PV = RP = AC = EV = CV = SV = CPI = SPI = EAC = ETC =
Q: Articulate some key barriers to successful quality improvement efforts.
A: Quality improvement is a continuous and never-ending process but continuous and successful quality i...
Q: A manufacturing shop is designed to operate most eficiently at an output of 550 units per day. In th...
A: Hence, the utilization rate is 89.09%.
Q: At what stage is project needs assessment or appraisal needed? Explain
A: Project assessment is the process that analyze the scope, scale, impacts and objective of the projec...
Q: The following costs have been recorded:Incoming materials inspection $20,000Training of personnel 40...
A: Cost of Quality (COQ) is a methodology adopted by organizations to identify the extent to which thei...
Q: What is the purpose of a planning and control systemrelated to scheduling?
A: To keep a business structured and centered on long-term objectives while seeking immediate opportuni...
Q: In solving the given problem ,you may refer to the following payoff table: New brid...
A: Hello thank you for the question. As per guidelines, we would provide only one answer at a time. Ple...
Q: A certain custom engraving shop has traditionally had orders for between 1 and 50 units of whatever ...
A: The custom etching shop is getting a request for 12,000*4 = 48,000 units spread equitably over a tim...
Q: critically evaluate how relevant business information systems can improve the efficiency of a compan...
A: Business Information Systems provides information that organizations use to manage themselves effici...
Q: State the types of data that would be carried in the bill-of-materials file and the inventory record...
A: Bill of material is created for getting things into production. Bill-of-material and inventory recor...
Q: Discuss the meaning of MRP terms such as planned order release and scheduled order receipt.
A: Material Requirements Planning (MRP) is a method of computer-based inventory management intended to ...
Q: Is supporting a group decision you don’t completely agree with always a case ofgroupthink? Explain y...
A: Group thinking is a process of psychological phenomena in which a group of people exchange their tho...
Q: In a service setting, what general operations–related variable is not available compared to a produc...
A: Services do not possess inventories: It cannot be stored for future use like production, whenever th...
Q: Patients arrive at your emergency room at a rate of 2 per hour. The average service time per patient...
A: Here, from the given information, arrival rate and service rate can be identified. The mean arrival ...
Q: How do service layouts differ from manufacturing layouts? Give an example of a well designed service...
A: Service facility Design and Layout required by a client. These service layouts follow customary layo...
Q: Consider a process consisting of three resources. Assume there exists unlimited demandfor the produc...
A: Note- We’ll answer the first three subparts of the question since the exact one wasn’t specified. Pl...
Q: In normal circumstances the airline industry creates value, a portion of which the airlines capture ...
A: When some percentage of value provided in each business transaction is retained, it is known as 'val...
Q: Why is continuous learning through creativity important for innovation?
A: Continuous learning is the process of learning new skills and knowledge on an ongoing basis. Staying...
Q: How important is the loss of manufacturing jobs to the nation?
A: Manufacturing jobs play an important role in the economy as they generate employment on a large scal...
Q: What are the importance of awards and quality certifications in business organizations?
A: Awards can propel information about administration and authoritative learning hypothesis, standardiz...
Q: Company X produces a product, GlueX3, that Company X sales for $5. An opportunity presents itself t...
A: The cost of production is expected to be the same or nearly the same for the two goods, and Epoxy10 ...
Q: What is the term used to refer to inventory while in distribution—that is, being moved within the su...
A: The product produced by any organization, when held in stock for distribution, forms inventory. The ...
Q: An SKU costing $10 is ordered in quantities of 500 units, annual demand is 5200units, carrying costs...
A:
Q: The Shades Sunglass Company assembles sunglasses from frames, which it makes,and lenses, which it pu...
A: Complete the projected available balance and the master production schedule in the excel:- We put gi...
Q: Could a service firm use a production-line approach or self-service design and still keep a high cus...
A: The self-service design refers to the design approach that allows the customers to find the answers ...
Q: Challenges face by people with less job satisfaction
A: Job satisfaction define a positive emotion, behaviour or experience while doing the job. It has the ...
Q: Which work measurement technique is most appropriate for tasks that are infrequent or have a long cy...
A: Work measurement is a series of techniques used to determine the amount of time required to carry a ...
Q: The Grinell Machine Shop makes a line of metal tables.Some of these tables are carried in finished g...
A: Demand or Sales = 300 Odering cost (O) = 1200 Holding or carrying cost (H) = 20% i.e 0.2 & Total...
Your team has a plan to build 100 gadgets in 10 weeks.
The plan is to make 10 gadgets per week (10 gadgets per week x 10 weeks = 100 gadgets).
The plan states that:
During the first 4 weeks, it should cost $1,000 each week to make 10 gadgets per week.
