...Chapter 3: Process flow measures 3.3 Solutions to the Chapter Questions Discussion Question 3.1 The opposite of looking at average is looking at a specific flow unit’s flow time, and the inventory status and instantaneous flow rate at a specific point in time. Because flow times change from flow unit to flow unit, it is better to look at the average over all flow units during a period of time. Similar for inventory and throughput. [pic] Discussion Question 3.2 In practice, one often tracks inventory status periodically (each day, week, or month). Flow rate is typically also tracked periodically (even more frequently than inventory status because it directly relates to sales). It then is easy to calculate the average of those numbers to obtain average inventory and throughput during a period. In contrast, few companies track the flow time of each flow unit, which must be done to calculate the average flow time (over all flow units during a given period). [pic] Discussion Question 3.3 First, draw a process flow chart. Second, calculate all operational flows: throughput, inventory, and flow time for each activity. Third, calculate the financial flow associated with each activity. If the activity incurs a cost (or earns a revenue), the cost or revenue rate is simply the throughput times the unit cost or revenue. If the inventory incurs a holding cost, the inventory cost rate is simply the average inventory times the unit holding cost. Fourth,...
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...NORTHCENTRAL UNIVERSITY ASSIGNMENT COVER SHEET Student: Reginald L. Jones THIS FORM MUST BE COMPLETELY FILLED IN Follow these procedures: If requested by your instructor, please include an assignment cover sheet. This will become the first page of your assignment. In addition, your assignment header should include your last name, first initial, course code, dash, and assignment number. This should be left justified, with the page number right justified. For example: JonesRPM6000-8 3 | Save a copy of your assignments: You may need to re-submit an assignment at your instructor’s request. Make sure you save your files in accessible location. Academic integrity: All work submitted in each course must be your own original work. This includes all assignments, exams, term papers, and other projects required by your instructor. Knowingly submitting another person’s work as your own, without properly citing the source of the work, is considered plagiarism. This will result in an unsatisfactory grade for the work submitted or for the entire course. It may also result in academic dismissal from the University. | | PM6000-8 | Dr. Steve Roussas | | | Project Procurement Management | Assignment 3 | | | <Add student comments here> ------------------------------------------------- ------------------------------------------------- Faculty Use Only -------------------------------------------------...
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...Stickley Furniture Stickley Furniture Stickley Furniture founded in 1900 by brothers Leopold and George Stickley manufacturing fine cherry, white oak, and mahogany furniture with a prestigious line of mission oak furniture. Stickley Furniture has a production facility outside of Syracuse, New York but now has various showrooms in New York State, Connecticut and North Carolina. Employing 1,350 employees, Stickley Furniture has been able to gain report with local customers and gain a large market share in the north eastern part of the country. With continued growth and technological advances, they have the opportunity to increase production and streamline production processes. (Stevenson, 2012) There are different types of production processing that can be used, such as job shop, batch, repetitive, or continuous as the primary mode of operation. Job shop consists of a variety of custom-made products that are produced in batch numbers but somewhat few in diversity. The batch process occurs when many similar items are produced at one time, stage by stage from station to station and many items are produced simultaneously. Repetitive processing is large categories of standardized items are produced at one time in factory lines. The continuous processing method is products that are being processed are continuously in motivation with activities being done to them as they are moved down the line. Stickley Furniture uses...
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...Supply Chain consists of three units….Supplier, Producer and Customer Four basic flows connect these entities together: 1. The flow of physical materials and services from suppliers to producer to customer 2. The flow of cash from the customer back “upstream” toward the supplier 3. The flow of information back and forth along the chain 4. The reverse flow of products returned for repairs, recycling or disposal.(This is called reverse supply chain and is handled by reverse logistics.) Value Chain (Vs) Supply Chain A Value Chain can be any series of activities that increases the value of a product or service as it passes through stages of development and distribution before reaching the end user. Supply Chain is but one part of value Chain. In basic terms, your supply chain consists of your suppliers, your customers and of course, yourself—the producer. Your extended supply chain adds your supplier’s supplier and your customer’s customers to create your extended supply chain. In order to maximize your competitive advantage you need to strengthen your whole supply chain (the extended supply chain) and turn-it into a value chain. Converting supply chains into value chains is a powerful strategy. Supply chains consist of weak bonds and can be broken easily by a new supplier. Value chains are made of strong bonds and are harder to break. Also, Supply Chains generally include activities like, Inbound logistics, Operations, Outbound logistics, Marketing and Sales, Customer Service. These...
