ASSIGNMENT 1 Assignment 1 Solve the following exercise (100pts): 1. Management Decision Problem Snyders of Hanover‚ which sells more than 78 million bags of pretzels‚ snack chips‚ and organic snack items each year‚ had its financial department use spreadsheets and manual processes for much of its data gathering and reporting. Hanover’s financial analyst would spend the entire final week of every month collecting spreadsheets from the heads of more than 50 departments worldwide. She would
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What are the functional areas of management? Answer: There are many tasks every business needs to do if it is going to succeed. Each of these tasks is described as being a function of a business. The following is a brief introduction to each of these functions: * Human Resources - ensures the business has the best staff for the job and that they are able to work effectively in a safe environment; * Finance - will keep a record of all money coming in and going out of the business. They have
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1. A manufacturer’s average work-in-process inventory for a certain part is 1‚000 units. The workstation produces this part at the rate of 200 units per day. What is the average time a unit spends at this workstation? 2. The Wilcox Student Health Center has just implemented a new computer system and service process to \improve e±ciency." As pharmacy manager‚ you are con- cerned about waiting time and its potential impact on college students who \get no respect." All prescriptions (Rxs) go
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Leslie Paz Ricci 20062648 Management Decision Problems 1. Snyders of Hanover‚ which sells more than 78 million bags of pretzels‚ snack chips‚ and organic snack items each year‚ had its financial department use spreadsheets and manual processes for much of its data gathering and reporting. Hanover’s financial analyst would spend the entire final week of every month collecting spreadsheets from the heads of more than 50 departments worldwide. She would then consolidate and re-en ter all the data
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Business Operations (BIO0230) Assignment 2012/13 Student: Vanessa Sears Student ID: U1176604 Assignment Title: Operations Management Defined and in Context Operations Management has evolved over many years and is now considered a critical function in any business‚ as supported by J.R Meredith‚ “operations is critical to success in today’s economy” ( P35‚ Meredith 1992). Businesses need to have faster production‚ cheaper prices‚ better quality products and fast delivery to be competitive
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alternative would be chosen. Exercise 2 page 224 a. Determine the expected profit of each alternative. EP Do nothing = 0.3x50+0.7x60 =$57 EP Expand = 0.3x20+0.7x80 =$62 EP Subcontract = 0.3x40+0.7x70 =$61 b. Analyze the problem using a decision tree. c. Compute the expected value of perfect information. ( EVPI) * Compute the expected regret Do nothing 0.3x0 +0.7x20 = 14 Expand 0.3x30+0.7x0 = 9 (minimum) Subcontract 0.3x10+0.7x10 = 10 The lowest expected regret is 9‚ which
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TRUE or FALSE 1. T F It is impossible to develop a process that has zero variability. 2. T F Assignable variations in a process are also called natural variations. 3. T F An x-bar chart would be appropriate to monitor the number of defects in a production lot. 4. T F The central limit theorem provides the statistical foundation for control charts. 5. T F If we are tracking quality of performance for a class of students‚ we should plot the pass/fail result on a p-chart. 6. T F Sample
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CHAPTER 1 – Operations and Productivity Learning objectives Define operations management Explain the distinction between goods and services Explain the difference between production and productivity Compute single-factor productivity Compute multifactor productivity Identify the critical variables in enhancing productivity What is operations management? Production – the creation of goods and services Operations Management – activities that relate to the creation of goods and services through
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2 Operations Strategy in a Global Environment PowerPoint presentation to accompany Heizer and Render Operations Management‚ 10e Principles of Operations Management‚ 8e PowerPoint slides by Jeff Heyl © 2011 Pearson Education‚ Inc. publishing as Prentice Hall 2-1 Developing Missions and Strategies Mission statements tell an organization where it is going The Strategy tells the organization how to get there © 2011 Pearson Education‚ Inc. publishing as Prentice Hall 2-2
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OM 1. As a service business‚ the operations management activities of an airline company have nothing in common with the operations management activities within a bicycle manufacturing company. True False 2. Operations managers are responsible for managing systems that produce goods and/or provide services. True False 3. Effectiveness refers to achieving intended goals whereas efficiency refers to minimizing cost and time. True False 4. Operations‚ marketing‚ and finance function
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