The Economic Order Quantity (EOQ) model is a classical model used for controlling inventory and satisfying demand. Costs included in the model are holding cost per unit, ordering cost and the cost of goods ordered. The assumptions for that model are that only a single item is considered, that the entire quantity ordered arrives at one time, that the demand for the item is constant over time, and that no shortages are allowed.

Suppose we relax the first assumption and allow for multiple items that are independent except for a restriction on the amount of space available to store the products. The following model describes this situation:

The decision variables are Q_j, the amount of item j to order. The model is:

In the objective function, the first term is the annual cost of goods, the second is the annual ordering cost (D_j/Q_j is the number of orders), and the last term is the annual inventory holding cost (Q_j/2 is the average amount of inventory).

Set up a spreadsheet model for the following data:

W = $21,000

i = 0.3

Solve the problem using Excel Solver. Hint: You will need to start with decision variable values that are greater than 0 for Solver to find a solution.

If required, round your answers to two decimal places.

Optimal Solution:

Q₁ =  

Q₂ =  

Q₃ =  

If required, round your answer to the nearest dollar. Do not round intermediate calculations.

Total cost = $

The accounting department needs to forecast electricity expense for one of the buildings. The data for several months is supplied below. Be careful since the data is listed beginning with the most recent. The forecasting method to be used here is the linear regression. Please round your forecast to the nearest whole number.

in VBA

What is the major benefit of using Select Case over IF statements? Provide an example of when you would use Select Case.

Can a Single Online Respondent Pool Offer a Truly Representative Sample?

Online research programs can often benefit by building samples from multiple respondent pools. Achieving a truly representative sample is a difficult process for many reasons. When drawing from a single source, even if researchers were to use various verification methods, demographic quotas, and other strategies to create a presumably representative sample, the selection methods them- selves create qualitative differences—or allow them to develop over time. The same is true of the parameters under which the online community or respondent pool was formed (subject matter mix, activities, interaction opportunities, etc.). Each online community content site is unique, and members and visitors choose to participate because of the individual experience their preferred site provides. As such, the differences between each site start to solidify as site members share more and more similar experiences and differences within the site’s community decrease. (Think, birds of a feather flock together.)

As such, researchers cannot safely assume that any given online respondent pool offers an accurate probability sample of the adult U.S. or Internet population. Consequently, both intrinsic (personality traits, values, locus of control, etc.) and extrinsic (panel tenure, survey participation rates, etc.) differences will contribute variations to response‐measure distribution across respondent pools. To control distribution of intrinsic characteristics in the sample while randomizing extrinsic characteristics as much as possible, researchers might need to use random selection from multiple respondent pools.

The GfK Research Center for Excellence in New York performed a study to see how the distribution of intrinsic and extrinsic individual differences varied between respondent pools. Respondents were drawn from five different online resource pools, each using a different method to obtain survey respondents. A latent class regression method separated the respondents into five underlying consumer classes according to their Internet‐usage driver profiles.

Researchers then tested which of the intrinsic characteristics tended to appear within the different classes. No variable appeared in more than three classes. Furthermore, the concentration of each class varied considerably across the five respondent pools from which samples were drawn.

Within the classes themselves, variations appeared in their demographic distributions. One of the five experienced a significant skew based on gender, and two other classes exhibited variable age concentrations, with one skewed toward younger respondents and the other toward older ones.

Overall, GfK’s study revealed numerous variations across different respondent resource pools. As their research continues, current findings suggest that researchers must be aware of these trends, especially in choosing their member acquisition and retention strategies and in determining which and how many respondent pools to draw from.

1. If one respondent pool is not sufficient, how many do you think you would have to draw from to get a truly representative sample? Why do you think that?
2. When creating a sample, how would you propose accounting for the types of extrinsic characteristics mentioned?

How could have technology improved the onboarding experience for new hires?

think of two organizations, activities, clubs, etc. that you are involved in (or very familiar with). This can be a sports team, church group, school club or organization, job, etc.

Write a press release for 2 different organizations/groups based on an actual or hypothesized upcoming/ongoing event. You must choose two different groups/events and have two different press releases. The body of each release must be at least 300 words in length (headings that include your contact information are excluded from the word count). Yes, that means the total of your two submissions is at least 600 words in length!

Examples?

