opman hw quiz Chapter 12 - Inventory Management: Part 2 & Chapter 17 - Project Management

Given this information:

Lead-time demand = 600 pounds

Standard deviation of lead-time demand = 52 pounds (Assume normality)

Acceptable stockout rate = 4%

 

What amount of safety stock is appropriate (round up to the nearest whole unit)?

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Given this information:

Lead-time demand = 600 pounds

Standard deviation of lead-time demand = 52 pounds (Assume normality)

Acceptable stockout rate = 4%

 

What is the ROP for the information above (re-order point)?

 

Round up to the nearest whole unit.

Burger prince buys ground beef for $1.00 per pound. A large sign outside the store guarantees that the meat is fresh daily. Any leftover meat is sold off to a discount market for 80 cents per pound. Four burgers can be created from each pound of meat. Burger costs, including labor, materials, overhead, and maintenance, are 50 cents per burger. Burgers sell for 60 cents each. Demand is normally distributed with a mean of 400 pounds per day and a standard deviation of 50 pounds per day. What daily order quantity is optimal? (Hint: Underage "shortage" costs must be in dollars per pound).

 

You should provide an answer rounded up to the nearest pound.

Consider the following sequence of activities:

		Time in Days
Activity	Predecessor	Optimistic	Likely	Pessimistic
A	-	5	6	7
B	-	8	8	11
C	A	6	8	11
D	-	9	12	15
E	C	5	6	9
F	D	5	6	7
G	F	2	3	7
H	B	4	4	5
I	H	5	7	8
End	E, G, I

Using the "Likely" times, construct a precedence diagram and select the activities on the critical path.

Group of answer choices

A

B

C

D

E

F

G

H

I

Examine the table below:

			CRASHING COSTS
Activity	Immediate Predecessor	Normal Time (Weeks)	First Week	Second Week
A	-	12	$15,000	$20,000
B	A	14	10,000	10,000
C	-	10	5,000	5,000
D	C	17	20,000	21,000
E	C	18	16,000	18,000
F	C	12	12,000	15,000
G	D	15	24,000	24,000
H	E	8	-	-
I	F	7	30,000	-
J	I	12	25,000	25,000
K	B	9	10,000	10,000
M	G	3	-	-
N	H	11	40,000	-
P	H, J	8	20,000	20,000

The chief project manager would like to rush to get the project done before the busy season. A certain amount of crashing will be needed to ensure the project's completion. Given the information above, determine the minimum cost associated with shaving five weeks off the project length. Note that cells with a "-" cannot be further reduced. Give your answer in whole dollars.