Problem 1. Sampling 4 pieces of precision-cut wire (to be used in computer assembly) every hour for the past 24 hours has produced the following results: |Hour |Average (inches)|R (inches) |Hour |Average[pic] |R (inches) | | | | | |(inches) | | |1 |3.25 |0.71 |13 |3.11 |0.85 | |2 |3.10
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years. • The company has also managed to break into a number of special niches. • It employs‚ at present‚ more than 1‚100 employees working in various factory sites‚ warehouses and sales offices around the country‚ from which it supplies over 3‚500 product lines. Goals of HPM: To effectively compete in the most challenging market that is continually evolving. To improve its product development process in an increasingly fast-paced‚ globalized market. Strategy: Use innovation
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and the number of components can be increased as follows: Resource Additional amount above existing prices to increase supply Assembly hours £12 extra per hour for hours above 200 Component £1 extra per component for components above 1‚200 Decision Variables X1 = Quantity of product Standard to produce‚ X2 = Quantity of product De-Luxe to produce. Objective function Maximise 100X1 + 300X2 (contribution) Constraints Subject to Machining Hour X1 + X2 ≤ 40 hours Assembling
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ABSTRACT This paper defines the four functions of management and the operations management theory. It then provides an analysis of how the functions of management the operations management. THE FOUR FUNCTIONS OF MANAGEMENT Planning: It is an act of formulating a program for a definitive course of action. The management defines a goal and puts forward its strategies to accomplish the objectives defined. Organizing: To divide the work force into specific groups and giving each group a specific
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number of SUVs parked = 50cars × (1 – 60%) = 20cars * Utilization = p / ( a × m) = 72.0 / (2.4 × 50) = 60% b. 1) Analysis of process : a. Calculate Utilization b. Calculate Revenue 2) The daily revenue of this company increase from 2‚400 to 2‚640. (Revenue increases about 240) | AS-IS | TO-BE | Variation | a | 2.4 | 2.0 | -0.4 | P | 72.0 | 96.0 | 24.0 | Utilization | 60.0% | 96.0% | 36.0% | Price | 80 | 55 | -25 | Revenue | 2‚400 | 2‚640 | 240 | c. Waiting
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1. The patients’ dissatisfaction with the clinic is justified. In the first case patient has to wait from about 54 minutes to 1h 15m. In the second case patients has to wait from 1h 9m to 1h 30m. 2. The patients’ key requirements for the clinic are quality of the service and less time spent for the procedures. 3. After the results of the survey‚ it was determined that medical clinic was located near the bottom of the rankings this means that patients have dissatisfactions with the clinic. Primarily
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Operating Decision ECO 550 Briefly describe the details of the fictitious business that you created for this assignment. Allentown Manufacturing Company is a family owned business that manufactures cardboard boxes. Currently‚ the company has a manpower rate of 100 workers that work 20 out of a month. The company has been able to last through some of the toughest economic times‚ but recently the AMC’s fixed cost is “high enough”‚ and their total costs are exceeding their total revenue.
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Operations Management and Ethics Operations management may be defined as the design‚ operation‚ and improvement of the production system that creates the firm ’s primary products and services‚ or‚ as Chase‚ Jacobs & Aquilano (2006) state "operations management is about getting the day-to-day work done quickly‚ efficiently‚ without errors‚ and at low cost". Operations management is critically important in any organization or business nowadays. Operations management is one of the three major functions
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Chapter 1: Introduction to Operations Management Overview This chapter provides a definition of operations management. The role and importance of operations in an organization are described‚ along with operations decisions that are made. The differences between manufacturing and services are described. The history and current trends of operations management are discussed‚ including the impact of information systems. Finally‚ the interaction between operations and other business functions
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1. ------------------------------------------------- Consider a firm with a daily demand of 100 units‚ a production rate per day of 500 units‚ a setup cost of $200‚ and an annual holding cost per unit of $10. Suppose that the firm operates 300 days per year. How many units of inventory must their storage area be able to hold? ------------------------------------------------- Answer | | close to 975 | | | close to 980 | | | close to 1095 | | | close to 1224 | | | close to 1225 | 5 points
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