The advantages and disadvantages of time-based pay plans. Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

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Answer 1

Question

Chapter 7, Problem 18DRQ

a)

Summary Introduction

To determine: The advantages and disadvantages of time-based pay plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

b)

Summary Introduction

To determine: The advantages and disadvantages of incentive plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

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Sam's Pet Hotel operates 51 weeks per year, 6 days per week, and uses a continuous review inventory system. It purchases kitty litter for $11.00 per bag. The following information is available about these bags: > Demand 95 bags/week > Order cost $52.00/order > Annual holding cost = 25 percent of cost > Desired cycle-service level = 80 percent >Lead time 4 weeks (24 working days) > Standard deviation of weekly demand = 15 bags > Current on-hand inventory is 320 bags, with no open orders or backorders. a. Suppose that the weekly demand forecast of 95 bags is incorrect and actual demand averages only 75 bags per week. How much higher will total costs be, owing to the distorted EOQ caused by this forecast error? The costs will be $ higher owing to the error in EOQ. (Enter your response rounded to two decimal places.)

Sam's Pet Hotel operates 50 weeks per year, 6 days per week, and uses a continuous review inventory system. It purchases kitty litter for $10.50 per bag. The following information is available about these bags: > Demand = 95 bags/week > Order cost = $55.00/order > Annual holding cost = 35 percent of cost > Desired cycle-service level = 80 percent > Lead time = 4 weeks (24 working days) > Standard deviation of weekly demand = 15 bags > Current on-hand inventory is 320 bags, with no open orders or backorders. a. Suppose that the weekly demand forecast of 95 bags is incorrect and actual demand averages only 75 bags per week. How much higher will total costs be, owing to the distorted EOQ caused by this forecast error? The costs will be $ 10.64 higher owing to the error in EOQ. (Enter your response rounded to two decimal places.) b. Suppose that actual demand is 75 bags but that ordering costs are cut to only $13.00 by using the internet to automate order placing. However, the buyer does…

Answer 2

Question

Chapter 7, Problem 18DRQ

a)

Summary Introduction

To determine: The advantages and disadvantages of time-based pay plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

b)

Summary Introduction

To determine: The advantages and disadvantages of incentive plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

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Answer 3

Question

Chapter 7, Problem 18DRQ

a)

Summary Introduction

To determine: The advantages and disadvantages of time-based pay plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

b)

Summary Introduction

To determine: The advantages and disadvantages of incentive plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

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Answer 4

Question

Chapter 7, Problem 18DRQ

a)

Summary Introduction

To determine: The advantages and disadvantages of time-based pay plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

b)

Summary Introduction

To determine: The advantages and disadvantages of incentive plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

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Answer 5

Chapter 7, Problem 18DRQ

a)

Summary Introduction

To determine: The advantages and disadvantages of time-based pay plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

b)

Summary Introduction

To determine: The advantages and disadvantages of incentive plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

Answer 6

Chapter 7, Problem 18DRQ

a)

Summary Introduction

To determine: The advantages and disadvantages of time-based pay plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

Answer 7

Chapter 7, Problem 18DRQ

a)

Summary Introduction

To determine: The advantages and disadvantages of time-based pay plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

Answer 8

b)

Summary Introduction

To determine: The advantages and disadvantages of incentive plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

Answer 9

b)

Summary Introduction

To determine: The advantages and disadvantages of incentive plans.

Introduction: The amount of the dependency on human effort by an organization in terms of achieving its goals is given by the work design. It is directly linked to the productivity of an organization where good work design helps in achieving high productivity.

Answer 10

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Answer 11

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Answer 12

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Answer 13

Ch. 7.S - Prob. 1DRQ Ch. 7.S - Prob. 2DRQ Ch. 7.S - Prob. 3DRQ Ch. 7.S - Prob. 4DRQ Ch. 7.S - Prob. 5DRQ Ch. 7.S - Prob. 6DRQ Ch. 7.S - Prob. 7DRQ Ch. 7.S - Prob. 8DRQ Ch. 7.S - Prob. 9DRQ Ch. 7.S - Prob. 10DRQ

Solution Summary: The author explains the advantages and disadvantages of time-based pay plans, which provide flexibility to the organization and the worker.

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