(1) C&A's potato chip filling process has a lower specification limit of 9.5 oz and an upper specification limit of 10.5 oz. The standard deviation is 0.3 oz. and the mean is 10 oz. What is the process capability index (Cp) for the chip filling process?
(a) 0.56
(b) 1.11
(c) 0.33
(d) 3.33
(2) Which of the following represents customer requirement from a process?
(a) Sample size in control charts
(b) USL and LSL
(c) Process standard deviation
(d) UCL and LCL
(3) The mean of a process is 50, and the standard deviation is 2. The company uses statistical control process (SPC) to monitor the process. It uses sample size on 4, and 3 sigma (z=3) control limits. What are the Upper Control Limit (UCL) and Lower Control Limit (LCL)?
(a) LCL=48 and UCL=52
(b) LCL=44 and UCL=56
(c) LCL=47 and UCL=53
(d) LCL=49 and UCL=51
(4) If a company narrows the control limits for a process without making any other changes, which of the following will happen?
(a) The process will generate more products not acceptable by customers
(b) The process will not be stopped even when assignable cause is present
(c) The capability index for the process will reduce to a lower value
(d) The process will be stopped more often suspecting assignable cause
In: Other
Urban Office LLC, a major office furniture manufacturer, and
supplier, manufactures office tables
according to the customer requirements. They have a workshop
facility where the table is
fabricated and a painting facility where the final finishing and
painting of the table is done. The
company follows a Job Order scheduling process where each job is
scheduled using appropriate
priority rules. During a particular period, the company receives
six different orders from six different
customers. The six orders with the respective processing time are
listed in table 1. The orders
are listed in the sequence in which the orders are received.
Considering the finite capacity
scheduling method, determine the most appropriate job sequence
which will maximize the number
of jobs that can be completed on time. Discuss the reasons for the
selection of the sequence. If
all the jobs could not be finished on time, what appropriate
measures could be taken to solve the
problem?
Job Time at the workshop
facility (Days)
Time at painting
facility (Days)
Days remaining till
due date
| Jobs | Time at workshop facility (Days) |
Time at painting facility (Days) |
Days remaining till due date |
| A | 2 | 5 | 12 |
| B | 2 | 6 | 10 |
| C | 3 | 3 | 12 |
| D | 5 | 4 | 9 |
| E | 5 | 7 | 10 |
| F | 5 | 3 | 11 |
Table 1 : Details given
In: Economics
Urban Office LLC, a major office furniture manufacturer, and
supplier, manufactures office tables
according to the customer requirements. They have a workshop
facility where the table is
fabricated and a painting facility where the final finishing and
painting of the table is done. The
company follows a Job Order scheduling process where each job is
scheduled using appropriate
priority rules. During a particular period, the company receives
six different orders from six different
customers. The six orders with the respective processing time are
listed in table 1. The orders
are listed in the sequence in which the orders are received.
Considering the finite capacity
scheduling method, determine the most appropriate job sequence
which will maximize the number
of jobs that can be completed on time. Discuss the reasons for the
selection of the sequence. If
all the jobs could not be finished on time, what appropriate
measures could be taken to solve the
problem?
Job Time at the workshop
facility (Days)
Time at painting
facility (Days)
Days remaining till
due date
| Jobs | Time at workshop facility (Days) |
Time at painting facility (Days) |
Days remaining till due date |
| A | 2 | 5 | 12 |
| B | 2 | 6 | 10 |
| C | 3 | 3 | 12 |
| D | 5 | 4 | 9 |
| E | 5 | 7 | 10 |
| F | 5 | 3 | 11 |
Table 1 : Details given
In: Accounting
Critical Thinking
The global marketplace has witnessed an increased pressure from customers and competitors in manufacturing as well as service sector (Basu, 2001; George, 2002). Due to the rapidly changing global marketplace only those companies will be able to survive that will deliver products of good quality at cheaper rate and to achieve their goal companies try to improve performance by focusing on cost cutting, increasing productivity levels, quality and guaranteeing deliveries in order to satisfy customers (Raouf, 1994).