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...putting less into schools and education while putting more into prisons and defense. States are choosing to increase spending on prisons while the funding for education is constantly decreasing. “In 33 of 50 states, corrections- related costs made up a larger proportion of the general fund than in the previous fiscal year, while spending on K-12 and higher education decreased” ( Hawkins). The U.S. is silently making a decision to keep people incarcerated while caring less about a proper education. What they don’t understand is that a proper education is the key to keeping kids and adults out of prison. We need to work together to put education first in the U.S. so we can reduce our ridiculous incarceration rates. Current school policies of zero tolerance and increased police presence at schools have led to a so called “school to prison pipeline”. “While these policies were motivated, in part, by the perceived need to increase "safety" and "security,"...
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...We will direct our attention to the service department overhead which includes the following costs: office supplies; tools; advertising; policy expense; laundry and uniforms; travel and entertainment; membership dues; legal and auditing; freight and express; telephone; postage; training; bad-debts; data processing; heat/light/power/water; equipment repair and maintenance, plus other miscellaneous departmental expenditures. As you are well aware, because a dealership’s annual overhead amounts are highly serially correlated from one year to the next, we will need to conduct our analysis in changes. The spreadsheet contains the following variables: dOH = The change in service department overhead costs. dSALES = The change in service department sales revenue dSUB = The change in departmental revenues that were subcontracted out-of-shop dUCRET = The change in the number of USED CAR retail sales units sold dUCWHOLE = The change in the number of USED CAR wholesaled (auctioned) units sold dIRO = The change in the number of Internal (Dealership) Repair Orders dRRo = The change in the number of Retail (Customer) Repair Orders dEMPL = The change in the number of employees LOSS =1 if the department profit < 0. If the department is profitable then LOSS=0. Your assignment: A1....
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...The Nissan Leaf: Marketing a New Technological Paradigm William Trapp BUS330 Instructor- Benjanette Matthews February 25, 2013 The Nissan Leaf: Marketing a New Technological Paradigm With each passing moment the technological capabilities of the human race continually evolves at an exponential rate. No industry reflects this more than the computer micro-processor industry. Advancements in this industry have been so extensive that it simply unfathomable for most people. According to Intel cofounder Gordon Moore the processing power of the average computer processor can be expected to double every two years (Moore’s Law, n.d.). This exponential rate of evolution has been the benchmark for our technological growth for the better part of a century. From 2000 to 2009 alone the number of transistors on an average microchip went from 37.5 million to a whopping 904 million increasing the processing power at rate that simply boggles the mind (Moore’s Law, n. d.). The ripples from the technological growth have begun to have a profound effect on the automotive manufacturing industry, and Nissan has taken the reins with the introduction of the all-electric Nissan Leaf bringing the entire industry into a new paradigm. What is the Leaf? The Nissan Leaf is an all-electric 4 door passenger sedan powered by a lithium ion battery pack running an 80 kW AC synchronous electric motor creating 107 horsepower (Nissan Leaf, n.d.). Its Lithium-ion battery pack is estimated to give the Leaf...
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...when seventeen year old Rodrigo and three of his friends jumped into the car and headed straight to the beach. No more pencils, no more books, no more teachers’ dirty looks. It was the last day of school the boys had just finished their finals and it was time to hit some waves. About two hours after they left, Aggie received a phone call. A sobbing voice he could not recognize exclaimed, “Rodrigo was in a crash! Rodrigo is dead!” The voice was that of Aunt Lupe and Aggie could not believe that his cousin Rodrigo was dead. It turns out, the boys had driven through a freeway off ramp and crashed into a car carrying a family of four. Two of the boys survived the crash only to die on the way to the hospital. No one else made it passed the crash. We were later told that the investigator had found no traces of drugs or alcohol and saw no evidence of foul play. So what happened? The investigator said, “They were just kids, they probably just miscalculated the turn. These things happen often with kids his age.” Rodrigo had turned seventeen three months earlier and Aggie had taken him to get his license on that day. So that was that; a whole family was dead and the family and friends of four youths were left to mourn. So many lives left unlived so many futures left unfulfilled. All that Aggie could do was ponder the investigator’s words “these things happen often with kids his age.” According to the Center for Disease Control and Prevention “motor vehicle crashes are the leading cause...
