...Operations Management for MBAs Operations Management for MBAs Fifth Edition Jack R. Meredith Scott M. Shafer Wake Forest University VICE PRESIDENT & EXECUTIVE PUBLISHER EXECUTIVE EDITOR PROJECT EDITOR ASSOCIATE DIRECTOR OF MARKETING MARKETING MANAGER MARKETING ASSISTANT PRODUCT DESIGNER MEDIA SPECIALIST SENIOR CONTENT MANAGER SENIOR PRODUCTION EDITOR PHOTO DEPARTMENT MANAGER DESIGN DIRECTOR COVER DESIGNER PRODUCTION MANAGEMENT George Hoffman Lisé Johnson Brian Baker Amy Scholz Kelly Simmons Marissa Carroll Allison Morris Ethan Bernard Lucille Buonocore Anna Melhorn Hillary Newman Harry Nolan Wendy Lai Ingrao Associates This book was set in 10/12 ITC Garamond light by MPS Limited and printed and bound by RRD/Jefferson City. The cover was printed by RRD/Jefferson City. This book is printed on acid free paper. Copyright © 2013, 2010, 2007, 2002, 1999 John Wiley & Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc. 222 Rosewood Drive, Danvers, MA 01923, website www.copyright.com. Requests to the Publisher for permission should be addressed to...
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...Algebra 1: Simplifying Algebraic Expressions Lesson Plan for week 2 Age/Grade level: 9th grade Algebra 1 # of students: 26 Subject: Algebra Major content: Algebraic Expressions Lesson Length: 2 periods of 45 min. each Unit Title: Simplifying Algebraic Expressions using addition, subtraction, multiplication, and division of terms. Lesson #: Algebra1, Week 2 Context This lesson is an introduction to Algebra and its basic concepts. It introduces the familiar arithmetic operators of addition, subtraction, multiplication, and division in the formal context of Algebra. This lesson includes the simplification of monomial and polynomial expressions using the arithmetic operators. Because the computational methods of variable quantities follows from the computational methods of numeric quantities, then it should follow from an understanding of basic mathematical terminology including the arithmetic operators, fractions, radicals, exponents, absolute value, etc., which will be practiced extensively prior to this lesson. Objectives • Students will be able to identify basic algebraic concepts including: terms, expressions, monomial, polynomial, variable, evaluate, factor, product, quotient, etc. • Students will be able to simplify algebraic expressions using the four arithmetic operators. • Students will be able to construct and simplify algebraic expressions from given parameters. • Students will be able to evaluate algebraic expressions. • Students...
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...Constructing Formulas for Mathematical Operations in Excel (Basic Tips and Techniques) Michelle A. Applequist Computer Information Systems (CIS105) Professor Hari Dhungana Strayer University September 1, 2009 Constructing Formulas for Mathematical Operations in Excel Microsoft Excel uses formulas to construct mathematical operations in a worksheet. After data have been entered into the worksheet, you can perform calculations, analyze data, and create charts. An Excel formula (calculations you create) and functions (formulas pre-existing in Excel) calculates the data entered in the worksheet. Formulas calculate numbers in a particular order. “Excel has one of the most comprehensive set of formulas, not only to perform calculations but also to manage data and records. It also has the ability to instantaneously re-calculate the results as the raw data changes” (Khoo, 2006-9, para. 2). To construct a formula after you have entered data, you must click in the cell that you want the results to appear in, and then type the formula. You can construct formulas by using the sum function, and editing numbers in a cell. It is stated that: Sum is an Excel function—a prewritten formula. Sum indicates the type of calculation that will take place (addition). When the sum function is activated, Excel looks above the active cell for a range of cells to sum. If there is no range above the cell, Excel will look to the left for a range of cells to...