Increased global competition leads the industry to increasing efficiency by means of economies of scale and internal specialization so as to meet market conditions in terms of flexibility, delivery performance and quality (Yamashina, 1995). The changes in the present competitive business environment are characterized by profound competition on the supply side and keen indecisive in customer requirements on the demand side. These changes have left their distinctive marks on the different aspect of the manufacturing organizations (Gomes et al., 2006). With this increasing global economy, cost effective manufacturing has become a requirement to remain competitive.
To meet all the challenges organizations try to introduce different manufacturing and supply techniques. Management of organizations devotes its efforts to reduce the manufacturing costs and to improve the quality of product. To achieve this goal, different manufacturing and supply techniques have been employed. The last quarter of the 20th century witnessed the adoption of world-class, lean and integrated manufacturing strategies that have drastically changed the way manufacturing firm’s leads to improvement of manufacturing performance (Fullerton and McWatters, 2002).
Consult chapter 7 of your text book or secondary available data on internet and answer the following questions.
Question:
The Answer should be within 4- 5 pages.
The Answer must follow the outline points below:
In: Operations Management
Critical Thinking
The global marketplace has witnessed an increased pressure from customers and competitors in manufacturing as well as service sector (Basu, 2001; George, 2002). Due to the rapidly changing global marketplace only those companies will be able to survive that will deliver products of good quality at cheaper rate and to achieve their goal companies try to improve performance by focusing on cost cutting, increasing productivity levels, quality and guaranteeing deliveries in order to satisfy customers (Raouf, 1994).
Increased global competition leads the industry to increasing efficiency by means of economies of scale and internal specialization so as to meet market conditions in terms of flexibility, delivery performance and quality (Yamashina, 1995). The changes in the present competitive business environment are characterized by profound competition on the supply side and keen indecisive in customer requirements on the demand side. These changes have left their distinctive marks on the different aspect of the manufacturing organizations (Gomes et al., 2006). With this increasing global economy, cost effective manufacturing has become a requirement to remain competitive.
To meet all the challenges organizations try to introduce different manufacturing and supply techniques. Management of organizations devotes its efforts to reduce the manufacturing costs and to improve the quality of product. To achieve this goal, different manufacturing and supply techniques have been employed. The last quarter of the 20th century witnessed the adoption of world-class, lean and integrated manufacturing strategies that have drastically changed the way manufacturing firm’s leads to improvement of manufacturing performance (Fullerton and McWatters, 2002).
Consult chapter 7 of your text book or secondary available data on internet and answer the following questions.
Question:
The Answer should be within 4- 5 pages.
The Answer must follow the outline points below:
with APA style reference
In: Operations Management
Critical Thinking
The global marketplace has witnessed an increased pressure from customers and competitors in manufacturing as well as service sector (Basu, 2001; George, 2002). Due to the rapidly changing global marketplace only those companies will be able to survive that will deliver products of good quality at cheaper rate and to achieve their goal companies try to improve performance by focusing on cost cutting, increasing productivity levels, quality and guaranteeing deliveries in order to satisfy customers (Raouf, 1994).
Increased global competition leads the industry to increasing efficiency by means of economies of scale and internal specialization so as to meet market conditions in terms of flexibility, delivery performance and quality (Yamashina, 1995). The changes in the present competitive business environment are characterized by profound competition on the supply side and keen indecisive in customer requirements on the demand side. These changes have left their distinctive marks on the different aspect of the manufacturing organizations (Gomes et al., 2006). With this increasing global economy, cost effective manufacturing has become a requirement to remain competitive.
