Question: must show working procedures Q1. Solve Problem #1 (Page 170). Note: it's not the question #1, it's the problem #1 with numerical data and has

must show working procedures Q1. Solve Problem #1

must show working procedures Q1. Solve Problem #1 (Page 170). Note: it's not the question #1, it's the problem #1 with numerical data and has two parts a) & b). As part of a lean initiative, a manufacturer has reduced the setup cost for machining a component from $200 to $12.5. As a result, the new economic lot size is 10 units. a. The former economic lot size had been much larger. What was it? (Hint: Look at EOQ in Chapter 5, Small Lot Production.) b.If the goal is to reduce the economic lot size to one unit, what must the setup cost be reduced to? Q2. Answer Question #5 (List and discuss the steps in Shingo's SMED technology, page 170). Briefly elaborating each of the steps (one page maximum)

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