Information Flow and Decision-Making in Production Scheduling Jeffrey W. Herrmann Department of Mechanical Engineering and Institute for Systems Research University of Maryland College Park‚ MD 20742 Abstract Although often studied as an isolated optimization problem‚ production scheduling in practice is a complex flow of information and decision-making. This paper discusses this perspective and presents ways to represent production scheduling systems. The paper uses a case study of a manufacturing
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Contents I. INTRODUCTION II. THE CASE STUDY III. THE FIVE-STEP PROCESS IV. THE WALKTHROUGH V. SOLVED EXAMPLES A. INDIVIDUAL QUESTIONS FROM XAT 2008 B. GROUPED QUESTION FROM XAT 2008 C. GROUPED QUESTIONS FROM XAT 2009 VI. REASONS BEHIND ELIMINATING OPTIONS VII. PRACTICAL VS. IDEAL Decision Making I. INTRODUCTION The Analytical Reasoning section in the XAT exam has a typical question type called decision making. The questions feature word-based case studies as opposed to mathematical
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agency. In 1935‚ the federal government started involving in electric power industry with the federal power act. This authority was focused on wholesale electricity transactions. Simultaneously‚ PUHCA ( the Public Utility Holding Company Act) was passed that SEC got a control over utilities other than the generation‚ transmission‚ and distribution of electricity. 2) FPL Background a. Company Overview FP&L‚ one of major subsidiaries of FPL Group‚ was resulted from the consolidation of numerous
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generally asserted that the purpose of such commissions is to protect consumers from exploitation by limiting the economic powers of certain firms having pervasive effects on the public interest (for example‚ transportation companies and public utilities). . However‚ the findings of the relatively few em-pirical studies of the economic effects of regulation indicate that important differences actually do exist in these effects. The disparities in these findings raise the question of why the actual
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Edmund Enterprises recently made a large investment to upgrade its technology. While these improvements won’t have much of an effect on performance in the short run‚ they are expected to reduce future costs significantly. What effect will this investment have on Edmund Enterprises’ earnings per share this ear? What effect might this investment have on the company’s intrinsic value and stock price?www.coursehero.com › Canada 4 Chapter Forecasting 4.10 Data collected on the yearly registrations for
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A WATER UTILITY CONCESSIONER PORTERS FIVE FORCES ANALYSIS 1. Rivalry among existing competitors- Low to Non-Existent. Since it is under concession agreement‚ there is no other water utility company that can engage any business similar to A Water Utility concessioner‚ unless granted by the government under special agreement and with full knowledge and approval of A Water Utility concessioner. 2. Threat of new entrants- Low to Non-Existent. Companies that may want to apply for the concession
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Dividend Policy at FPL Group Inc. Problem: On May 5‚ 1994 the utilities analyst of Merrill Lynch downgraded FPL Group Inc. due to an expectation of adjustment in dividend payments. The report also acknowledged the probability of a cut in the dividend. Kate Stark of First Equity Securities Corporation analyzes the situation and she has to predict what is going to happen. This investment alert was published dropped the stock price by 6% on the same day. 3 weeks ago Kate Stark has recommended a “hold”
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he offers a philosophical approach to a new world where‚ instead of giving to charity‚ everyone living in these affluent nations ought to make it their duty to give anything of excess to those suffering across the globe and live at the marginal utility‚ which he would prefer. He also offers a less drastic option of moderate assistance wherein those who are able to assist ought to‚ as long as it does not create a similar moral dilemma. Critics argue that rewriting the moral scheme from charity
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Joan Holtz CASE 5-3 JOAN HOLTZ (A)* (1) Electric utility bills. An electric utility company can estimate with reasonable certainty the expected revenue in a given period by taking into consideration some of the following: customer habits‚ average historical trends‚ demand and supply forecasts‚ and environmental changes. The electric utility industry effectively uses an insurance industry concept—the law of large numbers‚ to determine with certainty‚ expected revenue. The law of large numbers
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Are you familiar with the Law on Diminishing Marginal Utility? This law is based on a theory in Economics which affects the consumer behavior based on utility. Utility is the desire of a person in purchasing a product or service. Marginal utility is the satisfaction that a person gets from the additional product or service he consumes. The law on diminishing marginal utility states that as product or service consumed increases‚ the utility is decreasing. Applying the concept in the present situation
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