The next 6 weeks it should cost $500 each week to make 10 gadgets per week because of the efficiency gains.
At the end of the 8th week (i.e. finished the 8th week and getting ready to start the 9th week), the team has made 60 gadgets and has spent $7500.
At the end of week 8, what are PV (Planned Value), RP (Rate of Performance), AC (Actual Cost), EV (Earned Value), CV (Cost Variance), SV (
(Please Show work for each)
Provide your answer for Question in this area and expand it out as necessary.
PV =
RP =
AC =
EV =
CV =
SV =
CPI =
SPI =
EAC =
ETC =
Step by step
Solved in 9 steps
- The eTech Company is a fairly recent entry in the electronic device area. The company competes with Apple. Samsung, and other well-known companies in the manufacturing and sales of personal handheld devices. Although eTech recognizes that it is a niche player and will likely remain so in the foreseeable future, it is trying to increase its current small market share in this huge competitive market. Jim Simons, VP of Production, and Catherine Dolans, VP of Marketing, have been discussing the possible addition of a new product to the companys current (rather limited) product line. The tentative name for this new product is ePlayerX. Jim and Catherine agree that the ePlayerX, which will feature a sleeker design and more memory, is necessary to compete successfully with the big boys, but they are also worried that the ePlayerX could cannibalize sales of their existing productsand that it could even detract from their bottom line. They must eventually decide how much to spend to develop and manufacture the ePlayerX and how aggressively to market it. Depending on these decisions, they must forecast demand for the ePlayerX, as well as sales for their existing products. They also realize that Apple. Samsung, and the other big players are not standing still. These competitors could introduce their own new products, which could have very negative effects on demand for the ePlayerX. The expected timeline for the ePlayerX is that development will take no more than a year to complete and that the product will be introduced in the market a year from now. Jim and Catherine are aware that there are lots of decisions to make and lots of uncertainties involved, but they need to start somewhere. To this end. Jim and Catherine have decided to base their decisions on a planning horizon of four years, including the development year. They realize that the personal handheld device market is very fluid, with updates to existing products occurring almost continuously. However, they believe they can include such considerations into their cost, revenue, and demand estimates, and that a four-year planning horizon makes sense. In addition, they have identified the following problem parameters. (In this first pass, all distinctions are binary: low-end or high-end, small-effect or large-effect, and so on.) In the absence of cannibalization, the sales of existing eTech products are expected to produce year I net revenues of 10 million, and the forecast of the annual increase in net revenues is 2%. The ePIayerX will be developed as either a low-end or a high-end product, with corresponding fixed development costs (1.5 million or 2.5 million), variable manufacturing costs ( 100 or 200). and selling prices (150 or 300). The fixed development cost is incurred now, at the beginning of year I, and the variable cost and selling price are assumed to remain constant throughout the planning horizon. The new product will be marketed either mildly aggressively or very aggressively, with corresponding costs. The costs of a mildly aggressive marketing campaign are 1.5 million in year 1 and 0.5 million annually in years 2 to 4. For a very aggressive campaign, these costs increase to 3.5 million and 1.5 million, respectively. (These marketing costs are not part of the variable cost mentioned in the previous bullet; they are separate.) Depending on whether the ePlayerX is a low-end or high-end produce the level of the ePlayerXs cannibalization rate of existing eTech products will be either low (10%) or high (20%). Each cannibalization rate affects only sales of existing products in years 2 to 4, not year I sales. For example, if the cannibalization rate is 10%, then sales of existing products in each of years 2 to 4 will be 10% below their projected values without cannibalization. A base case forecast of demand for the ePlayerX is that in its first year on the market, year 2, demand will be for 100,000 units, and then demand will increase by 5% annually in years 3 and 4. This base forecast is based on a low-end version of the ePlayerX and mildly aggressive marketing. It will be adjusted for a high-end will product, aggressive marketing, and competitor behavior. The adjustments with no competing product appear in Table 2.3. The adjustments with a competing product appear in Table 2.4. Each adjustment is to demand for the ePlayerX in each of years 2 to 4. For example, if the adjustment is 10%, then demand in each of years 2 to 4 will be 10% lower than it would have been in the base case. Demand and units sold are the samethat is, eTech will produce exactly what its customers demand so that no inventory or backorders will occur. Table 2.3 Demand Adjustments When No Competing Product Is Introduced Table 2.4 Demand Adjustments When a Competing Product Is Introduced Because Jim and Catherine are approaching the day when they will be sharing their plans with other company executives, they have asked you to prepare an Excel spreadsheet model that will answer the many what-if questions they expect