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Wk 10 Questions

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ALL WORK MUST BE SHOWN STEP BY STEP, ALL EXPLANATIONS/CONCLUSIONS MUST HAVE SUPPORTING EVIDENCE, SHOWN ANALYSIS AND METHOD FOR REASONING: Operations Management The questions consists of five essay and five problem questions. Answer all the questions. Essay Questions:There is no set length for answers; students may be as verbose or brief as they feel necessary to cover the question. Use this same exam document for your answers, placing them below each question. This portion of the exam is worth 75 points Problem Questions:Make sure to show all your work to get full credit. The instructor needs to know the formulas and calculations you used to get to your final answer. You can do part of the exam in Excel and Paste your Excel work into this document. This portion of the exam is worth 75 points. Note: You may use the text and any other materials. You are NOT to work with anyone else including other students in completing the exam nor discuss it with them.Essay Questions Question 1: What is operations management? Why is it important? Is a good knowledge of operations management more important in service or manufacturing industries? Explain your answer. Question 2: Discuss the use of PERT/CPM techniques for managing projects. Describe what PERT/CPM does. Discuss advantages and disadvantages of using it. What other techniques might you choose to manage your project? Question 3: What are economies of scale in a manufacturing plant? Do they continue forever? What are diseconomies of scale? How might you decide the optimal size of a plant? Question 4: What, in your opinion, are the three most important issues in supply chain management? Discuss why you think these are the key issues. Question 5: Discuss why (or if) inventories are necessary. What are the benefits of inventories? What are the disadvantages of holding inventories? Problem Questions Problem 1.Arsenal Electronics is going to construct a new $1.2 billion semiconductor plant and has selected four towns in the Midwest as potential sites. The important location factors and ratings for each town are as follows:Scores (0 to 100)Location FactorWeightAbbetonBaysideCane CreekDunnvilleWork ethics0.1880907075Quality of life0.1675859590Labor laws/unionization0.1290606070Infrastructure0.1060506070Education0.0880908595Labor skill and education0.0775657080Cost of living0.0670808575Taxes0.0565705560Incentive package0.0590957080Government regulations0.0340506555Environmental regulations0.0365607080Transportation0.0390809580Space for expansion0.0290959090Urban proximity0.0260907080 Recommend a site based on these location factors and ratings.Answer 1: Problem 2.Sawyer Furniture is one of the few remaining domestic manufacturers of wood furniture. In the current competitive environment, cost containment is the key to its continued survival. Demand for furniture follows a seasonal demand pattern with increased sales in the summer and fall months, culminating with peak demand in November.The cost of production is $16 per unit for regular production, $24 for overtime, and $33 for subcontracting. Hiring and firing costs are $500 per worker. Inventory holding costs are $20 per unit per month. There is no beginning inventory. Ten workers are currently employed. Each worker can produce 50 pieces of furniture per month. Overtime cannot exceed regular production. Given the following demand data, use Excel Solver to design an aggregate production plan for Sawyer Furniture that will meet demand at the lowest possible cost.Input:Beg. Wkrs10Regular$16Hiring$500 Units/wkr50Overtime$24Firing$500 Beg. Inv.0Subk$33Inventory$20 MonthDemandRegOTSubkInv#Wkrs#Hired#Fired Jan5005000001000 Feb5005000001000 Mar10001,00000020100 Apr12001,000200002000 May20001,0001,000002000 Jun4004000008012 Jul400400000800 Aug10001,00000020120 Sep10001,0000002000 Oct15001,50000030100 Nov70003,5003,5000070400 Dec50050000010060 Total17,00012,3004,700002467272Answer 2: Problem 3.Complete the following MRP matrix for Item X. Determine when orders should be released and the size of those orders.Item: XLLC: 0PeriodLot Size: Min 50LT: 212345678Gross Requirements 25305625100403020Scheduled Receipts 50 Projected on Hand30 Net Requirements Planned Order Receipts Planned Order Releases Release orders in periods 1 through 5 for quantities of 50, 50, 56, 50, and 50 respectively.Answer 3: Problem 4. Fibrous Incorporated makes products from rough tree fibers. Its product line consists of five items processed through one of five machines. The machines are not identical, and some products are better suited to some machines. Given the following production time in minutes per unit, determine an optimal assignment of product to machine: MachineProductABCDE1171015162021291691431116141512414101018175131291511 Answer 4: Problem 5.The following probabilistic activity time estimates are for a CPM/PERT network.Time Estimates (days) Time Estimates (days)ActivityambActivityamb1126711.52213581353351091154361410249524911123623712111 Determine the following:a. Expected activity timesb. Earliest start and finish timesc. Latest start and finish timesd. Activity Slacke. Critical PathExpected Project duration and standard deviation. Answer 5: Purchase the answer to view itPurchase the answer to view it
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