MGMT 306 PRODUCTION AND OPERATIONS MANAGEMENT HOMEWORK 1 (Please submit the Scantron form) I. TRUE/FALSE (A for True; B for False) 1. All organizations‚ including service firms such as banks and hospitals‚ have a production function. True (What is operations management? moderate) 2. Operations management is the set of activities that create value in the form of goods and services by transforming inputs into outputs. True (What is operations management? easy) 3. The operations manager performs the
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Technology is the Solution to Overpopulation About ten years ago while in a science museum‚ I saw a counter that estimated what the world population was at that given moment. Innocuous at first glance‚ since a number in excess of five billion is difficult to comprehend‚ what became alarming after watching the counter for a minute was the continual increase in the population. Thinking about the circumstances related to the population rise logically made the problem seem apparent. The earth is
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11 Service Department and Joint Cost Allocation Solutions to Review Questions 1. Companies allocate costs to estimate or assess the costs of their activities (products‚ processes‚ etc.). It is an estimate and subject to the problem that cost allocation contains an arbitrary element. Not allocating costs‚ however‚ is also an estimate—an estimate of zero. This may be appropriate for some decisions‚ but not for others. Some of the disadvantages (costs) include: (1) Additional
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Case Analysis: Precise Software Solution ! Problem: When and how to introduce the new product‚ Insight‚ to the market? ! Issues: • Should Precise Software Solution introduce the new product at the OpenWorld 2000? Is the new product ready for the OpenWorld 2000? • What’s the impact of delaying the introduction of the new product? • What the selling strategy will be? Should this product be sold through the same sales force as other successful products? • How to price the new product? ! Industry/MKT
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It was one of the most detrimental time periods in American history and certain aspects of it still affect us today! This time period known as the Great Depression embodied the peak of unemployment‚ poverty‚ and the low point of our United States banking system. One of the solutions that arose from the depression was the New Deal‚ proposed under Franklin D. Roosevelt’s presidency. The New Deal introduced three main solutions for the great depression. The first solution‚ dealt with unemployment
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a manufacturer of specialized products based on Indian herbal extracts relying on the principal of ayurveda. Normally Indian companies export raw herbs but SLL emphasis on value addition through extraction. The export price of extracted products is more than double the price of raw herbs. The products of SLL has been used by the health conscious people round the world since long for cholesterol control‚ fat reduction and weight management Sami Labs Ltd (SLL) has three dozens of products as well as
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E-Commerce: Payment Systems and Security The list of payment solutions for e-commerce seems to be endless. Many banks and ISPs have adapted their own e-commerce payment systems where compatibility has not been considered. However‚ it seems that everything is currently pointing towards SET (Secure Electronic Transaction) as becoming the standard to follow. The first payment methods for services that took place over the internet were conventional. Users of services would transfer periodically the
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Solution-Focused Brief Therapy Solution-focused brief therapy uses several techniques and procedures in helping clients find solutions and create a more satisfying life. The therapeutic relationship must be a collaborative one. The therapist must believe that the clients are the experts in their own lives. If the therapeutic process is not a joint-venture‚ the clients will not find positive solutions to their problem. The Miracle Question‚ Pretherapy Change and Scaling Questions are just three
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This assignment must be submitted no later than November 22nd‚ 2011. 1. What is a true solution? Explain why the solute does not settle out of a solution. Is it possible to have one solid dissolved in another? Explain. In metals it would be called an alloy. 2. An aqueous solution of KCl is colorless‚ KMnO4 is purple‚ and K2Cr2O7 is orange. What color would you expect of an aqueous solution of Na2Cr2O7? Explain. Orange. 3. Explain why hexane will dissolve benzene but will not dissolve
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Homework 2 Solution 1. Consider the diagram of the electronic system‚ which shows the probabilities of the system components operating properly. The entire system operates if assembly III and at least one of the components in each of assemblies I and II operates. Assume that the components of each assembly operate independently and that the assemblies operate independently. What is the probability that the entire system operates? 0.9 0.9 0.8 0.8 0.7 I II III 0.95 Solution: P = [1-(1-0.9)*(1-0
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