A. Kleenway supermarket is comparing the two approaches to inventory management: Continuous review and periodic review: Use both approaches to evaluate the cost and recommend a method for Kleenway. Data given below.
Distribution of weekly demand |
Normal |
Mean |
1000 units per week |
Standard Deviation of weekly demand |
250 units |
Holding cost |
0.20 per unit per week |
Ordering cost |
2500 |
Lead time |
4 week |
Service level Desired |
90% |
Review period (when using periodic review) |
5 weeks |
Number of weeks per year |
50 |
Cost per unit |
100 |
Continuous review system |
Formula used (with numbers substituted for variables) |
Value obtained |
EOQ |
||
Mean lead time demand |
||
s.d. Lead time demand |
||
Z value for a service level of 90% |
||
Safety stock |
||
Reorder Level |
||
Total expected ordering cost per year |
||
Total expected holding cost per year |
||
Total expected cost per year |
||
Service level if SS is reduced by 300 units |
Periodic review system |
Formula used (with numbers substituted for variables) |
Value obtained |
Mean demand during (lead time + review period ) |
||
s.d. of demand during (lead time + review period ) |
||
Z value for a service level of 90% |
||
Safety stock |
||
Order up to Level |
||
Total holding cost per year |
||
Total ordering cost per year |
||
Total cost per year |
If there was no additional cost for continuous review, will that always be better than periodic review? Yes or No explain
In: Operations Management
You place an order for 1 box of granola bars off of Amazon, the shipment comes and there are 10 boxes of the granola bars. What are your obligations to the items you recieved?
In: Operations Management
1. Explain Coca-cola diversification and strategic alliances through Build-Borrow-or-Buy Framework.
In: Operations Management
This week you learned about the importance of evaluation. Using your current workplace as an example, distinguish the evaluation method you feel would be most useful. Justify the need for the changes that you feel could be made to the process to ensure a proper fit within the organization.
In: Operations Management
*Business Legal**
Discuss how the UCC changes the effect of the common law of contracts regarding the requirement of definiteness.
Discuss the implied warranties that arise under the UCC.
Discuss the similarities between the CISG and the UCC.
In: Operations Management
1.For your choice of two strategic controls, describe specifically what might go wrong if it is not done well, and illustrate with an original example.
2. Does an organization which has excellent operational control need strategic control? Explain
In: Operations Management
A project consists of two tasks. Task A is scheduled to begin at the start of Week 1 and finish at the end of Week 4. Task B is scheduled to begin at the start of Week 2 and finish at the end of Week 3. The budgeted cost for Task A is $80,000, and for Task B is $40,000.
1. Creat a cost loaded for this project:
Round the number to the closest integer number and input it without "$" and ',' signs.
Cost at Week 1:
Cost at Week 2:
Cost at Week 3:
Cost at Week 4:
2. At the end of the second week Task A is 50% complete, and Task B is 25% complete. Calculate the following items:
BCWS :
BCWP :
3. What is the schedule performance index for the project at the end of the second week (Round decimal numbers to 2 decimal places. If it is less than 1, write it in the following format: 0.xx)?
4. The actual cost of the work performed at the end of the second week is $40,000. Determine the cost performance index for the project (Round decimal numbers to 2 decimal places. If it is less than 1, write it in the following format: 0.xx).
In: Operations Management
Emerging technologies that are expected to impact an industry and should cover topics such as relevance and current/future use.
******PLEASE MAKE 5 SLIDES WITH EACH SLIDE WITH IMPORTANT BULLET POINTS FOCUSING ON MANUFACTURING ON CYBER SECURITY.
In: Operations Management
Describe an action a regulatory agency took against a business in the past 6 months. Post a link to your source. Do you agree or disagree with the action? Explain your reasoning and support it with the materials from this week.
Make sure you provide the link to the source and also make sure the company is in the US
In: Operations Management
Instructions: Read the Grand View Grocers Corporation case below.
Grand View Grocers Corporation, headquartered in Clewiston, Florida, is among the nation’s top grocery chain companies, with over $34 billion in revenue. It operates and owns approximately 1,500 grocery stores in 10 states and will be expanding operatons to Washington, D.C. in the near future.
Grand View Grocer’s Corporation’s operating strategy distinguishes it from other grocery chain companies. Each grocery store has a Training and Development Methods manager that allows decisions to be made locally, close to the client. This also makes Grand View Grocer Corporation’s service more responsive, reliable, and empathetic to its customers.
Recently, Grand View Grocers Corporation has identified a that there is an increase in the annual turnover rate for cashiers nationwide. The increase was found in newly hired cashiers, so it was determined that on-the-job training was ineffective.
Under the direction of the store manager, cashiers perform a variety of tasks, including:
*Receive payment by cash, check, credit cards, vouchers, or automatic debits.
*Issue receipts, refunds, credits, or change due to customers.
*Count money in cash drawers at the beginning of shifts to ensure that amounts are correct and that there is adequate change.
