise risk responses. 6. Risk appetite defines how much risk an organisation is willing to accept. 7. Diversification is a risk reduction strategy. 8. A risk management framework must align with business goals. 9. Political risk is only relevant in unstable countries. 10. All risks can be eliminated through insurance.arrow_forward9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward
- 8. Early warning indicators help businesses to A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward10. Which risk category refers to taking advantage of a new opportunity despite potential challenges? A. Hazard B. Uncertainty C. Opportunity D. Strategicarrow_forward6. A business continuity plan is mainly used to_ A. Increase profits B. Handle daily tasks C. Prepare for disruptions D. Advertise services 7. What is the role of a risk owner? A. To finance the risk B. To monitor and manage a specific risk C. To create risks D. To avoid planning 8. Early warning indicators help businesses to_ A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes_ A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward
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