ERP‚ MRP‚ Make-to-Order‚ and Make-to-Stock Adriana Castillo New Mexico State University BCIS 502 Steven T. Leask‚ PhD March‚ 13‚ 2013 Enterprise Resource Planning includes a function called Material Requirement Planning. This function schedules the needed components for production. These schedules are related the production planning process‚ which could be Make-to-Order or Make-to-Stock. Enterprise Resource Planning is a software used in business to organize it‚ keep communication between
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bicycle parts‚ and the world’s largest motorcycle manufacturer‚ marked Honda’s entrance into the Indian market for motorized two-wheeled transportation. While the country was already crowded with competitors such as Suzuki‚ Yamaha‚ LML and Kinetic‚ Honda’s executives and Hero’s founder and CEO‚ Brijmohan Lall Munjal‚ saw significant potential in the Indian two wheeled market. Why was the market attractive? At first glance‚ the Indian market was attractive because of its sheer size and significant
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LEAN OPERATIONS & JIT Lean Operations – moving towards the elimination of all waste in order to develop an operation that is faster more dependable‚ produces higher quality products and services and operates at a low cost. In general‚ Lean can be viewed as a philosophy of operations management‚ i.e. it gives a clear view which can be used to uide the way operations are managed in many different contexts. Several techniques are used to support this philosophy. (JIT techniques) The Lean approach
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chariot‚ others by horse‚while the donkey was the principal mode of transportationof the common people. The Persians‚ who defeated the Assyrians‚ continuedimprovements in the travel in frastructure. New kinds of wagons were developed including a four-wheeled carriagefor the wealthy. Greeks The Greeks continued in the tradition of the great traders. Because water was the most important means of moving commercial goods‚ Greek cities grew up along the coast‚ thus ensuring that travel was primarily by sea
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demonstrated integrity‚ moral character‚ and professional competence over a period of 16 years. Throughout his career‚ Staff Sergeant Yang made extensive contributions to the Ordnance Corps. Staff Sergeant Yang’s exemplary career includes positions as a Wheeled Vehicle Mechanic‚ Recovery Vehicle Operator and Supervisor‚ Platoon Sergeant‚ Field Maintenance Team Motor Sergeant. Motor Sergeant‚ Maintenance Control Sergeant and Instructor/ Writer. Staff Sergeant Yang demonstrated outstanding leadership‚ initiative
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coupon X par value) / 2 = (4% X 1000) / 2 = 20 FV= 1‚000 4. 5-year Treasury bonds yield 5.5%. The inflation premium (IP) is 1.9%‚ and the maturity risk premium (MRP) on 5-year bonds is 0.4%. What is the real risk-free rate‚ r*? 2.59% 2.88% 3.20% 3.52% 3.87% Basic equation: r = r* + IP + MRP + DRP + LP rT-bond5.50% IP 1.90% MRP 0.40% LP and DRP0.00% r* = rT-bond – IP – MRP3.20% Crockett Corporation’s 5-year bonds yield 6.85%‚ and 5-year T-bonds yield 4.75%. The real risk- free rate
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Average Product” as “Average output per employee.” MP has to do with the extra output produced by the last person that was hired. Q (L‚K) = a + bL + cL2 +dL3 only labor is in the SR production formula. Q (L‚K) = a + bKL + cK2L2 +dK3L3 (Both labor and capital are in LR formula.) TFC =Total Capital Costs = rK Here “r” represents the “capital costs over the specified time period for 1-unit of capital K.” TC = wL + rK‚ w = wage rate paid to each laborer (per time period)‚L = number of units of labor
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takers Firm wage comes from market so changes in labor demand do not raise wages. (Imperfectly Competitive Resource Market Structure Imperfectly Competitive Labor Market – Wage makers Quantity derived from MRC=MRP (Qm) Wage (Wm) comes from that point downward to Supply curve. (Market Failures - Externalities Thinking on the Margin… Allocative Efficiency: Marginal
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OPERATION MANAGEMENT Question 1 Briefly explain the activities in Operation Management. Operations management refers to the activities‚ decisions and responsibilities of managing the resources which are dedicated to the production and delivery of products and services.The part of an organisation that is responsible for this activity is called the operations function and every organisation has one as delivery of a product and/or service is the reason for existence. Operations managers are the people
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and a plan for lean production with use of Gantt charts (see Appendix A) will be discussed. A cover letter will be attached detailing how Team D will coordinate aggregate operations planning and TQM for the Riordan’s electric fan plant in China. MRP System The China plant at Riordan decided
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