to be asked. Specifically, they have asked you to do the following: You should enter all of the given data in an inputs section with clear labeling and appropriate number formatting. If you believe that any explanations are required, you can enter them in text boxes or cell comments. In this section and in the rest of the model, all monetary values (other than the variable cost and the selling price) should be expressed in millions of dollars, and all demands for the ePlayerX should be expressed in thousands of units. You should have a scenario section that contains a 0/1 variable for each of the binary options discussed here. For example, one of these should be 0 if the low-end product is chosen and it should be 1 if the high-end product is chosen. You should have a parameters section that contains the values of the various parameters listed in the case, depending on the values of the 0/1 variables in the previous bullet For example, the fixed development cost will be 1.5 million or 2.5 million depending on whether the 0/1 variable in the previous bullet is 0 or 1, and this can be calculated with a simple IF formula. You can decide how to implement the IF logic for the various parameters. You should have a cash flows section that calculates the annual cash flows for the four-year period. These cash flows include the net revenues from existing products, the marketing costs for ePlayerX, and the net revenues for sales of ePlayerX (To calculate these latter values, it will help to have a row for annual units sold of ePlayerX.) The cash flows should also include depreciation on the fixed development cost, calculated on a straight-line four-year basis (that is. 25% of the cost in each of the four years). Then, these annual revenues/costs should be summed for each year to get net cash flow before taxes, taxes should be calculated using a 32% tax rate, and taxes should be subtracted and depreciation should be added back in to get net cash flows after taxes. (The point is that depreciation is first subtracted, because it is not taxed, but then it is added back in after taxes have been calculated.) You should calculate the company's NPV for the four-year horizon using a discount rate of 10%. You can assume that the fixed development cost is incurred now. so that it is not discounted, and that all other costs and revenues are incurred at the ends of the respective years. You should accompany all of this with a line chart with three series: annual net revenues from existing products; annual marketing costs for ePlayerX; and annual net revenues from sales of ePlayerX. Once all of this is completed. Jim and Catherine will have a powerful tool for presentation purposes. By adjusting the 0/1 scenario variables, their audience will be able to see immediately, both numerically and graphically, the financial consequences of various scenarios.A machine shop has an order for 12 000 pcs of a machine part that requires anti-corrosive properties. Chromium steel alloy that cost Php. 95.00/kg or Nickel steel alloy that cost Php. 65.00/kg may be used. The weight per piece, production rate per day and tool bit replacement cost for Cr-alloy are: 0.25 kg, 75 pcs and Php. 1 600.00 for every 400 pcs produced. The respective date for Ni-alloy are 0.3 kg, 50 pcs and Php. 1 800.00 for every 300 pcs produced. If the charge for the labor and other operating cost is Php. 450.00/day, with all other expenses being the same, determine which material should be used.A furniture company is producing two types of furnitureand wants to determine the profit maximizing output combination. Product A requires 8 board feet of wood and 2 lbs of wicker. Product B requires 6 board feet of wood and 6 lbs of wicker. There are 2000 board feet of wood available for product and 1000 lbs of wicker. Product A earns a profit margin of $30 a unit and Product B earns a profit margin of $40 a unit. Show all of your work and provide evidence that you can set up and solve a linear programming (LP) problem. Clearly identify your answer(s) and provide a brief discussion of the results. You may use the POM (preferred and easier) or another software to complete this problem. Submit your results from the software in an Excel file. Each of questions below can be answered by running the problem in POM or the MAC version of QM-POM and using the ranging window in POM or the sensitivity output in the MAC version. Formulate and solve the problem as a linear programming…
- A furniture company is producing two types of furnitureand wants to determine the profit maximizing output combination. Product A requires 8 board feet of wood and 2 lbs of wicker. Product B requires 6 board feet of wood and 6 lbs of wicker. There are 2000 board feet of wood available for product and 1000 lbs of wicker. Product A earns a profit margin of $30 a unit and Product B earns a profit margin of $40 a unit. Show all of your work and provide evidence that you can set up and solve a linear programming (LP) problem. Clearly identify your answer(s) and provide a brief discussion of the results. You may use the POM (preferred and easier) or another software to complete this problem. Submit your results from the software in an Excel file. Each of questions below can be answered by running the problem in POM or the MAC version of QM-POM and using the ranging window in POM or the sensitivity output in the MAC version. a. Formulate and solve the problem as a linear programming…Same situation as in the previous two problems this time the magnet s mass is 5.68 kg and the magnetic force pulling it to the right is 170.9 N. The length of the cord is 1.70 m, and the ceiling is 2.98 m above the floor. Suppose that you cut the cord and the magnet falls to the floor while still being pulled to the right by the force of 170.9 N. How long will it take the magnet to hit the floor? 0.848 s 0.403 s 0.707 s 0.495 sFormulate the situation as a system of inequalities. (Let x represent the number of dinghies the company can manufacture and y represent the number of rowboats.) A boat company manufactures aluminum dinghies and rowboats. The hours of metal work and painting needed for each are shown in the table, together with the hours of skilled labor available for each task. How many of each kind of boat can the company manufacture? (hours) Dinghy Rowboat Labor Available Metal Work 2 3 108 Painting 2 2 90 (labor for metal work) (labor for painting) x ≥ 0, y ≥ 0
