Concept explainers
a)
To determine: The best decision using different decision criteria.
Introduction:
Decision analysis can be interpreted as the most common technique to make a decision in the situation when there is uncertainty. It uses quantitative measures to analyze the decision that is also used in operation of the firms.
b)
To determine: The best decision using different decision criteria.
Introduction:
Decision analysis can be interpreted as the most common technique to make a decision in the situation when there is uncertainty. It uses quantitative measures to analyze the decision that is also used in operation of the firms.
c)
To determine: The best decision using different decision criteria.
Introduction:
Decision analysis can be interpreted as the most common technique to make a decision in the situation when there is uncertainty. It uses quantitative measures to analyze the decision that is also used in operation of the firms.
d)
To determine: The best decision using different decision criteria.
Introduction:
Decision analysis can be interpreted as the most common technique to make a decision in the situation when there is uncertainty. It uses quantitative measures to analyze the decision that is also used in operation of the firms.
Want to see the full answer?
Check out a sample textbook solutionChapter 1 Solutions
Operations and Supply Chain Management 9th edition
- DiHL Co. is a Danao-based logistics company owned by Engr. Donald H. Lalican. Anticipating the growing demand for delivery services, he developed a strategic plan for the year 2022. The options are to hire additional delivery crews in their Mandaue facility, construct a new facility in Talisay City, or subcontract Ohlala Move, a small-time company. A study conducted by the marketing department forecasted the following payoff values, which are summarized in the table below. The values are expressed as gains and alpha = 0.6. *What is the best decision alternative under Maximax criterion? (Provide complete decision table solution)arrow_forwardThe total crude oil produced by a country up to the end of 2013 was 20 bn barrels of oil and the remaining oil reserve at the end of 2013 was thought to be 36 bn barrels. The production in 2013 was 0.72 bn barrels. Using Hubbert theory, estimate the total amount of oil extracted up to the peak of production (Qpeak), and the production in the peak year (Ppeak)arrow_forwardDavis Instruments has two manufacturing plants located in Atlanta, Georgia. Product demand varies considerably from month to month, causing Davis extreme difficulty in workforce scheduling. Recently Davis started hiring temporary workers supplied by WorkForce Unlimited, a company that specializes in providing temporary employees for firms in the greater Atlanta area. WorkForce Unlimited offered to provide temporary employees underthree contract options that differ in terms of the length of employment and the cost. The three options are summarized: The longer contract periods are more expensive because WorkForce Unlimited experiences greater difficulty finding temporary workers who are willing to commit to longer work assignments. Over the next six months, Davis projects the following needs for additional employees: Each month, Davis can hire as many temporary employees as needed under each of the three options. For instance, if Davis hires five employees in January under Option 2,…arrow_forward
- Explain the PPP structure of the habibiganj railway station and Identify the major risks that will be taken by the concessionaire.arrow_forwardStrategic Planning, Core Competencies and OutsourcingClndia Pragram Technologies, Inc. , has narrowed its choice of outsourcing provider to two firms located in different countries. Pragram wants to decide which one of the two countries is the better choice, based on risk-avoidance criteria. She has polled her executives and established four criteria.The resulting ratings for the two countries are presented in the table below, where l is a lower risk and 3 is a higher risk. The executives have determined four criteria weightings: Price, with a weight of 0. 1; Nearness, with 0.6; Technology, with 0.2; and History, with 0.1.a) Using the factor-rating method, which country would you select?b) Double each of the weights used in part (a) (to 0.2, 1.2, 0.4, and 0.2, respectively). What effect does this have on your answer? Why?arrow_forwardThe Silver Star Bicycle Company will be manufacturing both men's and women's models of its Easy-Pedal 10-speed bicycles during the next two months. Management wants to develop a production schedule indicating how many bicycles of each model should be produced in each month. Current demand forecasts call for 150 men's and 125 women's models to be shipped during the first month and 200 men's and 150 women's models to be shipped during the second month. Additional data are shown: Production Labor Requirements (hours) Current Model Costs Manufacturing Assembly Inventory Men's $120 2.0 1.5 20 Women's $90 1.6 1.0 30 Last month the company used a total of 1000 hours of labor. The company's labor relations policy will not allow the combined total hours of labor (manufacturing plus assembly) to increase or decrease by more than 100 hours from month to month. In addition, the company charges monthly inventory at the rate of 2% of the production cost based on the inventory levels at the end of…arrow_forward
