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hotel operations management
Operations Management 14th Edition William J Stevenson - Solutions
Prepare a master production schedule for industrial pumps in the manner of Figure 11.11 in the chapter.Use the same inputs as the example, and lot sizes of 70, but change the MPS rule from “schedule production when the projected on-hand inventory would be negative without production” to
Update the master schedule shown in Figure 11.11 given these updated inputs: It is now the end of week 1; customer orders are 25 for week 2, 16 for week 3, 11 for week 4, 8 for week 5, and 3 for week 6. Use the MPS rule of ordering production when projected on-hand inventory would be negative
Prepare a master schedule like that shown in Figure 11.11 given this information: The forecast for each week of an eight-week schedule is 50 units. The MPS rule is to schedule production if the projected on-hand inventory would be negative without it. Customer orders (committed) are as follows.Week
Determine the available-to-promise (ATP) quantities for each period for Problem 21. LO.1
Prepare a schedule like that shown in Figure 11.12 for the following situation: The forecast is 80 units for each of the first two periods and 60 units for each of the next three periods. The starting inventory is 20 units. The company uses a chase strategy for determining the production lot size,
The objective is to choose the plan that has the lowest cost.Which plan would you recommend? LO.1
Presumably, information about the new line has been shared with supply chain partners. Explain what information should be shared with various partners, and why sharing that information is important. LO.1
Define the term inventory. LO.1
List the different types of inventory. LO.1
Describe the main functions of inventories. LO.1
Discuss the main requirements for effective management. LO.1
Explain periodic and perpetual review systems. LO.1
Describe the costs that are relevant for inventory management. LO.1
Describe the A-B-C approach and explain how it is useful. LO.1
Describe the basic EOQ model and its assumptions and solve typical problems. LO.1
Describe the economic production quantity model and solve typical problems. LO.1
Describe the quantity discount model and solve typical problems. LO.1
Describe reorder point models and solve typical problems. LO.1
Describe situations in which the fixed-order-interval model is appropriate, and solve typical problems. LO.1
Describe situations in which the single-period model is appropriate and solve typical problems. LO.1
What are the primary reasons for holding inventory? LO.1
What are the requirements for effective inventory management? LO.1
Briefly describe each of the costs associated with inventory. LO.1
What potential benefits and risks do RFID tags have for inventory management? LO.1
Why might it be inappropriate to use inventory turnover ratios to compare inventory performance of companies that are in different industries? LO.1
How can managers use the results of A-B-C classification? LO.1
Explain briefly how a higher carrying cost can result in a decrease in inventory. LO.1
What is safety stock, and what is its purpose? LO.1
Under what circumstances would the amount of safety stock held be large? Small? Zero? LO.1
What is meant by the term service level? Generally speaking, how is service level related to the amount of safety stock held? LO.1
Describe briefly the A-B-C approach to inventory control. LO.1
Explain how a decrease in setup time can lead to a decrease in the average amount of inventory a firm holds, and why that would be beneficial. LO.1
What is the single-period model, and under what circumstances is it appropriate? LO.1
Can the optimal stocking level in the single-period model ever be less than expected demand?Explain briefly. LO.1
What are some ways in which a company can reduce the need for inventories? LO.1
What trade-offs are involved in each of these aspects of inventory management?a. Buying additional amounts to take advantage of quantity discounts.b. Treating holding cost as a percentage of unit price instead of as a constant amount.c. Conducting cycle counts once a quarter instead of once a
Who needs to be involved in inventory decisions involving holding costs? Setting inventory levels?Quantity discount purchases? LO.1
How has technology aided inventory management? How have technological improvements in products such as automobiles and computers impacted inventory decisions? LO.1
As a supermarket manager, how would you go about evaluating the criticalness of an inventory shortage? LO.1
