Available online at www.sciencedirect.com European Journal of Operational Research 186 (2008) 1059–1067 www.elsevier.com/locate/ejor Decision Support An efficient and simple model for multiple criteria supplier selection problem Wan Lung Ng * Department of Management Sciences‚ City University of Hong Kong‚ 83 Tat Chee Avenue‚ Kowloon Tong‚ Hong Kong Received 16 December 2005; accepted 8 January 2007 Available online 20 February 2007 Abstract Simply looking for vendors offering the lowest prices
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Objectives And Responsibilities Of The Store Function Store is an organization is primarily intended to assist in the production of goods or services and no industrial unit of public undertakingof any significant size can be efficiently managed without it.The basic objective is to provide a service to the operating functionsand this aspect must be fully appreciated. All the other activities‚ althoughthey have their own importance‚ are subordinate to the main responsibility.The service rendered by
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AN 300 Review Exam 2 I. Forecasting Forecast Errors: MAD‚ Bias * (1) Forecasts are usually wrong. Errors are inevitable and must be expected. (2) Every forecast should include an estimate of error. (3) Forecasts are more accurate for families or groups. (4) Forecasts are more accurate for nearer time periods. Anything that can be done to reduce lead-time will improve forecast accuracy. * Bias indicates the directional tendency of FE <------> MAD indicates the magnitude of
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Operations Research Modeling Toolset Network Problems Linear programming has a wide variety of applications Network problems Special types of linear programs Particular structure involving networks Ultimately‚ a network problem can be represented as a linear programming model However the resulting A matrix is very sparse‚ and involves only zeroes and ones This structure of the A matrix led to the development of specialized algorithms to solve network problems Types of Network Problems
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computational power required is less compared to non-linear methods. Therefore‚ large problems like optimization of an entire refinery can be performed using LP technique using desk top computers. 3. Solve the following Assignment Problem |Operations |
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For many years now‚ remarkable interest has been shown in supply chain management due to its significant potential to improve the efficiency of operations and to reduce costs. Each individual partner in a supply chain‚ from supplier to buyer in this case‚ can benefit when both partners work closer together. Successful inventory management involves balancing the costs of inventory with the benefits of inventory. Many companies however fail to appreciate the true costs of carrying inventory‚ which
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The document OPS 571 Week 5 Discussion Operations Management Questions 1 shows answer to the following questions: "What are production-planning strategies and how can you incorporate them into your day-to-day activities? Which strategy would be most appropriate for your organization?" Business - Management Review the Project Management email. Write an email response in which you address the following points: Determine which project might be implemented and why (e.g. feasibility
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eventually merge with the slow-moving main population.4 This type of movement is called “stratified-diffusion.”5 In my research‚ I assume that the gypsy moth population behaves like a mainland-island metapopulation‚ i.e.‚ “a population of populations”6 consisting of a mainland population and several smaller dispersed island populations. The best management solution may be a mixed strategy involving intervention on both the small dispersed island populations and the main population
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Operations 202 Little Field Simulation Report Little Field Simulation Game is mainly about the inventory management and optimization problems which are occurring in a factory. Since the last report‚ we tried to generate more profit and took some actions to beat our competitors in market. Firstly‚ we examined our demand and completed job counts to check our productive capacity and inventory. It demonstrated that we were producing faster than our capacity and market had increasing level. Therefore;
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Selecting an Alternative: Three Approaches When selecting from among alternatives‚ managers can use three basic approaches: (1) experience. (2) Experimentation‚ and (3) research and analysis (Figure 6-1). 1. Experience Reliance on past experience probably plays a larger part than it deserves in derision making. Experienced managers usually believe‚ often without realizing it‚ that the things they have successfully accomplished and the mistakes they have made furnish almost infallible guides
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