what are the two most important skills a business analyst should have when trying to attack a business intelligence problem? Why do you feel this way?
In: Operations Management
For Bill Gates and for Steve Jobs, Describe the leaders’ styles in as much detail as possible.
In: Operations Management
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:
| Let Dj = | annual demand for item j |
| Cj = | unit cost of item j |
| Sj = | cost per order placed for item j |
| i = | inventory carrying charge as a percentage of the cost per unit |
| W = | the maximum amount of space available for all goods |
| wj = | space required for item j |
The decision variables are Qj, 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 (Dj/Qj is the number of orders), and the last term is the annual inventory holding cost (Qj/2 is the average amount of inventory).
Set up a spreadsheet model for the following data:
| Item 1 | Item 2 | Item 3 | |
| Annual Demand | 2,500 | 2,500 | 1,500 |
| Item Cost ($) | 100 | 50 | 80 |
| Order Cost ($) | 165 | 145 | 125 |
| Space Required (sq. feet) | 50 | 25 | 40 |
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 = $
In: Operations Management
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.
| Apr 2020: 1463 | Mar 2020: 1372 | Feb 2020: 1087 | Jan 2020: 1316 | Dec 2019: 1346 | Nov 2019: 1224 |
| Oct 2019: 1050 | Sep 2019: 1201 | Aug 2019: 1320 | Jul 2019: 1232 | Jun 2019: 1472 | May 2019: 1323 |
| Apr 2019: 1490 | Mar 2019: 1464 | Feb 2019: 1147 | Jan 2019: 1208 | Dec 2018: 1471 | Nov 2018: 1085 |
| Oct 2018: 1477 | Sep 2018: 1045 | Aug 2018: 1473 | Jul 2018: 1171 | Jun 2018: 1480 | May 2018: 1433 |
| Apr 2018: 1369 | Mar 2018: 1157 | Feb 2018: 1079 | Jan 2018: 1095 | Dec 2017: 1127 | Nov 2017: 1445 |
| Oct 2017: 1381 |
In: Operations Management
in VBA
What is the major benefit of using Select Case over IF statements? Provide an example of when you would use Select Case.
In: Operations Management
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.
In: Operations Management
In: Operations Management
How could have technology improved the onboarding experience for new hires?
In: Operations Management
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.
In: Operations Management
Answer the following three questions. You can use any reference to write your answers (e.g., textbook, articles, internet web pages, etc.
The length of your answers shall not exceed 6 pages (2 pages for each question).
In: Operations Management
Discuss the origin of the institutional approach to marketing with references using APA 6th reference format
In: Operations Management
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?
In: Operations Management
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
In: Operations Management
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.
In: Operations Management
In: Operations Management