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...Mathematical Operations of Numbers and Simplifying Algebraic Expressions Section A.: Mathematical Operations of Numbers 1.) 8+((12+5) x 4)/2= 8+(17x4)/2= 8+68/2= 8+34= 42 2.) ((3+4)²+4)-2= (7²+4)-2= (49+4)-2= 53-2= 51 3.) ((12+7)+(8/4)²) (19)+(2)² 19+4 23 4.) ½ + ¼ - ⅓= 6/12+3/12-4/12= 9/12-4/12= 5/12 5.) 2/3 x 3/5 = Multiply straight across 2/3 x 3/5 = 6/15 Find common denominator Reduce to lowest term 6/15 ÷ 3/3 = 2/5 6.) ⅓ ÷ ½ = Multiply by reciprocal ⅓ x 2/1= 2/3 7.) 3/2 ÷ ( 1/5 + 6/10) = 3/2 ÷ (2/10 + 6/10) = 3/2 ÷ 8/10 = Multiply by reciprocal 3/2 x 10/8 = 30/16 = 15/8 = 1 7/8 Section B.: Simplifying Algebraic Expressions 1.) 2x + 3x - 5x + x = 5x - 5x + x = 0 + x = x 2.) 2(6x + 5) = 2(6x) + (2x5) = 12x + 10 = 3.) (14x - 7) /7 = 14x - 7 ÷ 7 = 14x ÷ 7 = 2x -7 ÷ 7 = -1 2x - 1 4.) -(-15x) - 3x = 15x - 3x = 12x 5.) 5(3x+4) - 4 = 15x + 20 - 4 = 15x + 16 = 6.) 5(3x-2)+12x = 15x -10+12x = 27x - 10 = 7.) 4(2y-6)+3(5y+10) = 8y-24+15y+30 = 23y-24+30 = 23y+6= 8.) (x+1) (x-2) = Multiply the first 2, outside 2, inside 2, last 2 xx - 2x + 1x - 2 = xx - 2x + x - 2...
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...This week’s material is pretty easy to learn. My learning strategy stayed the same from last week; read the reading material, look at the optional video lectures, answer the discussion question, program the programming assignment, take the self-quiz, etc. … I appreciate learning about the for … each loop. I’m plenty familiar with the for loop, which iterates for a set number of loops, uses initialization, a continue condition, and updating at the top of its block; but, the for … each control structure is a alternative to for. The for .. each loop control structure does not have as complicated continue conditions, and iterates the length of the data structure. I want to master the for .. each loop because it processes a data structure better then the for loop. I interacted with people in the discussion forum. This week’s question asked students to detail the for , and for … each control structure, and include the enum data structure in the explanation. I posted a discussion post, complete with programming examples of each data structure, but there are not enough other student responses to assess. I’ll keep looking for other students to post their discussion assignment, as I need to assess three student discussion posts. This week, I feel it will be helpful to master the for .. each, while, and do … while control structures. Often, I use the for loop, and select case / switch, but the other loops escape my programming toolbox. This week, I learned how to program with while...
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...Aaron Sura June 2, 2014 Wiley plus exercise Question 1. (a). $181,500 (b). $41,200 (c). 38,000 (d). 19,200 (e). 9,500 (f). 63,400 Question 3. In its first month of operation, Maze Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 150 units for $8. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. The company uses the periodic method. FIFO: $1,410 150 units multiplied by $8 equals $1,200 30 units multiplied by $7 equals $210 $1,200 plus $210 equals $1,410 LIFO: $1,160 100 units multiplied by $6 equals $600 80 units multiplied by $7 equals $560 $600 plus $560 equals to $1,160 Therefore, the phantom profit would be $250 if the company were to use the FIFO rather than LIFO. Question 4. Compute the lower of cost or market valuation for O'Connor's inventory. 12,500(camera)+9,000(camcorders)+12,800(DVD’s)= $34,300 Question 5. Establishment of responsibilities: Only cashiers may operate registers. Segregation of duties: The duties of receiving cash, recording cash, and having custody of cash are assigned to different individuals. Independent and internal verifications: Daily cash counts are made by cashier department supervisors. Human resource control: All cashiers are bonded Physical controls: All over-the-counter receipts are registers. Question 6. Segregation of duties: 3 Establishment of responsibilities:...