Give two examples of unethical conduct involving inventory management and the ethical principle each one violates. LO.1
a. Determine an A-B-C classification for these items:Item Unit Cost Annual Volume (00)1 $100 25 2 80 30 3 15 60 4 50 10 5 11 70 6 60 85 7 10 60b. Find the EOQ given this information: D = 4,500 units/year, S = $36, and H = $10 per unit per year.c. Find the economic production quantity given this
a. The following table contains figures on the monthly volume and unit costs for a random sample of 16 items from a list of 2,000 inventory items at a health care facility. Develop an A-B-C classification for these items.Item Unit Cost Usage Item Unit Cost Usage K34 $10 200 F99 20 60 K35 25 600 D45
The Friendly Sausage Factory (FSF) can produce hot dogs at a rate of 5,000 per day. FSF supplies hot dogs to local restaurants at a steady rate of 250 per day. The cost to prepare the equipment for producing hot dogs is $66. Annual holding costs are 45 cents per hot dog. The factory operates 300
A company that produces hair dryers buys some of the components, but it makes the heating element, which it can produce at the rate of 800 per day. Hair dryers are assembled daily, 250 days a year, at a rate of 300 per day. Because of the disparity between the production and usage rates, the
A mail-order house uses 18,000 boxes a year. Carrying costs are 60 cents per box a year, and ordering costs are $96. The following price schedule applies. Determine the following:a. The optimal order quantityb. The number of orders per year Number of Boxes Price per Box 1,000 to 1,999 $1.25 2,000
A company will begin stocking remote control devices. Expected monthly demand is 800 units. The controllers can be purchased from either supplier A or supplier B. Their price lists are as follows:SUPPLIER A SUPPLIER B Quantity Unit Price Quantity Unit Price 1–199 $14.00 1–149 $14.10 200–499
Demand for walnut fudge ice cream at the Sweet Cream Dairy can be approximated by a normal distribution with a mean of 21 gallons per week and a standard deviation of 3.5 gallons per week.The new manager desires a service level of 90 percent. Lead time is two days, and the dairy is open seven days
Regional Supermarket is open 360 days per year. Daily use of cash register tape averages 10 rolls.Usage appears normally distributed with a standard deviation of 2 rolls per day. The cost of ordering tape is $1, and carrying costs are 40 cents per roll a year. Lead time is 3 days.a. What is the
A car dealership uses 1,200 cases of oil a year. Ordering cost is $40, and annual carrying cost is$3 per case. The manager wants a service level of 99 percent.a. What is the optimal order quantity?b. What level of safety stock is appropriate if lead time demand is normally distributed with a mean
Caring Hospital’s dispensary reorders doses of a drug when the supply on hand falls to 18 units.Lead time for resupply is 3 days. Given the typical usage over the last 10 days, what service level is achieved with the hospital’s reorder policy? (Hint: Use Formula 12–13.)Day 1 2 3 4 5 6 7 8 9
A manager must set up inventory ordering systems for two new production items: P34 and P35.P34 can be ordered at any time, but P35 can be ordered only once every 4 weeks. The company operates 50 weeks a year, and the weekly usage rates for both items are normally distributed. The manager has
Given the following list of items,a. Classify the items as A, B, or C.b. Determine the economic order quantity for each item (round to the nearest whole unit).Item Estimated Annual Demand Ordering Cost Holding Cost(%)Unit Price H4-010 20,000 50 20 2.50 H5-201 60,200 60 20 4.00 P6-400 9,800 80 30
Demand for doughnut holes on Saturdays at Don’s Doughnut Shoppe is shown in the following table.Determine the optimal number of doughnut holes, in dozens, to stock if labor, materials, and overhead are estimated to be $3.20 per dozen, doughnut holes are sold for $4.80 per dozen, and leftover
Burger Prince buys top-grade ground beef for $1.00 per pound. A large sign over the entrance guarantees that the meat is fresh daily. Any leftover meat is sold to the local high school cafeteria for 80 cents per pound. Four hamburgers can be prepared from each pound of meat. Burgers sell for 60
A manager is going to purchase new processing equipment and must decide on the number of spare parts to order with the new equipment. The spares cost $200 each, and any unused spares will have an expected salvage value of $50 each. The probability of usage can be described by this
A Las Vegas supermarket bakery must decide how many wedding cakes to prepare for the upcoming weekend. Cakes cost $33 each to make, and they sell for $60 each. Unsold cakes are reduced to half-price on Monday, and typically one-third of those are sold. Any that remain are donated to a nearby senior
