1304 Words6 Pages

Case: UPD Manufacturing
Given,
Demand, d = 6
Ordering Interval, OI = 89
Ordering cost, S = $32
Holding Cost/Carrying Cost, H = $.08
As there is no demand variability, the formula for quantity is: Q = d (LT + OI) – A
(as there is no safety stock) ------- A - ROP (Reorder point) We know, A = d * LT, so the fixed order interval order quantity equation Q becomes
Q = (d * LT) + (d * OI) – (d * LT) * Q = d * OI = (6) (89) = 534 units Therefore, ordering at six-week intervals requires an order quantity of 534 units. Now, the optimal order quantity is determined by using EOQ equation. Q = sqrt(2dS/H) = sqrt[(2*89*32)/.08] = 266.833 (or) 267
The weekly total cost based on optimal*…show more content…*

Balancing these competing requirements leads to optimal inventory levels, which is an on-going process as the business needs shift and react to the wider environment. | | | | | | | | | | | No. 10: TIME, PLEASE What project durations should Smitty include in the proposal for these risks of not delivering the project on time: 5%, 10%, and 15% ? PATH | EXPECTED DURATION | STANDARD DEVIATION | A | 10 | 4 | B | 14 | 2 | C | 13 | 2 | PATH A Z= X – t (path) Standard deviation Z = (X – 10) / 4 = 0.05 Z = (X – 10) = 0.05 x 4 Z = (X – 10) = 0.2 Z = X = 0.2 + 10 Z = X = 10.2 → The project duration for path A is 10 weeks 2 days PATH B Z= X – t (path) Standard deviation Z = (X – 14) / 2 = 0.1 Z = (X – 14) = 0.1 x 2 Z = (X – 14) = 0.2 Z = X = 0.2 + 14 Z = X = 14.2 → The project duration for path B is 14 weeks 2 days PATH C Z= X – t (path) Standard deviation Z = (X – 13) / 2 = 0.15 Z = (X – 13) = 0.15 x 2 Z = (X – 13) = 0.3 Z = X = 0.3 + 13 Z = X = 13.2 → The project duration for path C is 13 weeks 2 days What are the pros and cons of quoting project times aggressively? Project time management is a special process used to plan, operate and monitor projects. Its aim is to efficiently achieve project goals and objectives or solve a particular problem. It is different from general management, in part, because of its focus on completing well-defined goals within

Balancing these competing requirements leads to optimal inventory levels, which is an on-going process as the business needs shift and react to the wider environment. | | | | | | | | | | | No. 10: TIME, PLEASE What project durations should Smitty include in the proposal for these risks of not delivering the project on time: 5%, 10%, and 15% ? PATH | EXPECTED DURATION | STANDARD DEVIATION | A | 10 | 4 | B | 14 | 2 | C | 13 | 2 | PATH A Z= X – t (path) Standard deviation Z = (X – 10) / 4 = 0.05 Z = (X – 10) = 0.05 x 4 Z = (X – 10) = 0.2 Z = X = 0.2 + 10 Z = X = 10.2 → The project duration for path A is 10 weeks 2 days PATH B Z= X – t (path) Standard deviation Z = (X – 14) / 2 = 0.1 Z = (X – 14) = 0.1 x 2 Z = (X – 14) = 0.2 Z = X = 0.2 + 14 Z = X = 14.2 → The project duration for path B is 14 weeks 2 days PATH C Z= X – t (path) Standard deviation Z = (X – 13) / 2 = 0.15 Z = (X – 13) = 0.15 x 2 Z = (X – 13) = 0.3 Z = X = 0.3 + 13 Z = X = 13.2 → The project duration for path C is 13 weeks 2 days What are the pros and cons of quoting project times aggressively? Project time management is a special process used to plan, operate and monitor projects. Its aim is to efficiently achieve project goals and objectives or solve a particular problem. It is different from general management, in part, because of its focus on completing well-defined goals within

Related

## Case Study: UPD Manufacturing

1316 Words | 6 PagesCase: UPD Manufacturing Given, Demand, d = 6 Ordering Interval, OI = 89 Ordering cost, S = $32 Holding Cost/Carrying Cost, H = $.08 As there is no demand variability, the formula for quantity is: Q = d (LT + OI) – A (as there is no safety stock) ------- A - ROP (Reorder point) We know, A = d * LT, so the fixed order interval order quantity equation Q becomes Q = (d * LT) + (d * OI) – (d * LT) * Q = d * OI = (6) (89) = 534 units Therefore, ordering at six-week intervals requires

## Human Resources Management

150900 Words | 604 PagesCHAPTER 1 Changing Nature of Human Resource Management After you have read this chapter, you should be able to: ● Identify four major HR challenges currently facing organizations and managers. List and define each of the seven major categories of HR activities. Identify the three different roles of HR management. Discuss the three dimensions associated with HR management as a strategic business contributor. Explain why HR professionals and operating managers must view HR management as an

### Case Study: UPD Manufacturing

1316 Words | 6 Pages### Human Resources Management

150900 Words | 604 Pages