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...yDylan Dissanayake Student ID : 15223568 Session 1 : Earth Buddy 10/01/12 Q1. How many Earth Buddies can Ben count on producing in one shift? How many if the factory works 2 shifts? Three shifts? How many if it operates three shifts a day, seven days a week? Which operation is the bottleneck? TASK | TIME | NUMBER OF OPERATORS | a.BUDDIES/HR | b.BUDDIES/SHIFT | c.BUDDIES/ "2" SHIFTS | d.BUDDIES/ "3" SHIFTS | e.BUDDIES/ "3" SHIFTS - 7 DAYS | FILLING | 1.5 | 6 | 240 | 1680 | 3360 | 5040 | 35280 | MOULDING | 1.6 | 3 | 225 | 1575 | 3150 | 4725 | 33075 | EYES | 1.2 | 2 | 300 | 2100 | 4200 | 6300 | 44100 | EYE GLASS | 1.2 | 1 | 300 | 2100 | 4200 | 6300 | 44100 | PAINTING | 1.5 | 1 | 240 | 1680 | 3360 | 5040 | 35280 | PACKING | 1.98 | 2 | 363 | 2541 | 5082 | 7623 | 53361 | a. Buddies/hr = 60minutes x Operators time/task b. Buddies/shift = 60minutes x Operators x Productive hrs time/task c. Buddies/ 2 shifts = 60minutes x Operators x Productive hrs x No. Of Shifts time/task d. Buddies/ 3 shifts = 60minutes x Operators x Productive hrs x No. Of Shifts time/task e. Buddies/ 3 shifts = 60minutes x Operators x Productive hrs x No. Of Shifts x Days 7 Days time/task Bottleneck = Lowest output (Moulding) Theoretical Capacity/hr = Operators x 60min ...
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...Introduction: I would like to introduce myself as an Electrical Engineer with Graduation on Electrical Engineering & have experience over 5years on Maintenance, installation, commissioning & Operation. My Name is H.M. Noor Haq Apu, i have done my graduation of engineering in electrical branch from Military Institute of Science & Technology at 2009. Plans for the field of study: I was grown up with a family in which business & production have played an important role. My father has been teaching me different manufacturing methods through taking me to many plants & factories of his friends on my childhood. I was praised for the assembly of a small component at the age of five. Besides, he was always emphasized on the ability of human resources management - the one he was doing all the time – and this was the issue that has occupied my mind during my adolescence that how I can acquire many people with different skills & create value with the management of their workforce. It was the main motivation for me to improve my ability to develop my own business through continuing my education at university. With my pre-studies over different fields, I came to the result that industrial engineering covering main courses like Project control & Management, Engineering economy, production & inventory planning & control & production method, would be completely matching my enthusiasm. However, what I love the most was the electrical engineering...
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...Operations Management MBA 530 Chapter 15: Video Case Study – Scheduling at Hard Rock Café 1. Name and justify several factors that Hoffman could use in forecasting weekly sales. 2. What can be done to lower turnover in large restaurants? 3. Why is seniority important in scheduling servers? 4. How does the schedule impact productivity? Chapter 16 Video Case Study – JIT at Arnold Palmer Hospital – Page 646 1. What do you recommend be done when an error is found in a pack as it is opened for an operation? Patient safety should always be the number one priority. If an error is found when a surgery pack is opened for an operation, the surgery team will need to make a quick decision to determine if the error significant enough to require a replacement, how quickly can a replacement be secured, and if the operation needs to be postponed. Some errors might not be significant enough to cause great concern. For example, perhaps the pack was just loaded in the wrong order. Another error could be that a specific item is missing, but it could be readily available from the hospital’s general supplies. Regardless of the error, the issue must be addressed with the suppliers. They need to know the details of the error so that they can determine the source and prevent it from happening in the future. 2. How might the procedure for custom surgical packs described here be improved? The video seems to indicate that the process for JIT delivery...