- For a table manufacturing company, selling price for a table is $183.00 per Unit, Variable cost is $25.00 per Unit, rent is $3,380.00 per month and insurance is $296.00 per month. Company wants to expand its business and improve the table quality, it wants to increase the selling price for a table to $254.00 per Unit, Variable cost to $43.00 per Unit, bigger area will have rent $5,235.00 per month and insurance is $362.00 per month At what point will the company be indifferent between the current mode of operation and the new option?A food company produces two types of emergency food,type t and type c,the food company received a contract. Let the variables t and c represent the amount of type t and type c. Goal 1:type t emergency food takes 10 hours to produce and type c takes 5 hours. The total number of work hoursavailable per period is approximately 3200 hours. Goal 2: one ton of type t uses 1 ton of flour and one ton of type c uses 0.5 ton of flour; 300 tons of flour are available for a period and no more can be bought. Goal 3: the company is committed to providing the aid agency with approximately 200 tons of type t emergency food in a period Goal 4: the demand for type c emergency food in the market is approximately 250 tons. question:(a) define deviation variable (b)objective function: to minimize sum of percentage deviation (c) state all constraints using deviation variablesA company is considering a new product launch. There is a 0.6 chance that demand for the product will be strong and a 0.4 chance that demand will be weak. Two strategies for the launch are possible: 1 has high promotion costs and a net cash outflow of K120 000 if demand proves to be strong, and if demand proves weak a net cash outflow of (K30 000) will result. Strategy 2 has low promotion costs and if demand is strong will generate a cash inflow of only K80 000 but with weak demand a net cash inflow of K20 000. Draw a decision tree and advise which course of action generates the greatest expected profit. What is the maximum amount that should be paid for market research to determine with certainty whether demand will be strong or weak?
- The Big Bang Novelty Company (BBNC) makes 3 types of noise?makers: Toot, Wheet, and Honk. A Toot can be made in 30 minutes and has a feather attached to it. A Wheet requires 20 minutes, has two feathers, and is sprinkled with 0.5 ounces of sequin powder. The Honk requires 30 minutes, three feathers, and 1 ounce of sequin powder. The unit profits are $0.45 per Toot, $0.55 per Wheet, and $0.70 per Honk. The following resources are available: 80 hours of labor, 360 feathers, and 90 ounces of sequin powder. BBNC would like to maximize the overall profit from the noise-makers. (a) Write the linear programming model. Express labor time in minutes in LP formulationb) Solve using Excel Solver. How much of the resources (labor, feathers, and sequin powder) will be used by the optimal solution? If the availability of labor increases by 10 hours, what is the optimal total profit? If the unit profit of Wheet is actually only $0.30 instead of $0.55, will this change the solution? How many of each…Is my solution correct and did I fully answer the questions? (see attachment for my solution) Question: There are three factories on Momiss River. Each emits two types of pollutants, labeled P1 and P2, into the river. If the waste from each factory is processed, the pollution in the river can be reduced. It costs $1,500 to process a ton of factory 1 waste, and each ton processed reduces the amount of P1 by 0.10 ton and the amount of P2 by 0.45 ton. It costs $2,500 to process a ton of factory 2 waste, and each ton processed reduces the amount of P1 by 0.20 ton and the amount of P2 by 0.25 ton. It costs $3,000 to process a ton of factory 3 waste, and each ton processed reduces the amount of P1 by 0.40 ton and the amount of P2 by 0.50 ton. The state wants to reduce the amount of P1 in the river by at least 125 tons and the amount of P2 by at least 175 tons. a. Use Solver to determine how to minimize the cost of reducing pollution by the desired amounts. Are the LP assumptions…The Bargain Hut has 2400 cubic feet of storage space for refrigerators. Large refrigerators come in 60-cubic-foot packing crates and small refrigerators come in 40-cubic-foot crates. Large refrigeratorscan be sold for a $250 profit and the smaller ones can be sold for $150 profit. How many of each typeof refrigerator should be sold to maximize profit and what is the maximum profit if:a) If the manager wants to sell at least 50 refrigerators must be sold each month, how many large refrigerators and how many smaller refrigerators should he/she order each month to maximize profit?b) At least 40 refrigerators must be sold each month.