- ABseeCo. Ltd. has developed a new software product to manage patient outcomes and recovery from various medical conditions. The software will be cloud-based and patients can access the software tools and resources from an app on their smartphone. The software will provide patients with an opportunity to provide key information about their recovery to doctors and the medical team who can then monitor/review progress during the recovery period. The total market is valued at $2.0 billion and it is expected that ABseeCo. Ltd. as a startup, can gain a significant percentage of the ‘early mover’ target market valued at $300m. Key influencers and ‘players’ in the target market are the following: 1.Medical teams, which include hospital doctors, occupational therapists, and mental health specialists 2.Health insurance companies 3.Hospital management teams 4.Government bodies responsible for the health 5.Patients’ own doctors (locally-based, general practitioners) The ABseeCo. Ltd founders and…arrow_forwardABseeCo. Ltd. has developed a new software product to manage patient outcomes and recovery from various medical conditions. The software will be cloud-based and patients can access the software tools and resources from an app on their smartphone. The software will provide patients with an opportunity to provide key information about their recovery to doctors and the medical team who can then monitor/review progress during the recovery period. The total market is valued at $2.0 billion and it is expected that ABseeCo. Ltd. as a startup, can gain a significant percentage of the ‘early mover’ target market valued at $300m. Key influencers and ‘players’ in the target market are the following: 1.Medical teams, which include hospital doctors, occupational therapists, and mental health specialists 2.Health insurance companies 3.Hospital management teams 4.Government bodies responsible for the health 5.Patients’ own doctors (locally-based, general practitioners) The ABseeCo. Ltd founders and…arrow_forwardABseeCo. Ltd. has developed a new software product to manage patient outcomes and recovery from various medical conditions. The software will be cloud-based and patients can access the software tools and resources from an app on their smartphone. The software will provide patients with an opportunity to provide key information about their recovery to doctors and the medical team who can then monitor/review progress during the recovery period. The total market is valued at $2.0 billion and it is expected that ABseeCo. Ltd. as a startup, can gain a significant percentage of the ‘early mover’ target market valued at $300m. Key influencers and ‘players’ in the target market are the following: 1.Medical teams, which include hospital doctors, occupational therapists, and mental health specialists 2.Health insurance companies 3.Hospital management teams 4.Government bodies responsible for the health 5.Patients’ own doctors (locally-based, general practitioners) The ABseeCo. Ltd founders and…arrow_forward
- Walker Accounting Software is marketed to small accounting firms throughout the U.S, and Canada. Owner George Walker has decided to outsource the company's help desk and is considering three providers: Manila Call Center (Philippines), Delhi Services (India), and Moscow Bell (Russia). The following table summarizes the data Walker has assembled. Which outsourcing firm has the best rating? (Higher weights imply higher importance and higher ratings imply more desirable providers.) In the following table, compute the weighted average score for each of the three providers (enter your responses rounded to one decimal place). Weight Manila Delhi Moscow Criterion (W) (A) (B) (C) Flexibility 0.50 Trustworthiness 0.10 4 2. Price 0.20 Delivery 0.20 7 Total weighted score: Help me solve this Calculator Clear all Teck answer A5546arrow_forward3arrow_forwardMacrosoft Corporation is a software giant in personal computers (PCs). Although its flagship operating system ‘Meadow’ is still dominating in the PC market, the burgeoning of tablets and smartphones in recent years has been chewing up the PC market. In fact, the numbers of new Meadow users was shrinking every year. In view of this situation, Macrosoft is considering making an offer to purchase Oats Production, and upstart smartphone producer in China. The management of Macrosoft hopes that the acquisition could allow the company to explore the smartphone software market and bring in new revenue to the firm. The treasurer of Macrosoft has collected the following information: Macrosoft Corporation Oats Production Shares outstanding 1,500,000 800,000 Earnings $8,400,000 $2,400,000 Divdends $4,200,000 $1,800,000 Price-earnings ratio 18X 15X The treasurer also discovers that the earnings and dividends of Oats will grow at a constant rate of 6% every year. If the acquisition…arrow_forward
- Practical Management ScienceOperations ManagementISBN:9781337406659Author:WINSTON, Wayne L.Publisher:Cengage,Purchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning