Questions
Different economic Factors

1. Explain what is Economic Factor of a Security company.

2. Explain what is Environmental Factor for a Security Company.

In: Operations Management

Case: Covid-19 and Leadership Response

The COVID-19 pandemic remains a health and humanitarian crisis, but the business impact
on organizations is now profound. As governments make significant interventions in response to
the coronavirus, businesses are rapidly adjusting to the changing needs of their people, their
customers and suppliers, while navigating the financial and operational challenges. With every
industry, function and geography affected, the amount of potential change to think through can be
daunting. The greatest immediate impact of the COVID-19 outbreak is on people. Organizations
are focused on caring for their workforces while rapidly managing the shift to new patterns of
work. At this critical time, leaders must see through these changes in ways that gain and maintain
the trust of their people. That trust depends on leaders demonstrating their care for individuals as
well as the wider workforce and community. It means sharing a clear plan and transparently
showing how decisions are made. And it requires leadership teams who can proactively respond
rather than react, anticipating their people’s changing needs. This is particularly important in

Public Service organizations, where leadership needs to calm markets and reassure citizens,
businesses, government employees and community stakeholders. When faced with a crisis, most
leaders are forced to think and behave in ways that feel unfamiliar. Whether it’s a technological,
financial, natural, or health crisis — at work or in the community — crises demand that leaders
take an emergency response plan and adapt it as new evidence and factors present themselves.
All the while, effective leaders are able to remain calm and maintain a sense of perspective.
The global COVID-19 pandemic has forever changed our experiences―as customers, employees,
citizens, humans―and our attitudes and behaviors are changing as a result. Once the immediate
threat of the virus has passed, what will have changed in the way we think and behave, and how
will that affect the way we design, communicate, build and run the experiences that people need
and want? The answers to these questions will be revealed in the ways people and businesses react
and find innovative ways to rise above these challenging times.
According to Gene Klann, author of book Crisis Leadership, “During a crisis, your goal
is to reduce loss and keep things operating as normal as possible.” Especially as organizational
leaders face the current coronavirus (COVID-19) pandemic and associated disruptions in the
global economy, Klann recommends the following 5 actions to prepare and respond.
5 Ways to Lead and Adapt Through a Crisis
1. Seek credible information.
2. Use appropriate communication channels.
3. Explain what your organization is doing about the crisis.
4. Be present, visible, and available.
5. Dedicate organizational resources for future crises.

Answer the following question based on above case

1. Klann recommends the 5 actions to prepare and respond for business after Covid19
Pandemic. Explain the above actions in context of your organization with word limit of
250 words? Summarize the above case study in your view with not more than 250 words?   

In: Operations Management

Ideas for organization in COVID-19

  1. During Covid 19 Pandemic. Discuss FOUR (4) ideas to help the organization to sustain their operation.

In: Operations Management

Purchase Process in COVID-19

Being new to the business, the company is also unaware of how the purchase process would be followed.
You as a financial service provider, help them in what procedure to follow in the purchasing process of
inventory and also guide them on how does their approach of purchasing change during this Pandemic
Covid-19 situation?

In: Operations Management

Risk Assessment and Business Impact Analysis

Describe the differences and similarities between risk assesment and business impact analysis.

In: Operations Management

Applying a continuous improvement process in an organization

In detailed explanation discuss the benefits and potential drawbacks of applying a continuous improvement process in an organization

In: Operations Management

Over which product do you suggest the firm keep the tightest control?

Your company has compiled the following data on the small set of products that comprise the specialty repair parts division. Perform ABC analysis on the data. Over which product do you suggest the firm keep the tightest control?

$$ \begin{array}{|c|c|c|} \hline \text { SKU } & \text { Annual Demand } & \text { Unit cost } \\ \hline \text { R11 } & 125 & \$ 25 \\ \hline \text { S22 } & 55 & \$ 90 \\ \hline \text { T33 } & 100 & \$ 500 \\ \hline \text { U44 } & 150 & \$ 550 \\ \hline \text { V55 } & 2000 & \$ 4 \\ \hline \end{array} $$

  • S22
  • R11
  • U44
  • V55
  • T33

In: Operations Management

What is the inventory carrying cost per unit per year for this item?

For a certain item, the cost-minimizing order quantity obtained with the basic EOQ model is 200 units, and the total annual inventory (carrying and setup) cost is $600. What is the inventory carrying cost per unit per year for this item?

 

In: Operations Management

The assumptions of the production order quantity model are met in a situation where annual demand is 3650 units

The assumptions of the production order quantity model are met in a situation where annual demand is 3650 units, the setup cost is $50, holding cost is $12 per unit per year, the daily demand rate is 10 and the daily production rate is 100. The production order quantity for this problem is approximate.

 

In: Operations Management

The production order quantity for this problem is approximately 612 units. What is the average inventory for this problem?

a production order quantity problem has a daily demand rate = 10 and a daily production rate = 50. The production order quantity for this problem is approximately 612 units. What is the average inventory for this problem?

 

In: Operations Management

A certain type of computer costs $1,000, and the annual holding cost is 25% of the value of the item.

Section A: This section carries 10 points

A certain type of computer costs $1,000, and the annual holding cost is 25% of the value of the item. Annual demand is 10,000 units, and the order cost is $150 per order. What is the approximate economic order quantity? What is the total inventory cost?

Section B: This section carries 10 points

What is the difference between continuous review system and periodic review system?

 

In: Operations Management

The two most basic inventory questions answered by the typical inventory model are:

The two most basic inventory questions answered by the typical inventory model are:

  • A) timing of orders and cost of orders.
  • B) order quantity and cost of orders.
  • C) timing of orders and order quantity.
  • D) order quantity and service level.
  • E) ordering cost and carrying cost.

 

In: Operations Management

Which of the following is NOT one of the four main types of inventory?

Which of the following is NOT one of the four main types of inventory?

  • A. raw material inventory 
  • B. work-in-process inventory
  • C. maintenance/repair/operating supply inventory (MRO)
  • D. just-in-time inventory 
  • E. finished -goods inventory Reset Selection

In: Operations Management

The objective of inventory management is to

The objective of inventory management is to

  • A. strike a balance between inventory investment and customer service.
  • B. take advantage of quantity discounts.
  • C. decouple various parts of the production process.
  • D. provide a selection of goods for anticipated customer demand.

 

In: Operations Management

Which NIMS guiding principle supports interoperability among multiple organizations?

Which NIMS guiding principle supports interoperability among multiple organizations?

  • A. Adaptability
  • B. Standardization
  • C. Flexibility
  • D. Unity of Effort

In: Operations Management