To meet all the challenges organizations try to introduce different manufacturing and supply techniques. Management of organizations devotes its efforts to reduce the manufacturing costs and to improve the quality of product. To achieve this goal, different manufacturing and supply techniques have been employed. The last quarter of the 20th century witnessed the adoption of world-class, lean and integrated manufacturing strategies that have drastically changed the way manufacturing firm’s leads to improvement of manufacturing performance (Fullerton and McWatters, 2002).
secondary available data on internet and answer the following questions.
Question:
Why Companies adopted Lean Thinking and JIT model?
Discuss major types of Waste, companies has to keep in mind during production.
Assess the reasons for using lean thinking (suitable examples), what are the benefits from Suppliers to end users?
Due to COVID 19 emergency do you think agile supply chain is the right concept in this kind of situation? Give reason with example.
The Answer should be within 4- 5 pages.
The Answer must follow the outline points below:
Lean Thinking and JIT Concept
Agile Supply chain
Their Main functions
Reasons with suitable Examples
Reference
In: Operations Management
course: MGT322 Logistics management
Critical Thinking
The global marketplace has witnessed an increased pressure from customers and competitors in manufacturing as well as service sector (Basu, 2001; George, 2002). Due to the rapidly changing global marketplace only those companies will be able to survive that will deliver products of good quality at cheaper rate and to achieve their goal companies try to improve performance by focusing on cost cutting, increasing productivity levels, quality and guaranteeing deliveries in order to satisfy customers (Raouf, 1994).
Increased global competition leads the industry to increasing efficiency by means of economies of scale and internal specialization so as to meet market conditions in terms of flexibility, delivery performance and quality (Yamashina, 1995). The changes in the present competitive business environment are characterized by profound competition on the supply side and keen indecisive in customer requirements on the demand side. These changes have left their distinctive marks on the different aspect of the manufacturing organizations (Gomes et al., 2006). With this increasing global economy, cost effective manufacturing has become a requirement to remain competitive.
To meet all the challenges organizations try to introduce different manufacturing and supply techniques. Management of organizations devotes its efforts to reduce the manufacturing costs and to improve the quality of product. To achieve this goal, different manufacturing and supply techniques have been employed. The last quarter of the 20th century witnessed the adoption of world-class, lean and integrated manufacturing strategies that have drastically changed the way manufacturing firm’s leads to improvement of manufacturing performance (Fullerton and McWatters, 2002).
Consult chapter 7 of your text book or secondary available data on internet and answer the following questions.
Question:
Why Companies adopted Lean Thinking and JIT model?
Discuss major types of Waste, companies has to keep in mind during production.
Assess the reasons for using lean thinking (suitable examples), what are the benefits from Suppliers to end users?
Due to COVID 19 emergency do you think agile supply chain is the right concept in this kind of situation? Give reason with example.
The Answer should be within 4- 5 pages.
The Answer must follow the outline points below:
Lean Thinking and JIT Concept
Agile Supply chain
Their Main functions
Reasons with suitable Examples
Reference
In: Operations Management
Transactions from Gravenhurst Inc.’s current year follow.
Gravenhurst follows IFRS.
| 1. | Gravenhurst Inc. thinks it should dispose of its excess land.
While the carrying value is $50,000, current market prices are
depressed and only $25,000 is expected upon disposal. The following
journal entry was made:
|
||||||||||||||||||||
| 2. | Merchandise inventory that cost $630,000 was reported on the
statement of financial position at $690,000, which is the expected
selling price less estimated selling costs. The following entry was
made to record this increase in value:
|
||||||||||||||||||||
| 3. | The company is being sued for $500,000 by a customer who claims
damages for personal injury that was allegedly caused by a
defective product. Company lawyers feel extremely confident that
the company will have no liability for damages resulting from the
situation. Nevertheless, the company decides to make the following
entry:
|
||||||||||||||||||||
| 4. | Because the general level of prices increased during the
current year, Gravenhurst Inc. determined that there was a $15,000
understatement of depreciation expense on its equipment and decided
to record it in its accounts. The following entry was made:
|
||||||||||||||||||||
| 5. | Gravenhurst Inc. has been concerned about whether intangible
assets could generate cash in case of liquidation. As a result,
goodwill arising from a business acquisition during the current
year and recorded at $800,000 was written off as follows:
|
||||||||||||||||||||
| 6. | Because of a “fire sale,” equipment that was obviously worth
$200,000 was acquired at a bargain price of $155,000. The following
entry was made:
|
||||||||||||||||||||
In each of the above situations, discuss the appropriateness of the
journal entries in terms of generally accepted accounting
principles. For the purposes of your discussion, assume that the
financial statements, particularly net income, will be used by the
court in a divorce settlement for the company president’s
spouse.
