Microeconomic Homework Assignment

Microeconomic Homework Assignment

Chapter 13 – Discussion Question # 3, page 539: Define aggregate planning – Also known as aggregate scheduling is concerned with determining the quantity and timing of production for the intermediate future, often from 3 to 18 months ahead. Chapter 13 – Discussion Question # 5, page 539: List the strategic objectives of aggregate planning. Which one of these is most often addressed by the quantitative techniques of aggregate planning? For manufacturers, the aggregate schedule ties the firm’s strategic goals to production plans, but for service organizations, the aggregate schedule ties strategic goals to workforce schedules. Four things are needed for aggregate planning: – A logical overall unit for measuring sales and output, such as pounds of Doritos at Frito-Lay, air-conditioning units at GE, or cases of beer at Anheuser-Busch. -A forecast of demand for a reasonable intermediate planning period in these aggregate terms. -A method for determining the relevant costs. -A model that combines forecasts and costs so that scheduling decisions can be made for the planning period. Which one of these is generally the most important?

Scheduling Decisions

Chapter 14 – Discussion Question # 12, page 576: Identify five specific requirements of an effective MRP system. 1. Master production schedule (what is to be made and when) 2. Specifications or bill of material (materials and parts required to make the product) 3. Inventory availability (what is in stock) 4. Purchase orders outstanding (what is on order) 5. Lead times (how long it takes to get various components) Chapter 14 – Discussion Question # 13, page 576: What are the typical benefits of ERP? Allows companies to automate and integrate many of their business processes, share a common database and business practices throughout the enterprise, and produce information in real time. It also reduced transaction costs and fast, accurate information. Chapter 15 – Discussion Question # 4, page 610: Name five priority sequencing rules.

Explain how each works to assign jobs. First come, first served (FCFS): or first in, first out (FIFO): Jobs are sequenced in the order in which they arrive at the work station – Earliest due date CEDE): Jobs are sequenced in the d L which they are due for delivery to the – Shortest processing time (SPT): Jobs are sequenced in order of the processing time required at the work station, with the job requiting the least processing time at the work station scheduled first. – Longest processing time (LOT): Jobs are sequenced in order of the processing time required at the work stations with the job requiring the longest processing time at the work station scheduled first. – Critical ratio (CR): Jobs are sequenced in order of increasing critical ratio (the ratio of time required by work left to be done to time left to do the work)

Chapter 15 – Discussion Question #12, page 610: What are the advantages to finite capacity scheduling? By providing the scheduler with interactive computing and graphic output.

Chapter 15 – Problem #15.4, page 615: JC Howard’s medical testing company in Kansas wishes to assign a set of jobs to a set of machines. The following table provides the production data of each machine when performing the specific job: MACHINE _ JOB A B C D 1 7 9 8 10 2 10 9 7 6 3 11 5 9 6 4 9 11 5 8

(a) Determine the assignment of jobs to machines that will maximize total production.

(b) What is the total production of your assignments?

Chapter 16 – Discussion Question # 1, page 643: What is JIT? Meaning Just-in-time I an approach of continuous and forced problem solving via a focus on throughput and reduced inventory. Chapter 16 – Discussion Question # 7, page 643: How does TPS (Toyota Production System) contribute to competitive advantage? TPS contributes to competitive advantage through: suppliers, layout, inventory, scheduling, preventive maintenance, quality production, employee empowerment, commitment of management and employees TPS emphasizes employee learning and empowerment in an assembly-line environment.

Chapter 16 – Discussion Question # 8, Page 643: What are the characteristics of just-in-time (JIT) partnerships with respect to suppliers? JIT partnering with suppliers; few suppliers; nearby suppliers; repeat business with the same suppliers; analysis to enable desirable suppliers to become/stay price competitive; competitive bidding mostly limited to new purchases; buyer resists vertical integration and subsequent wipeout of supplier business; and suppliers are encouraged to extend JIT buying to their suppliers.

References:

Heizer, J. and Render, B. (2011). Operations Management (10th ed.). Upper Saddle River, NJ. Pearson Education Inc. Ch. 13, 14, 15, 16

Get Best affordable custom college essay from StudyAcer .

StudyAcer
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work With StudyAcer

StudyAcer

Quality Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

StudyAcer

Qualified Writers

We have hired a team of professional writers experienced in academic and business writing. Most of them are native speakers and PhD holders able to take care of any assignment you need help with.

StudyAcer

Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account.

StudyAcer

Prompt Delivery

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. We will always strive to deliver on time.

StudyAcer

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text.

StudyAcer

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

StudyAcer

Place your order

Fill in the order form and provide all details of your assignment.

StudyAcer

Proceed with the payment

Choose the payment system that suits you most.

StudyAcer

Receive the final file

Once your paper is ready, we will email it to you.

StudyAcer Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

StudyAcer StudyAcer

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

StudyAcer StudyAcer

Admissions

Admission Essays

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

StudyAcer StudyAcer

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

StudyAcer StudyAcer

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied.