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Case indicates that 97 rental requests arrived over a 26 week span. Assume no variation in rental times (i.e. the standard deviation of rental times is zero) and that inter-arrival times are exponentially distributed (i.e. the coefficient of variation is 1). Suppose REI has decided to set up a subscription-based rental ski business. In this model, customers pay a flat subscription fee on a monthly basis and can rent skis for one weekend at a time whenever they want at no additional charge. With this model REI is focused on ensuring sufficient inventory availability to their customers who subscribe. Assume the same data as discussed in the REI Rentals case.

•From exhibit 8 see that 97 requests came in over 26 weeks

Arrival rate is 97 requests/26 weeks (1/a) = 3.73 requests per week,

•Inter-arrival time (a) = 1/3.73 = .268 weeks/request

Assume everyone rents for one weekend, p = 1

Also, assume no variation in rental time (standard deviation)

Suppose they keep 3 pairs of skis in Salt Lake City. What is the probability one of their subscribers WILL be able to rent a pair of skis on a given weekend?

A. 78% B. 58% C. 88% D. 68%

What’s the smallest number of skis they would need to stock at Salt Lake City?

A. 8 B. 10 C. 7 D. 9

 
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PlastiPharm has several clients whose contracts require the company to store three to six months of raw materials for them just in case they require a quick turnaround for an order, something that rarely happens. As the contracts come up for renewal, PlastiPharm intends to renegotiate the contract terms to reduce or, ideally, eliminate the inventory clause. Why should PlastiPharm care about excess inventory?

  • Reducing inventory will allow the company to eliminate, or greatly reduce, problems with materials that might become obsolete while sitting on the shelf, thus reducing waste.
  • Managing and reducing inventory will help the company be better organized and allow them to focus on other areas to improve.
  • Making changes to the contract by eliminating the inventory clause demonstrates to the client that PlastiPharm is serious about its lean management processes.
  • Reducing inventory will provide needed storage space for other items that PlastiPharm needs to store in its warehouse.
 
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The kaizen bursts at PlastiPharm involve personnel from production, planning, purchasing, R&D, and engineering – and sometimes others. Which statement explains one of the best results from this team approach?

  • Involving different departments allows for different ideas and perspectives to be presented as well as a deeper commitment to the outcome from everyone.
  • The team approach allows management to better control the kaizen efforts and make sure targeted efforts meet their requirements.
  • Working with people from other departments helps create an inclusive culture and encourages people to work together.
  • Kaizen bursts minimize the need for involving everyone affected by change but still allows for continuous improvement to occur.
 
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Cover Letters

Below is a link to the cover letter brochure developed by the Writing Center and Career Center in collaboration with over 50 departments and offices on campus. The information in this document will serve as the basis for constructing your own cover letter. You may depart from these recommendations only by the approval of your instructor.

  • Exceptional Cover Letters Brochure-1-1.pdf Download Exceptional Cover Letters Brochure-1-1.pdf

To prepare for this discussion, you should also read Chapters 15-16 from our textbook. You should also review the following sample resumes from previous students in this course:

Discussion

For this discussion, please compose one original post that includes

  1. one thing you learned about cover letters by reviewing the handouts, samples, or textbook
  2. one question you have about composing your own cover letter

You have two required response posts that should

  1. comment on or clarify a classmate’s comments on cover letters
  2. answer a classmate’s question
 
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