An office manager uses 400 boxes of file folders per year. The price is $8.50 per box for an order size of 199 boxes or less, $8.00 per box for orders of 200 to 799 boxes, and $7.50 per box for an order of 800 or more boxes
Carrying cost is 20 percent of the price of the product and ordering costs are $80. What order quantity minimizes total annual cost?
Answer: Optimal Q = 194. TC(194) = $3730; TC(200) = $3520; TC(800) = $3640, so order 200.
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Among the upper-middle-income countries, also known as industrializing or developing countries, the following aspects are observed except:
A) the CNI capita ranges from $4,126 to $12,475. B) the percentage of the population engaged in agriculture drops sharply. C) people move to the industrial sector. D) the degree of urbanization increases. E) none of the above
Answer the following statements true (T) or false (F)
1. A process strategy is a means of comparing what is happening against what is supposed to happen. 2. Knowing what errors are being made is a key to providing excellent service. 3. Measuring what guests think about a guest experience is easy for an experienced organization. 4. MBWA stands for Management Being Watchful Always. 5. The good organizations pick one primary method for measuring quality.
A ____________________ is the possibility of a loss or injury if you incur a ____________________. A ____________________ is anything that can cause a loss.
Fill in the blank(s) with the appropriate word(s).
A made-to-order manufacturing process is often a part of a ______.
a. push system b. pull system c. demand-based system d. centrally planned economy