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The first part of this exercise considers the basic variables of Harris’s Economic Order Quantity (EOQ). I need your help for my meeting with our Financial Comptroller Fred Ferguson and Purchasing Manager Peter Patrachalski. These two executives continue to argue with each other about our ordering policies. Both have agreed to use a sample part number as the basis of our discussion.

Assume:

  1. Cost to place an order is $48.00
  2. The minimum weight to qualify for a TL rate is 32,000 pounds
  3. Inventory carrying cost is 32%
  4. Our average order cycle time (from when we receive the order to customer receipt of product) is 8.2 days with a standard variation of 1.7 days
  5. Annual demand is 10,752 units
  6. Cost per unit is $112.00
  7. 15 units per case (but you do not have to order in case lots)
  8. 365 days in a year

Comptroller Ferguson claims the most important issue is the cost to carry inventory and argues for ordering 2 cases at a time to keep average inventories low. What is the TOTAL ANNUAL COST of Ferguson’s proposal?

 
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Throughout history, most managers operated on a trial-and-error basis. During the Industrial Revolution in the 18th and 19th centuries, major advances in manufacturing and transportation technologies occurred, such as the steam engine, cotton gin, and railway networks. And with the availability of large numbers of low- skilled laborers, businesses and factories grew in size, becoming more complex to operate. Managers who made minor improvements in management tactics were unable to achieve mass production. not able to bring about increases in production quality. able to achieve impressive increases in production quantity and quality. able to hasten the emergence of management as an informal art. O unable to achieve economies of scale.
 
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Introduction to Business Description Requirements for discussions: • Initial posts must be a minimum of 250 words (due by Wednesday at 11:59pm) and must include: 0 A minimum of one APA 7 in-text citation 0 APA 7 source/reference citation at the bottom of the post • Two response posts to other students must be a minimum of 100 words each (due by Sundays at 11:59pm) • Post on 3 separate days Refer to the “UAV Online Discussion Rubric – 250” in the Course Resources module for more information. After reading Chapters 1,2, and 3, Explain how current economic indicators, such as inflation and unemployment, affect you personally. Explain how they may affect you as a manager.
 
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What are the UCLR and LCLR using 3-sigma? Upper Control Limit (UCLR) = 8.17 mm (round your response to two de Lower Control Limit (LCLR) = 1.03 mm (round your response to two de e) If the true diameter mean should be 155 mm and you want this as your ce Upper Control Limit (UCL3) = mm (round your response to two decin Enter your answer in the answer box and then click Check Answer Shanghai are produced in a forging process, and the diameter is a critical fac mean and the range of this diameter have been as follows: Day 1 2 3 4 5 Mean x (mm) 158.9 151.2 155.6 155.5 158.6 Range R (mm) 4.4 4.6 4.3 5.0 4.7
 
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