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...many other functions (e.g., central store, laundry and linen operations, and sterile processing). The core purpose of material management is to direct and control the movements of goods in an efficient manner through a hospital system (Langabeer, 2008). This material management proposal document will elaborate on the role materials management plays within a hospital and the role of operations managers in this process. This document will further identify possible constraints a hospital may experience in its supply chain, the potential effects and justification on implementing a new collaborative planning process, and provide suggestions on how to manage a hospital supplied during a disaster. Role of Materials and Operations Management The role of materials and operations management plays within a hospital system is vital to the success of any health care organization. According to Langabeer (2008) material management controls significant resources and have total expenditures, or spending at 50% of a hospital budget. Materials management not only directs and controls the supply chain of a health care organization it is responsible for managing the flow of goods throughout the hospital and carry out supply and resource logistics. Materials management has numerous meanings and some hospitals view material management as an umbrella department with various functions such as central stores, laundry and linen operations, and sterile processing with many other functions to endure. Therefore...
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...Seat No.: _____ Enrolment No.______ GUJARAT TECHNOLOGICAL UNIVERSITY MBA Second Semester ( Regular / Evening ) Examination May 2010 Subject code: 820007 Subject ame: Research Methodology and Operations Research Date: 28 / 05 / 2010 Total Marks: 70 Time: 11.00 am – 01.30 pm Instructions: 1. Attempt all questions. 2. Make suitable assumptions wherever necessary. 3. Figures to the right indicate full marks. Q.1 know about customer satisfaction level across India who recently purchased newly Introduced car. (b) A farm is engaged in breeding pigs. The pigs are fed on various products 07 grown on the farm. With a view to ensuring certain minimum nutrition for the growth of the pigs, two types of feeds A and B are purchased from the market. The contents of these feeds per unit, in nutrient constituents are as given in the following table. Formulate and solve graphically. Nutrient content in Minimum requirement of feeds Nutrient feed nutrient for a pig A B M1 12 6 108 M2 3 9 81 M3 15 10 150 If feed A costs Rs. 20 and B Rs. 40 per unit, how much of each of these two should be bought, so that the total cost is minimized? (a) Prepare a research plan for marketing manager of tata Nano car who wants to 07 Q.2 (a) Test the given data using Kolmogorov –Smirnov test. Freshman Number in each class 5 Sophomore 9 Junior 11 Senior 16 Graduate 19 07 Given that critical value for D is 1.36 N at α = 0.05 Take the KS test , with an analysis of the results of the dining...
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...OPS/HC571 April 16, 2012 Selena Townsend, MBA Materials Management Proposal Introduction In today's health care facilities the materials and operations managers are a crucial part in the successful health care facility. One major roles for both managers to understand his or her function of the whole entity of his or her hospital. Operation managers and material managers must work side-by-side to ensure that his or her medical facility runs efficiently and profitable. Also needs to understand the effects of collaborative planning process and why said process is crucial to his or her medical facility. Material managers will also have to manage the supply chain in any type of situation and prove successful. Materials and Operations Manager Duties The material managers play an important part within the health care facility. The material managers will handle over half of the health care facility bottom line. The material managers are responsible for areas throughout the hospital. The important role that a materials manager must be able to handle is control and direct the flow of the supplies from the distributors; receiving; waste; inventory, and when supplies come to medical facility. The operation managers also has an important part within the health care facility. With the operation manager he or she needs to make sure that the goals and the day-to-day operations are running smoothly. The major duty that the operation manager has to maintain daily is staffing;...