Health center opening or offerings

Emergency Management courses offered

Political candidacy announcement

School club fundraiser/community service event

Winning of sports championship

…..or whatever else real or fictitious you would like to use as your subject matter.

Discuss the origin of the institutional approach to marketing with references using APA 6th reference format

John Tuckland, the CEO of the Storedalsgatan (STI), believes that the company can significantly increase its operating profit by implementing supply chain management. STI manufactures a variety of consumer electronic products, from hair dryers to humidifiers to massagers, for the world market.

John believes that STI has already integrated its internal processes and is ready to proceed with external integration. However, he is uncertain as to which direction to take. Should the company work on integrating the suppliers or the distributors first? Currently, STI uses approximately 1250 different components and/or raw materials in manufacturing its product line. Those components and raw materials are purchased from approximately 275 different suppliers around the world. In terms of distribution, STI currently sends its finished products to a central warehouse that supplies 10 regional distribution centers (RDC); 6 are domestic and 4 are located outside of the United States. Each RDC supplies an average of 12 local distributors that each supply an average of 25 retailers.

John is looking for some advice.

1. Briefly describe STI's supply chain.

2. What are the advantages that STI can gain by implementing supply chain management?

3. What would you recommend STI attempt next? Should it work on integrating the suppliers or the distributors first? Or should it work on both simultaneously?

4. What are your recommendations with regard to the external distributors?

The company officers have made a decision to develop partnerships with a group of distributors. These distributors will employ sales people to call on retailers who sell Body Glove products. What steps can Body Glove take to ensure that retailers and retail customers receive excellent service? Give reasons to justify your steps

modern inspection technologies are either optical or non-optical, search for 5 different modern inspection technologies and summarize their: (a) working principle(s); (b) applications in the industry; (c) effectiveness in finding the defects; (d) speed of inspection in high-volume manufacturing settings, and (e) ability to perform non-destructive testing on the samples .for example Radiation techniques or Ultrasonic techniques.

1.Describe the type of political risk a firm in a specific industry would face in any one of today’s emerging markets you are familiar with or have some knowledge of. Select a country and make an assumption that may help in you answering this question, based on the firm’s size or products, among others. (5 sentences max)

2.Identify and describe briefly two host-country sources of political risk a firm would face as it expands abroad.(5 sentences max)

Please study the article below and choose one specific corporation & business at your choice from the most unstable industries in the U.S. right now, in April 2020 due to corona virus impact and discuss in a word document the following topics (please do a brief research using external internet resources, website of the corporation, annual or quarterly company reports or your required book and OSM 311 power points):

-Company products & services

-The impact on sales or revenue or profit for this corporation of the corona virus effect on customers, supply chain, operation & employees, distribution, shelter in place government & state decision.

-What should you decide on inventory management (Anticipation inventory or Seasonal Inventory and safety inventory) as an operation manager for this company

-How can you reduce the inventory cost (slide 14) and Total cost minimization (slide 22-25).

-Losses & how to maximize the gross profit (review the break-even point)?

-Operations Strategies that your recommend for this business & corporation in this difficult situation of the economy (required book, page 581).

Airlines

With people around the world being asked to stay home and travel bans preventing people from entering and leaving certain countries becoming more common, the airline industry has been suffering major losses. Vertical Research Partners said that passenger revenues could decline to zero by the end of the first quarter and stay there for the whole year, Reuters reported.

Many major airlines have taken a hit. For example, Lufthansa has idled 700 of its 763 aircraft, and Qantas made plans to cut all international flights, which means 30,000 of its workers would need to take paid or unpaid leave.

The airline industry has been asking for government aid to get through the crisis, and on March 27, the U.S.’s coronavirus aid package passed, which would provide $58 billion to the American airline industry, Business Insider reported. The bill protects airline employee jobs through Sept. 30.

Many stakeholders see this as a win, including Delta Airlines and the Association of Flight Attendants.

“This is an unprecedented win for frontline aviation workers and a template all workers can build from,” Association of Flight Attendants president Sara Nelson said in a statement obtained by Business Insider. “The payroll grants we won in this bill will save hundreds of thousands of jobs and will keep working people connected to healthcare many will need during this pandemic.”

However, other experts think the bailout won’t be enough to save the industry, which relies on passengers to make revenue.

