
Operations and Supply Chain Management (Mcgraw-hill Education)
15th Edition
ISBN: 9781259666100
Author: F. Robert Jacobs, Richard B Chase
Publisher: McGraw-Hill Education
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Chapter 4, Problem 3DQ
Summary Introduction
To determine: The characteristics of a project for critical path
Introduction: Project is an activity or the set of interrelated tasks that were generated in order to meet the particular objectives or goals.
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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 4 Solutions
Operations and Supply Chain Management (Mcgraw-hill Education)
Ch. 4 - Prob. 1DQCh. 4 - What are some reasons project scheduling is not...Ch. 4 - Prob. 3DQCh. 4 - What are the underlying assumptions of...Ch. 4 - “Project control should always focus on the...Ch. 4 - Prob. 6DQCh. 4 - Discuss the graphic presentations in Exhibit 4.11....Ch. 4 - Prob. 8DQCh. 4 - What do you think might be some barriers to the...Ch. 4 - Prob. 1OQ
Ch. 4 - Prob. 2OQCh. 4 - Match the following characteristics with their...Ch. 4 - What is the term for a group of project activities...Ch. 4 - The following activities are part of a project to...Ch. 4 - Prob. 6OQCh. 4 - Prob. 7OQCh. 4 - The following represents a project that should be...Ch. 4 - There is an 82 percent chance the following...Ch. 4 - The following table represents a plan for a...Ch. 4 - A construction project is broken down into the...Ch. 4 - Here is a CPM network with activity times in weeks...Ch. 4 - Here is a network with the activity times shown in...Ch. 4 - Prob. 14OQCh. 4 - For the network shown:
Determine the critical...Ch. 4 - The following CPM network has estimates of the...Ch. 4 - Prob. 17OQCh. 4 - Assume the network and data that...Ch. 4 - Prob. 19OQCh. 4 - A project to build a new bridge seems to be going...Ch. 4 - What feature in project management information...Ch. 4 - What was the first major project management...Ch. 4 - Prob. 23OQCh. 4 - You work for Nokia in its global cell phone group....Ch. 4 - You work for Nokia in its global cell phone group....Ch. 4 - Prob. 3AECh. 4 - Prob. 4AECh. 4 - You work for Nokia in its global cell phone group....Ch. 4 - Prob. 6AECh. 4 - Prob. 1PECh. 4 - Prob. 2PECh. 4 - Prob. 3PECh. 4 - Pieces of work in a project that consume time to...Ch. 4 - Prob. 5PECh. 4 - Prob. 6PECh. 4 - Prob. 7PECh. 4 - Prob. 8PECh. 4 - The procedure used to reduce project completion...Ch. 4 - A key assumption related to the resources needed...
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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
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