Name the phases of production planning and control (PPC). Write down the objectives of PPC.
How are inventory levels monitored in retail stores?
Kincaid Memorial Hospital uses 100 syringes of a particular style each day, 365 days per year. The distributor of this product offers the price schedule as in Table 2(c). The cost to hold an item in inventory for a year is estimated to be 30 percent of its cost, and the order cost for this item is estimated to be $15 per order. Determine the most economical quantity to buy each item this syringe is purchased. Assume the minimum inventory is zero.
Table 2(c)
What is meant by reverse engineering? When it is required?
What is production and operations management? What are the key functions of an operation manager?
List and elaborate the functions of production planning and control.
Claire Consultants has been entrusted with task of evaluating business plan that has been divided into four sections - marketing, finance, operations and human resources. Chris, Steve, Juana, and Rebecca form the evaluation team. Each of them has expertise in a certain field and tends to finish that section faster. The estimated times taken by each team member for each section have been outlined in the table below. Each of these individuals is paid $60/hour. (i) Assign each member to a different section such that Claire Consultants overall cost is minimized. (ii) What is the cost of these assignments?
The values are in minutes.
Define the term "operations management". Write down the objectives and benefits of production planning and control.
Write down the goals of reverse engineering. Make a distinction between reverse and re-engineering.
A line balancing problem is shown in Figure 1(c).
B (3.2 mins) -- E (2.3 mins) / \ / \ / C (4.5 mins) -- F (3.5 mins) -- G (2.8 mins) / / A (2.5 mins) \ \ \ D (2.1 mins) \ / \ /