*Greet customers entering establishments.
*Maintain clean and orderly checkout areas.
*Establish or identify prices of goods, services or admission, and tabulate bills using calculators, cash registers, or optical price scanners.
*Issue cashier’s checks, money orders, mailing stamps, and redeem food stamps and coupons.
*Resolve customer complaints.
*Answer customers' questions, and provide information on procedures or policies.
*Cash checks for customers.
*Weigh items sold by weight in order to determine prices.
*Calculate total payments received during a time period, and reconcile this with total sales.
*Compute and record totals of transactions.
*Sell lotto tickets and other items to customers.
*Keep periodic balance sheets of amounts and numbers of transactions.
*Bag, box, wrap, or gift-wrap merchandise, when needed.
*Sort, count, and wrap currency and coins.
*Process returns and exchanges.
*Request information or assistance using paging systems.
*Stock shelves, and mark prices on shelves and items, when needed.
*Compile and maintain non-monetary reports and records.
Essential cashier functions include the following:
Perform for or Working Directly with the Public -- Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
Establish and Maintain Interpersonal Relationships -- Developing constructive and cooperative working relationships with others, and maintaining them over time.
Get Information -- Observing, receiving, and otherwise obtaining information from all relevant sources.
Identify Objects, Actions, and Events -- Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
Process Information -- Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
Describe in 350- to 525- words the training method or combination of training methods that you would recommend for training.
Justify in 350- to 525- words your choice of method(s).
In: Operations Management
You are the marketing manager for a company that creates video games. A big competitor has just released an action game that appeals to kids who own your best-selling game. Your competitor’s release is a better game because it takes advantage of features available in a hot new video game box. Your firm’s updated release won’t be available for at least 4 months. One of your game developers suggests that you pre-announce your game will be ready in 2 months which is about as long as gamers are likely to wait.
Should you announce that your new version is coming or just wait until you know more?
If a reporter for a popular gaming magazine calls and asks for a statement about when your firm’s release will be on the market, should you say two months, four months, or “we don’t know yet”?
If your product is pre-announced but then not ready by that date, what should your firm communicate to customers? Explain your thinking.
In: Operations Management
Identify an example of a project(s) on which you have worked. Discuss how it was managed. Could you have used any of the methods discussed in this unit?
*Note: please type it and has to be at least three paragrpahs.** Thank You!
It can be an project that you have worked on before
In: Operations Management
Crestview sells a particularly popular Christmas card once a year and distributes the cards to gift shops. It costs Crestview $0.5 per card to order from a printing company, and Crestview receives $1.0 for each card sold. The printing company costs $0.30 to print each card. Because the cards have the current year printed on them, those cards that are not sold are discarded at no value. Crestview has estimated that the demand for the coming Christmas season follows a normal distribution with a mean of 200,000 and standard deviation of 50,000.
A. Determine the optimal number of cards Crestview should order for the coming Christmas season.
B. Suppose Crestview has purchased a printing machine and will print cards themselves. The cost to print each card is still $0.30. Determine the optimal number of cards Crestview should print for the coming Christmas season.
C. Interpret the difference between the results in a) and b).
In: Operations Management
How does conflict arise in organizational negotiations?
In: Operations Management
Damage Expense Topic:
Violations of Internal Control Characters: Chris, New Distribution Supervisor at a large candy manufacturer Bob, Inventory Control Manager, Chris’s immediate boss Chris has been recently hired as the Distribution Supervisor for an international candy company. The plant is in a rural area and is about to begin a major expansion that will triple its capacity. The company has generous benefits and has paid all moving expenses for Chris and his family. During the move, however, the movers damaged a large piece of oak furniture. Chris has contacted the moving company. The insurance is by the pound and would cover only a small part of the worth of the item. Chris has explained this to the moving company, but it refuses to reimburse him for the item’s value. Chris approaches his supervisor, Bob, about the problem. Chris has been on the job about a month and enjoys the partnership they have developed to date. Chris had originally interviewed with Bob, and Bob’s recommendation had been a major factor in Chris’s getting the job. Chris has found the types of challenges he was looking for in a new position and is already becoming a major player in planning for the new expansion. Bob tells Chris that he does not think he can do anything to persuade the moving company to reimburse Chris and suggests that Chris pad his next few expense reports to cover the cost. Chris is surprised at Bob’s suggestion, because thus far Bob has dealt with him in a very evenhanded manner and has appeared to have strong business ethical standards.
Author: Originally developed by Michael Forget, graduate student at Washington University, as a class project in “Ethical Decision Making.” Edited and submitted by Dr. Raymond L. Hilgert, Professor of Management and Industrial Relations, Washington
Bad decision options:
1. Chris can go along with Bob's suggestion as he is going to be working along with Bob in the new company.
2. Chris can keep quite about the problem as he does not feel that anything can come out of arguing.
What are the pro and con of these alternative that chris could take and what are the best option that he can take with mention the pro and con for it?
In: Operations Management