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Explain how the material that you have encountered during this term will enable to you to be a better employee or manager of an operation.
Describe some of the steps you would take to ensure a low-cost position in an operation where you are the manager.
Explain how the work of Frederick Taylor and the Gilbreth’s are useful in reducing waiting lines in the service industry.
With the goal of optimizing inventory, what would you look for in each of the three major inventory categories?
Among the cases that we have analyzed, which acquisition do you think was the most ill-advised, and why?
Summarize what you thought were the two most interesting and meaningful aspects of Bob Kill’s presentation to the class?
Among the cases analyzed in class, which company you believe was the worst in handling inventory efficiency, and why?
Generate a four-place random number, remove any decimal point and write it here __. Let that be the annual requirement for a component in number of units per year. If the cost of each unit is $1.75, the set-up and ordering costs are $15, and the holding costs are $.54 per year, what would be the Economic Ordering Quantity for that component? How would the EOQ change if a protective stock of 500 were required?
What are three things that you found interesting in Todd Macgregor’s talk to the class?
Describe how, and why, Determinist Models can improve forecasting.