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...21 Week 9 Mo 26 Tu Th 27 29 30 We Tu October Week 10 Fr Mo 3 Tu Th 4 6 7 Week 11 Fr Mo 10 Tu Th 11 13 14 Week 12 Fr Mo 17 We 19 Core Modules Marketing Management Operation Management Organizational Behaviour Strategic Planning Managing Information Module Mo Code 1 MM OM OB SP MI Tu Th 2 A A A A A A AM A A A A A A A A A A A A AM A A A A A A A A A A A A AM AM AM Electives Financial Pathways Study Weeks Timetable October November Week 13 Mo 31 Tu Th 1 3 4 Week 14 Fr Mo 7 Tu Th 8 10 11 Week 15 Fr Mo 14 Tu Th 15 17 18 Week 16 Week 17 Fr Mo 21 Th Mo 24 28 Tu Th 29 1 2 December Week 18 Fr Mo 5 Tu Th 6 8 9 Week 19 Fr Mo 12 Tu Th 13 15 16 Week 20 Fr Mo 19 Th Th 22 5 Fr 6 January Week 22 Week 23 Th 12 Fr Th 13 26 Fr 27 MBA - Financial Management (CIMA/ACCA students only) Advance Financial Management Performance Measurements and Control AFM PMC A A A A A A AM A A A A A A AM Study Weeks Timetable October November Week 13 Week 14 Fr Mo 4 7 Tu Th 8 10 3 11 Week 15 Fr Mo 14 Tu Th 15 17 18 Week 16 Week 17 Fr Mo 21 Th Mo 24 28 Tu Th 29 1 2 December Week 18 Fr Mo 5 Tu Th 6 8 9 Week 19 Fr Mo 12 Tu Th 13 15 16 Fr Mo 19 January Week 20 Week 21 Week 22 Week 23 Th Th 22 5 Fr 6 Th 12 Fr Th 13 26 Fr 27 RMTh Mo 31 Tu Th 1 Research Methodology Modules Marketing Management Operation Management Organization Behaviour Strategic Planning Managing Information Performance Measurements and Control Advance Financial Management Research Methodology RMth ...
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...Study No. 3 WHY DON’T WE SELL THE CLUB? By Hur Tze Huan CA(M), FCMA(UK), CFP, MBA(UKM), Cert. Trainer The Club Releks Golf & Country Club (the Club) was one of the few members’ clubs in Malaysia. Its 4,000 plus members not only enjoyed golfing and other recreational activities of the Club, they were also each a part owner of the Club’s assets, including the land. The Club’s 36-hole course sat on 300 acres of prime land surrounded by residential and shop-office properties. In addition, the Club had accumulated a cash reserve of RM10 million over the years. This was placed in fixed deposits at several local banks. The organization structure of the Club was just like any other club or association. The President, Vice President, Honorary Secretary, Honorary Treasurer and 8 committee members made up the decision-making inner circle, called the General Committee (the GC). The GC was the equivalent to the board of directors of a company. The biannually elected GC members served on honorary basis. The Club operated on an annual budget of over RM10 million. The operation of the Club was complex. It employed a work force of more than hundred persons to run the day-to-day activities. The work force was headed by the General Manager (GM). Under him there were 11 functional departmental managers or executives. The departments were finance, food and beverages (F&B), golf operation, course maintenance, membership, administration & human resources, support service...
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...Programme OPERATIONS MANAGEMENT ASSIGNMENT OCTOBER 2010 – SEPTEMBER 2011 Sections: Page 1 Course Overview 2 2 Assignment topics 4 3 Writing up your assignment (Individual or Group) 7 4 Guide to approaching case studies 12 Class title Operations Management Credits 10 Class aims Operations Management refers to those activities which are more or less directly concerned with the creation and delivery of goods and services. The course is intended to give you a theoretical framework for thinking about operations in both manufacturing and service contexts and to describe some practical applications of operations management. In the course we will address key aspects of design, planning and control of operations systems, and to provide an understanding of the operations function in a global context. Learning outcomes Subject specific knowledge and skills including: • Understand the history of Operations Management as a subject and consider the challenges facing Operations in future with particular reference to service operations, value adding and sustainable competition. • Understand the need for an Operations Strategy to operate with a Business Strategy • Describe Operational strategies in terms of Fit, Sustainability and Risk • Assess the choices and trade-offs inherent in developing an operations strategy (assessment of alternative strategies) • Describe the nature of operations as an...
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