CASE-1 (16 Marks) Bloomsday Outfitters produces T-shirts for road races. They need to acquire some new stamping machines to produce 30‚000 good T-shirts per month. Their plant operates 200 hours per month‚ but the new machines will be used for T-shirts only 60 percent of the time and the output usually includes 5 percent that are "seconds" and unusable. The stamping operation takes 1 minute per
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forecasts 1. The same underlying causal system that existed in the past will continue to exist in the future. 2. Forecasts are rarely perfect; actual results usually differ from predicted values. 3. Forecasts for groups of items tend to be more accurate than forecasts for individual items. Forecast accuracy decreases as the time period covered by the forecast-the time horizon-increases. Steps in the Forecasting Process There are five basic steps in the forecasting process: 1. Determine the
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Table of Contents 1. Executive Summary A ll organizations possess operations functions of some sort because every one of them provides product and or services to its customer. According to Slack‚ Chambers & Johnston (2010)‚ the operations function actually ranks as one of the three core functions in any company. As a central function in any organization‚ it produces the output required that the company needs to stay in business. What makes operations management so important is the critical
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MB0044 – Production & Operations Management Q.1. what do you understand by Vendor-managed Inventory (VMI)? Ans. Vendor managed inventory: The very purpose of JIT is to reduce Inventory at all places in the supply chain. Inventory is considered a waste because Inventory is created by using materials‚ machines and efforts of persons. All of these Are resources which have already been used up and that portion of it which is not Consumed and sent up the value chain causes a drag on the system
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Issues on operation management With historical development‚ there are different concepts in operation management such as total quality management‚ supply chain management and inventory management. Product: Lenovo Vs Dell i. Quality control management The company of Lenovo did experience some quality management problems during the early years of the 21st century that had some mixed results. On the other hand‚ the company lost a domestic computer contract to its rival Dell to a chinese government
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successful hotel in their service quality. These service qualities are the main important thing that causes the hotel became successful and famous among the entire hotel in the world. Not only have that‚ four season hotel also succeeded when they making decision based on a clear understanding on the way they do (Slack‚ Chambers and Johnston 2004). Moreover‚ Garvin (1987) state that to achieve a good quality‚ the manager need to have a clear strategy of quality and put the quality strategy into the manageable
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Deadline: October 26‚ Middle East Technical University – Northern Cyprus Campus BUS 361 Operations Management Homework 1 - Solutions 1. Fruit Computer Company manufactures memory chips in lots of ten chips. From past experience‚ Fruit knows that 80% of all lots contain 10% (1 out of 10) defective chips‚ 20% of all lots contain 50% (5 out of 10) defective chips. If a good batch (that is‚ 10% defective) of chips is sent on to the next stage of production‚ processing costs of $1000 are
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Strategic Management Models ………………………………………………….23 List of Reference ……………………………………………………………………………….25 Acknowledgement First and foremost‚ I would like to acknowledge and extend my heartfelt gratitude to our supervisor Mr. G.V. Nathan who have made the fully completion of this assignment of applied strategic
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NOTE 1: A candidate with a MBA in Operation Management would be able to look after a factory or other operations of the factory in a better manner as compared to others due to their competency and knowledge regarding handling the operations of an organization.Depending on the type of organization‚ one might be responsible for a few activities / regions in the initial stages and consequently growing up to handling broader areas. This career involves handling a few plants/ vendors initially
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Management Accounting‚ Cdn. 6e (Horngren/Sundem/Stratton/Beaulieu) Chapter 1 Management Accounting and Management Decisions 1) Both internal managers and external parties use accounting information. Answer: TRUE Diff: 2 Type: TF Page Ref: 16 Objective: 8 2) Internal accounting reports must follow generally accepted accounting principles and account for assets at historical cost. Answer: FALSE Diff: 2 Type: TF Page Ref: 16 Objective: 8 3) Organizations that
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