On average, 50 customers arrive per hour at a small post office. Interarrival times are exponentially distributed. Each window can serve an average of 25 customers per hour. Service times are exponentially distributed. It costs $25 per hour to open a window, and the post office values the time a customer spends waiting in line at $15 per customer-hour. To minimize expected hourly costs, how many postal windows should be opened?

Q: Student tuition at Boehring University is $150 per semester credit hour. The state supplements schoo...

A: Student tuition is $150 per semester credit hour. Supplement school revenue is $100 per semester cre...

Q: Would a project manager ever consider crashing a noncritical activity in a project network? Explain ...

A: Project refers to tasks or activities that are done in order to achieve goals and objectives or to c...

Q: Why is it important to capture the transaction-level data associated with all purchasing processes?

A:  Transactional data is associated with an organization’s transaction data that is stored when a sale...

Q: The pulp and paper factory is one of the longest industrial sectors in the world. Thus, internationa...

A: Given 500 sheets of type B having thickness 2.027558055 inch Now round off this value the approximat...

Q: Why is it important to discuss promptly the results of a supplier visit or survey with the supplier?...

A: Suppliers constitute an integral part of any supply chain system. Supplies like raw materials and ot...

Q: Why is process flexibility desirable? What two conditions are required?

A: Flexibility of processes is a term used in process management that refers to how an operation respon...

Q: Below are four categories of risk and ways that a company is currently handling the risks. Which ris...

A: a) Risk Transference: This includes the treatment of danger to an outsider. For this situation the o...

Q: Why do organizations commit the resources and time to evaluate suppliers before making a supplier se...

A: In the procurement process, supplier selection is rapidly becoming the primary value factor. Your pr...

Q: Why are supplier managed inventory and integrated supplier programs becoming more popular with buyer...

A: Under supplier managed inventory and integrated supplier programs, the business tries to strengthen ...

Q: Why have many manufacturing facilities relocated from Western Europe to Asia? Discuss the motives an...

A: The significant explanation behind relocation is modest work accessibility, more talented works on c...

Q: Given the following parents and components, construct a product tree. Figures inparentheses show the...

A: A product tree is a tool or pictorial representation of the products developed one after the other. ...

Q: You are hosting an important event on campus; the RSVP’s are in and there will be 100 guests (not fe...

A: You should post your arrangement and your thinking behind the choices and why your arrangement will ...

Q: Prepare a house of quality for a mousetrap.

A: House of Quality alludes to a notable cycle for item improvement enlivened by client wants for the i...

Q: CEO John Spychalski is concerned about a problem that has existed at CBN railroad for almost 20 year...

A: Since you have asked multiple questions, we will answer the first question for you. If you want a sp...

Q: Describe the processes of offsetting and exploding.

A: MRP is a strategy tool primarily oriented for assembly operations. The goal is to allow each unit of...

Q: Assume that parts arrive at a machining center at a rateof 60 parts per hour. The machining center i...

A: This question is part of the waiting model and queuing theory. Here customer arrival rate and servic...

Q: Differentiate between a hazard, a risk, an accident and a near miss.Name at least five hazards that ...

A: What is a hazard?  The meaning of the word hazard can be confounding. Regularly dictionaries don't g...

Q: What is a bill of material? What are two important points about bills of material?

A: A detailed list comprising all the parts, items, materials etc. is known as a Bill of Materials (BOM...

Q: What do you think is the importance of discussing defective contracts in an obligation?

A: Contracts are defined as the agreement between two or more parties on a certain point and which is l...

Q: In a sandwich production factory, making each ham and cheese sandwich consists of a number of activi...

A: Time Taken to complete the activity = 7 minutes each  No. of Workers = 5  Working Hours = 12 hours a...

Q: (a) Develop an opportunity loss table. (b) What is the minimax regret decision?

A: Opportunity loss is the difference between the maximum payoff and the actual payoff received.

Q: Toyota is a car manufacturer that has issued several recalls over the years. One major recall center...

A: 1. The main point is about Toyota is recalling faulty airbags. Toyota has started a cross country Sa...

Q: Explain risk response strategies for threats and opportunities. Make an example for each

A: A risk is a spontaneous occasion that can influence your venture's destinations on the off chance th...

Q: Indicate how dissimilarities in the sociocultural and legal- political environments throughout the w...

A: Indicate how dissimilarities in the sociocultural and legal-political environments throughout the wo...

Q: The Office Supply Shop estimates that the average demand for a popular ball-point pen is 12,000 pens...

A: Inventory cost consists of costs to order inventory or to hold it, and to administer the related wor...

Q: Material delays have routinely limited production of household sinks to 400 units per day. If the pl...

A: Effective capacity is the most extreme measure of work that an association is fit for finishing in a...

Q: How can packaged tours revolutionized the way people travel in the modern day?

A:  A packaged tour is a holiday package organized by a travel agent that includes all the arrangements...

Q: Energy, food, and water are frequently cited resources that are critical for economic development. E...

A: Energy, food and water are most important for all human begins and for economic development. Demand ...

Q: What area of the marketing mix would involve decisions about selling more on e-commerce? Select one:...

A: Option C: Product of marketing mix would involve decisions about selling more on e-commerce.

Q: What are the two major trends influencing office layout?

A: Office layout is nothing but positioning or organizing all the office needs and resources in the spa...

Q: How can the government encourage the ethical behavior of organizations?

A: Managers are the person who shows the path to their subordinates on which they walk to achieve organ...

Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.