Would using an order interval other than every six weeks reduce costs? If so, what order interval would be best, and what order size would that involve? LO.1
Would you recommend changing to the optimal order interval? Explain. LO.1
Describe the importance of inventory management as it relates to the Farmers Restaurant. LO.1
What ordering system would be best for this situation? LO.1
Given the following information, provide an example of how much of Farmers Sausage Gravy Mix should be ordered. You are doing the order for Thursday. Also, Kristin would like a service level of 95 percent, and you have found that there is a standard deviation of 3.5 units per week, and a moving
Given the above information and an on-hand inventory of 12, determine the risk of stockout at the end of the initial lead time and at the end of the second lead time. The lead time is two days and orders are placed once a week. LO.1
The supplier Kristin uses is located in Ohio. Why might Kristin consider dealing with a nearby supplier instead of the one in Ohio? What reasons might there be for not switching suppliers? LO.1
Bruegger’s maintains relatively little inventory at either its plants or its retail stores. List the benefits and risks of this policy. LO.1
Quality is very important to Bruegger’s.a. What features of bagels do customers look at to judge their quality?b. At what points in the production process do workers check bagel quality?c. List the steps in the production process, beginning with purchasing ingredients, and ending with the sale,
Which inventory models could be used for ordering the ingredients for bagels? Which model do you think would be most appropriate for deciding how many bagels to make in a given batch? LO.1
Bruegger’s has bagel-making machines at its plants. Another possibility would be to have a bagel-making machine at each store. What advantages does each alternative have? LO.1
Discuss the philosophies of quality gurus. LO.1
Define the term quality as it relates to products and as it relates to services. LO.1
Identify the determinants of quality. LO.1
Explain why quality is important and the consequences of poor quality. LO.1
Describe and give examples of the costs associated with quality. LO.1
Discuss the importance of ethics in managing quality. LO.1
Compare the quality awards. LO.1
Discuss quality certification and its importance. LO.1
Describe TQM. LO.1
Give an overview of problem solving. LO.1
Give an overview of process improvement. LO.1
Describe the Six Sigma methodology. LO.1
Describe and use various quality tools. LO.1
List and briefly explain:a. The dimensions of service qualityb. The determinants of quality LO.1
Define the terms quality of design and quality of conformance. LO.1
What are some possible consequences of poor quality? LO.1
Many product reviews are available on the internet. Two examples are reviews on electronics products such as DVD players and high-definition televisions. There are often both positive and negative reviews.a. Do such reviews (positive and negative) influence your purchasing decisions? Why or why
Describe the quality–ethics connection. LO.1
Select one of the quality gurus and briefly describe his major contributions to quality management. LO.1
Briefly explain how a company can achieve lower production costs and increase productivity by improving the quality of its products or services. LO.1
What are the key elements of the TQM approach? What is the driving force behind TQM? LO.1
Briefly describe each of the seven quality tools. LO.1
Briefly define or explain each of these tools:a. Brainstormingb. Benchmarkingc. Run charts LO.1
Explain the plan-do-study-act cycle. LO.1
List the steps of problem solving. LO.1
Select four tools and describe how they could be used in problem solving. LO.1
List the steps of process improvement. LO.1
Select four tools and describe how they could be used for process improvement. LO.1
What trade-offs are involved in deciding on whether to offer a product or service guarantee? LO.1
Who needs to be involved in setting priorities for quality improvement? LO.1
Name several ways that technology has had an impact on quality. LO.1
As a manager, how would you deal with the possibility that customer satisfaction does not always lead to customer retention? LO.1
Give three examples of what would be considered unethical behavior involving management of quality, and state which ethical principle (see Chapter 1) is violated. LO.1
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