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...THE UNIVERSITY OF HULL The Business School Level 6 Examination January 2011 Financial Control Date : 17 January 2011 Time : 1.30pm Time Allowed : 2 hours Case Study: Derbyshire Honda Read the case study carefully and answer BOTH questions IMPORTANT: Please record question numbers attempted on the front cover of the examination booklet as well as inside the booklet itself. Do not open or turn over this exam paper, or start to write anything until told to by the Invigilator. Starting to write before permitted to do so may be seen as an attempt to use Unfair Means. 26164 1 CASE STUDY DERBYSHIRE HONDA Case study by: Kenneth A.M. In December 2005, Simon Cat, vice president of SuperCar Automotive Services, reflected on some of the challenges his team faced in managing his company‟s stable of automobile dealerships. He illustrated his points by discussing the challenges faced at Derbyshire Honda, SuperCar‟s largest dealership, although all of the SuperCar dealerships faced essentially the same problems. This is very much a people business. It’s people who give us our biggest successes as well as our biggest challenges. At out Honda store, in sales, I would say that about 20% of our people are loyal to the company and really want to do a good job. The other 80% are just in this for the money ... and they can make more money here than anywhere else. Our compensation attracts some very talented people. But some of these people are sharks ...
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...PMI/ACA/03/ASC(14)/001Rev. No.:0PGSMASSIGNMENT COVERSECTION A: PERSONAL PARTICULARS (PLEASE USE BLOCK LETTERS) SECTION A: PERSONAL PARTICULARS (PLEASE USE BLOCK LETTERS) Programme | MBA PGSM | Module Subject: | OPERATION MANAGEMENT | Module code: | OPS 600 | Name of Lecturer: | DR. JEREMY TAN | Assignment title: | ASSIGNMENT 1 – INDIVIDUAL(4979 words) | Assignment Submission date | Name of Group Members | Extension date agreed (Written approval from Mantissa office) | Actual Late submission date | 10TH MAY 2014 | NGU PEI PEI @ PEGGY MBA-S1404-0432 | N/a | N/a | Explanation for Late submission (if applicable) | N/a | Interim mark awarded | | IMPORTANT: | 1. All completed assignments must be accompanied by PGSM front cover sheet when submitted. 2. Students are required to submit their work through MORE Portal to ensure the originality of their work. 3. All references must be fully cited in Harvard/ APA notation. 4. Plagiarism in any form will result in severe penalties. 5. Work submitted within up to 7 calendar days late = 10 marks subtracted. 6. Work submitted up to 10 calendar days late = 20 marks subtracted. 7. Work submitted more than 10 calendar days late = 1 marks awarded. | Declaration: I declare that a) No part of this assignment has been copied from any other person’s work except where due acknowledgement is made...
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...Domestic Product, or GDP, is the total market value of final goods and services produced within an economy in a given year. It is the most common measure of an economy’s total output. 2. When prices change, how do we measure real income? When prices change we measure real income with 3. What is unemployment? Why can’t it be driven down to zero? Unemployment is when you don’t have a job. Unemployed people are those who don’t have a job but are actively looking for work. Unemployment cannot be driven down to zero because the lower the unemployment rate is, the harder it will be for businesses to hire new employees. The harder it is to find qualified employees, the more competitive businesses will be, causing wages to increase. When wages increase, prices will increase for the whole economy. 4. What is the Consumer Price Index and how is it related to the cost of living? The Consumer Price Index measures the cost of a fixed basket of goods chosen to represent the consumption pattern of a typical consumer. Economists use the Consumer Price Index when prices change to measure the cost of living. They will compare the price certain goods from one year to another, measuring the change in price to determine how much money you would need to uphold your previous standard of living. 5. How does increased immigration affect wages and the level of output in the economy? Increased immigration actually increases wages for American workers with a high school education or higher because the labor...