In: Accounting
Seattle-Pipes Co. produces pipes to be supplied to a Seattle utility company. The requirement of the utility company is that the pipes need to be 200 cm long. Longer pipes are acceptable to the utility company but any pipe less than 200 cm is rejected. Seattle-Pipes loses all its production cost on pipes that are rejected.
The production process is such that it has some variability in the lengths of pipes produced, and this variability can be well approximated by a Normal distribution. Seattle- Pipes can adopt one of the following three production processes:
Process A: Produces pipes with an average length of 200 cm and a standard deviation of 0.5 cm
Process B: Produces pipes with an average length of 201 cm and a standard deviation of 1 cm
Process C: Produces pipes with an average length of 202 cm and a standard deviation of 1.5 cm
If Seattle-Pipes adopts the third Process (Process “C”), what is the probability it will haveits pipe rejected by the utility company? Enter your answer as a decimal probability (not a percent) rounded to 4 decimal places.
b) Seattle-Pipes temporarily changes its requirements and has a new requirement that it will accept any pipe of length from 199 cm to 202 cm. That is, pipes ranging in length from 199 cm to 202 cm will be accepted, others will be rejected.
With this changed requirement, which production process (out of the 3) will result in the smallest percentage of rejections?
c) Seattle-Pipes earns a revenue of $200 for every pipe that gets accepted and loses all money for any pipe that is rejected. The cost of producing the pipes is $140 per pipe ifproduction process “A” is used, $160 per pipe if production process “B” is used, and $177 per pipe if production process “C” is used.
Given this information, which production process would you recommend to maximize profits (revenue minus cost) if the requirement of the utility company is that pipes need to be of 200 cm (or more) and any pipe shorter than 200 cm is rejected?
In: Statistics and Probability
Pandalela Products manufacturers a variety of household products. The company is considering introducing a new detergent. The company's CFO has collected the following information about the proposed product.
* The project has an anticipated economic life of 4 years.
*The company will have to purchase a new machine to produce detergent. The machine has an up-front cost (t=0) of RM 2million. The machine will be depreciated on a straight-line basis over 4 years (that is , the company's depreciation expense will be RM 500,000in each of the first four years (t = 1,2,3 and 4). The company anticipates that the machine will last for four years, and that after four years, its salvage value will equal zero.
* If the company goes ahead with the proposed product, it will have an effect on the company's net operating working capital. At the outset, t=0, inventory will increase by RM 140,000 and accounts payable will increase by RM 40,000. At t=4, the net operating working capital will be recovered after the project is completed.
* The detergent is expected to generate sales revenue of RM 1 million the first year ( t=1), RM2 million the second year (t=2), RM 2 million the third year (t = 3), and RM 1 million the final year (t = 4). Each year the operating cost (not including depreciation) are expected to equal 50% of sales revenue.
* The company's interest expenses each year will be RM100,000.
* The new detergent is expected to reduce the after tax cash flows of the company's existing products by RM250,000 a year (t=1,2,3 and 4).
* The company's overall WACC is 10%. However the proposed project is riskier than the average project for Pandalela Products; the project's WACC is estimated to be 12%.
* The company's tax rate is 40%.
a. Determine the relevant cash flows for this project.
b. What is the internal rate of return of the project?
c. What is the net present value of the project?
d. Should the company proceed with the project? Why?
In: Finance