In: Operations Management
Describe the best way to empower leaders ?
In: Operations Management
What is “process capability”? How can a firm generally improve process capability?
In: Operations Management
USING EXCEL IF NEEDED FOR CALCULATIONS
You are working in a Paper Company and the company needs to loan money from a bank to cover for the daily expenses. By analyzing the previous data, you come to the conclusion that the daily expenses are pretty stable at $17,000 per day, and the company works for 305 days a year. A bank has agreed to give you the loan, at an annual interest rate of 9% (i.e. for every dollar that you borrow, you will pay 9 cents) which will be collected at the end of the year. Any time you take a loan, the bank charges you a loan origination fee of $1,200 plus 2.25% of the amount borrowed.
a. Use an EOQ model to determine the optimal borrowing policy. This includes (1) the amount of loans you should borrow from the bank (i.e. borrow $300,000 loans at a time), (2) the total cost of your borrowing policy, and (3) the number of loans you should borrow in a year. The company would also like to know, if it takes the bank 15 days to process a loan, what is the level of cash on hand at which you should apply for a new loan?
b. Suppose the bank offers you a discount as follows: On any loan amount greater than $500,000, the bank will lower the origination fee to $1,200 plus 2% of the amount borrowed. What is the new optimal borrowing policy, considering the discount?
NOTES- Eventually you have to cover all daily expenses ($17,000/day x 305 days) using the money borrowed from the bank. The question is not how much to borrow in total, but how much to borrow at a time.
- You will always need $17,000 daily expenses on the day of the expense, so don’t think of all the interest that you’ll need to pay, but instead think of the interest as a holding cost associated with the extra money in your account.
- Write down the yearly total cost, and label each component as either the ordering cost, carrying cost, or the purchasing cost.
In: Operations Management
Need response as soon as possible.
List and briefly describe the steps to conducting an investigation of misconduct. Then describe the three possible conclusions that can be drawn upon completing such an investigation.
In: Operations Management
Need response as soon as possible.
List the six steps of the conflict resolution through supportive confrontation strategy.
In: Operations Management
Describe the functions of marketing channel members..please send 250 minimum words along with reference
In: Operations Management
Need response as soon as possible.
List some of the key considerations you should keep in mind when engaging in a directive decision-making process to ensure that you are being fair and consistent in your decision making.
In: Operations Management
In: Operations Management
16. Product placement decreases realism in programming, which is why producers rarely want to use them. Select one: True False
17. One disadvantage of consumer generated advertising is that consumer’s often resent being asked to do the marketer’s work for them. Select one: True False
18. Which of the following about product placements are true? Select one: a. Brand integration is the least invasive form of product placement. b. Producers must get permission from a company before placing a product in a production. c. None of the above statements is true. d. Paid product placements must now be disclosed in the credits at the end of a production in the U.S. e. Product placements primarily take place in movies and television only.
19. Fake shoppers, fake tourists, and leaners are examples of what type of buzz generating technique? Select one: a. Connectors b. Imitation evangelists c. Product pushers d. Stealth celebrity endorsers e. Mavens
20. According to Malcolm Gladdwell, author of the Tipping Point, connectors are product experts in a given product category. Select one: True False
In: Operations Management
Suppose you have been given responsibility for developing the six-month aggregate production plan at Soda Galore, a manufacturer of soft drinks. Your company makes three types of soft drinks: regular, diet, and super-caffeinated. Fortunately, all three types are made using the same production process, and the costs related to switching between the three types are so minimal that they can be ignored. Thus, you can treat your problem as an aggregate planning exercise where the planning unit is cases of soft drinks, regardless of what types of drinks they are.
The S&OP team has developed a forecast of demand for the first six months of the year as shown in Table 13-3. The S&OP team has also provided you with the cost data shown in Table 13-4.
The material cost of a case of soda is the same regardless of whether it is produced in regular time or overtime.
TABLE 13-3 Monthly Demand at Soda Galore
Month | Demand Forecast | |
January | 16,000 | cases |
February | 32,000 | cases |
March | 32,000 | cases |
April | 32,000 | cases |
May | 24,000 | cases |
June | 80,000 | cases |
Total Demand | 216,000 | cases |
Average Monthly Demand | 36,000 | cases |
|
TABLE 13-4 Soda Galore Planning Data
Current workforce | 10 | workers | |
Average monthly output per worker | 2,000 | cases per month | |
Inventory holding cost | $ | 0.40 | per case per month |
Regular wage rate | $ | 36 | per hour |
Regular production hours/month/worker | 235 | hours | |
Overtime wage rate | $ | 54.00 | per hour |
Hiring cost | $ | 1,000 | per worker |
Subcontracting cost | $ | 7.00 | per case |
Firing/layoff cost | $ | 1,500 | per worker |
Beginning inventory | 5,000 | (all safety stock) | |
|
Assume that employees negotiate an increase in the regular
production wage rate to $40 per hour and $60 per hour for overtime.
Also assume that Soda Galore always plans to hold at least 5,000
cases of safety stock to meet unanticipated customer demand. Assume
that hiring and layoff/firing, if necessary, occur at the beginning
of the month.
a. Using the planning information and the newly negotiated wage rates, develop a six-month production plan based on level production. (Leave no cells blank - be certain to enter "0" wherever required.)
|
b. Determine the cost of the level production
plan.
c. Using the planning information and the newly
negotiated wage rates, develop a six-month production plan based on
chase production. For the Overtime or Subcontract Plan, use the
lowest monthly demand value to compute the size of the fixed
workforce. (Leave no
cells blank - be certain to enter "0" wherever
required.)
|
|
d. Determine the cost of the chase production
plan.
|
e. After much internal discussion, the company
decides to maintain a permanent workforce of 10 production workers.
Given the same planning information and this new requirement,
develop a six-month production plan based on hybrid
production.(Leave no cells blank - be certain to enter "0" wherever
required.)
|
f. Determine the cost of the hybrid production
plan. Use the overtime
cost.
In: Operations Management
Interpret the law to devise a valid and ethical solution to a problematic workplace scenario and then present your case and solution to the scenario using multimedia
In: Operations Management
Answer in 250-300 words. What is the essence of the business case for why a company should engage in socially responsible actions and environmentally sustainable business practices?
In: Operations Management
In: Operations Management
Answer in 250-300 words. What is the difference between ethics and business ethics?
In: Operations Management