“We have an airline industry right now that is flying empty planes,” airline consultant Mike Boyd told CNN. “This isn’t going to save the industry unless we get back in [the] business of flying people.” And it’s unknown when that time might come.

“We’re talking about at least six to eight months down the road before flying starts to resume at anything approaching normal,” Boyd said. “And even then, we’re likely to see a significant reduction. One way or another, we’re going to have a smaller airline industry.”

Auto Manufacturing

Ford, General Motors, Fiat Chrysler, Honda, Toyota, Nissan and Hyundai have all shut down manufacturing plants amid concerns about the spread of the coronavirus, ABC News reported. The closing of  Ford, General Motors and Fiat Chrysler’s Detroit facilities will leave 150,000 workers without jobs, though they are likely to receive supplemental pay in addition to unemployment benefits.

However, the slowdown in demand for cars as a result of the coronavirus could have major ripple effects. According to one projection, for every seven-day period that consumers stop buying new vehicles, the U.S. economy would lose roughly 94,400 jobs and $7.3 billion in overall earnings, NBC News reported.

Construction

Although the construction industry is pushing to be seen as “essential” to keep their projects running, there could still be some major impacts to the industry. The shutdown of the production of construction materials in China could lead to material delays and more expensive materials stateside, Construction Dive reported. It could also lead to fewer projects, especially in the realm of hospitality, as clients and lenders pull back on funding and expansion in these times of uncertainty.

“My gut tells me we’re going to see higher prices and projects canceled, although I can’t point to the extent of it,” Joe Natarelli, national construction industry leader at accounting services firm Marcum, told Construction Dive.

Cruises

All the major cruise lines have ceased operations as countries continue to close their ports. Thousands of workers have lost their jobs — both those who work on the cruise ships and those who work at the ports — and the values of the three biggest U.S. cruise lines — Carnival, Royal Caribbean and Norwegian — have all plummeted, The Guardian reported.

“This will be a disastrous time for the industry,” Dr. Christopher Muller, a senior professor at Boston University’s School of Hospitality Administration, told The Guardian. “When you have 3,500 people booked on one of these mega cruises and the boat doesn’t go, it’s an enormous expense. Someone’s paying for that boat that’s sitting idle in the harbor and it’s very hard to recapture those ongoing fixed-cost losses.”

However, he believes the industry will be able to bounce back eventually.

“The logical thing is they will have to have very deep discounts, and those deep discounts will be especially present in the next cycle of cruise seasonality in September,” Muller said. “By August and September, the consuming public will be enticed to go back on cruises because the pricing is going to be outrageously good with enormous discounts.”

Film and TV Production

Major networks and film studios have put a halt on production as a result of the coronavirus outbreak. Netflix has stopped production on all shows in the U.S. and Canada, including “Stranger Things” season four; NBC Universal has suspended production on 35 or more shows; and Warner Bros., Disney +, Apple TV +, CBS, AMC and Viacom have all also paused production on their shows, Forbes reported.

The release dates of several major films have also been pushed, including “Wonder Woman 1984,” “In the Heights,” “Black Widow” and “A Quiet Place Part II,” while others have been released straight to streaming.

Over 100,000 entertainment industry workers have lost their jobs, while studios, networks and producers face major losses, the Los Angeles Times reported.

“There may be irrecoverable losses to the movie and entertainment industry,” Brian Kingman, who helps film and television companies find insurance policies, told the Los Angeles Times. “It’s going to take a long time to sort out.”

Gambling

As a result of the coronavirus, 92% of all of the casinos in America are now closed, including those in Las Vegas, the Las Vegas Review-Journal reported. In addition, the legal sports betting industry is also suffering as live sporting events have been canceled or postponed, Business Insider reported.

These closures not only affect the hospitality and gaming employees who are now out of work, but also the U.S. economy as a whole. If casinos remain closed for two months, it would rob the U.S. economy of $43.5 billion in economic activity, the Las Vegas Review-Journal reported.

Gyms

Many gyms and fitness studios have temporarily closed as a result of the coronavirus. But the pandemic hasn’t been bad for all sectors of the fitness industry — it’s actually been good news for Peloton, which has seen an increase in share prices, CNBC reported. But as people invest more in their at-home gyms while traditional gyms and fitness studios are closed, they might be reluctant to go back once they are open, feeling that they need to justify the thousands they just spent on new equipment.