Exercise Lecture 1 – Chapter 2 Inventory Management 1. A drugstore sells bandages for $5 per box. The monthly demand for this product has a normal distribution with a mean of 100 and a standard deviation of 30. The store adopts a continuous review policy in which the order quantity equals the average demand for one month and the reorder point equals 43 boxes. The lead time for an order is one week‚ where each month contains exactly four weeks. a. What is the cycle service level for this product
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of best practices in supply chain strategies‚ with a focus on demand forecasting and collaborating information. Supply chain management is an area of importance. This paper is based on a survey of a large number of publications on supply chain management (books‚ conference papers and journal articles) for context and an industry expert interview. This literature review analyses the case study of a Taiwanese semi-conductor company‚ Tekcon to show its best practice supply chain strategy. The key objective
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Case Study #1 - Sunspot‚ Inc 1. What are the most likely benefits of forming strategic supply alliances with Sunspot’s key suppliers? A strategic alliance between Sunspot and its key suppliers will result in a relationship based on trust. It’s key for both parties to develop and manage this “institutional” trust or the alliance will fail. Trust will facilitate communication which will lead to less errors and higher quality‚ faster development times‚ and lower costs. Synergies created by
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The Importance of Supply Chain Management Supply chain management (SCM) is very important and effective to all companies. David Simchi-Levi‚ Philip Kaminsky‚ and Edith Simchi-Levi defines supply chain management as “a set of approaches utilized to efficiently integrate suppliers‚ manufacturers‚ warehouses‚ and stores‚ so that merchandise is produced and distributed at the right quantities‚ to the right locations‚ and at the right time‚ in order to minimize systemwide costs while satisfying service
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Beautician Nowadays everyone wants to look attractive‚ polished and presentable. For this purpose ‘Cut & Bite’ hire services of beauty salons and beautician. These beauticians are also known as cosmetologist. Aim of a beautician is to groom the personality of a person by providing various beauty treatments and through the art of a professional makeup. Whether one can looking for hair styling‚ facial services‚ manicure‚ pedicure‚ massage‚ hair removals or professional casual or party makeup services
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Supply Chain 1 I Care Healthcare Supply Chain Management By Jeffrey S. Moser Operations Management MGT 554 Professor Stephen Wernick October 12‚ 2004 Supply Chain 2 Supply Chain Management plays a vital role in our hospitals today. With the growing cost of healthcare and new technologies‚ it is vital for hospitals to run as efficiently as possible and without jeopardizing care. To the materials manager and to the financial minds of a hospital the area of supply chain is a tedius task at best
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Table of Contents I. INTRODUCTION 2 II. STATEMENT OF PROBLEM 2 III. OBJECTIVES 3 IV. SCENARIOS 3 Question 1 5 Question 2 7 Question 3 10 Question 4 12 Question 5 13 Question 6 14 Question 7 16 V. CONCLUSION 18 Bibliography 19 INTRODUCTION The case is about manufacturing company‚ Hospital Supply‚ Inc.‚ that produced hydraulic hoists for the local market. The hydraulic hoist is useful to the hospital for moving bedridden patients
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Winter Project Dec’ 2012 A Literature review on Risk in Supply Chain [pic] Under the Guidance of: Submitted by: Prof. P.K. Jha Sandeep Singh Dept. of Industrial Engineering & Management M.Tech 1st year IIT Kharagpur 12IM60R03 Risk in supply chain 1. What is Risk? Risk can be broadly defined as a chance of danger‚ damage‚ loss‚ injury or any other undesired consequences. A more scientific definition of risk was provided
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SUPPLY CHAIN OF IRON ORE With the increasing demand in iron ore due to rapid industrialisation and increase in demand of steel‚ the need for a proper distribution network or a supply chain has been realised. The following section takes into account the supply chain system of iron ore with some examples quoted from the Australia-China supply chain‚ which is one of the most important supply chains due to Australia being the largest exporter and China being the largest importer of iron ore. Logistic
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drinking or driving under influence. The state liquor distribution system is considerably less efficient than private industry. Because the redesigning of the current system will create severely disadvantage themselves relative to larger‚ high-volume chains and retailers. Summary of Facts In April 1933‚ Michigan Liquor Control Commission becomes the first state to authorize of the federal prohibition. The bill for beer and wine was passed and allowed distribution from brewers and wineries to private
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