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...individuals, half of the group that were made to eat half a fresh grapefruit 30 minutes before meals over a period of two weeks lost 3.5 pounds or 1.6kg. And they didn't even need to change anything in their diet, just the addition of grapefruit. This effect is due to the compound naringin that boasts fat-blasting properties. As it is rich in fiber, grapefruit also speeds up metabolism and burns a lot of calories. It also helps stabilize blood glucose levels and reduce insulin resistance. It is a super fruit, no doubt about it. But the real magic is that it makes you feel full for longer, because of the soluble fiber that takes a while to digest. This means you won't feel hungry in between meals, effectively reducing the need to snack, which in turn reduces your calorie intake. Avocado Calorie content per 100g: 160 Between avocado and a Mars bar, the former has a higher calorie content, which should go against your goal of achieving caloric deficit. But avocado has a lot of health benefits, and is known as a triple-fat burner. It contains a healthy amount of monounsaturated fats that are less likely to be stored as body fat, and more likely to be used as a slow-burning energy. They also speed up metabolism that promote weight loss. Avocado also contains a type of sugar called mannoheptulose, associated with slow release of insulin. Considering that excess insulin directly contributes to fat storage, maintaining a normal level results in less body fat. But because of the amount of...
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...World Mass Production “The basic and fundamental differences amongst the nations and territories of the world are rooted in the inherent rule of government and the associations the government has with its people. . . In so far as, if the associations are relatively close, prosperity in all forms of human evolution should be at hand; for, if the association is by principle of counteracting parties, the growth and stability of the individuals of the country is in question.” These words from a very wise philosopher deliver the overwhelming resolution of the theme of this book, Japanese Lean Production versus World Mass Production. The book provides a concrete foundation on the relationship between lean production and mass production and how lean production is shown to be a better technique within the automobile industry. A further review will allow for the facts to be born out. The book begins with an overview of the three techniques discussed in the book, craft production, mass production, and lean production. Craft production is characterized as having a highly skilled and decentralized work force who use “general-purpose machine tools” and yield low volumes of production. Generally, with craft production costs do not drop with production, consistency is not achievable, and new technology can not be created. This lead to an improved system called mass production. This technique perfected by Henry Ford replaced craft production in the early 1900’s. Mass production uses...
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...Mary Ho prepared this Case under the supervision of Prof. Su Han Chan and Prof. Ko Wang for class discussion. This Case is not intended to show effective or ineffective handling of decision or business processes. This case is part of a project funded by a teaching development grant from the University Grants Committee (UGC) of Hong Kong. © 2001 by The Asia Case Research Centre, The University of Hong Kong. No part of this publication may be reproduced or transmitted in any form or by any means - electronic, mechanical, photocopying, recording, or otherwise (including the Internet) - without the permission of The University of Hong Kong. Ref. 01/108C 1 KO WANG SU HAN CHAN PHUKET BEACH HOTEL: VALUING MUTUALLY EXCLUSIVE CAPITAL PROJECTS Mike Campbell, General Manager of Phuket Beach Hotel, paced his office and considered an offer made by Planet Karaoke Pub. Planet Karaoke Pub was expanding fast in Thailand. It was looking for a venue in Patong beach area for setting up another outlet, and was eyeing an unused space owned by the Hotel. At this point, the space was located on the second floor of the main building and was very much under-utilised. It was reserved for the construction of an alley linking to a new wing for the hotel, which would not be completed until two years later. Planet Karaoke Pub offered to sign a four-year lease agreement with the hotel for renting part of the unused space. It proposed to pay: • a monthly rental fee of 170,000 baht for the...
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...QUESTION 1: Name: Derek M Grubbs Student ID: 44055574 The two objectives of the FOMC are to maximum employment and price stability. With the inflation at around 2% and the latest unemployment rate being 5.9%, it is time for the Fed to start to return the monetary policy back to normal. In September of 2012, Fed chair Ben Bernanke announced an indefinite program of $40bn per month in asset purchases. Some feared this quantitative easing would never come to an end. However, under new chair, the Fed plans to stop quantitative easing. The Fed’s balance sheet is around 4.4 trillion, up from 900 billion before the crisis; this was caused by the bond purchasing . At this point in the economic recovery, the growth and job creation has some momentum, which can be expected to continue without this stimulus. The issue with this monetary policy is that it may in fact...
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