Question - what is process selection and facility layout ?
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- Question 4 b) Company ABC wishes to evaluate whether to produce a component internally or purchase from a vendor. The firm has the following options: Internal Production Process 1 Process 2 Purchase from Vendor Vendor 1 Vendor 2 Vendor 3 Variable cost of $17 per unit; annual fixed cost of $200,000 Variable cost of $14 per unit; annual fixed cost of $240,000 Offers a price of $20 per unit for any volume up to 30,000 units Offers a price of $22 per unit for 1,000 units or less, and $18 per unit for large quantities Offers a price of $21 per unit for the first 1,000 units and $19 per unit for additional units If the annual demand is 10,000 units, which alternative would be best from a cost standpoint? For 20,000 units, which alternative would be best?Question 4.4 Montreal Hardware Co. is making a make-or-buy decision. The market feedback shows that the optimal price for this item is $10 each. If the item is outsourced to Laval Hardware Co, there is virtually no cost other than the $6 per unit that they would pay Laval Hardware Co. Internally, they have two choices. Process A requires an investment of $120,000 for design and equipment, but it results in a $4 per unit cost. Process B requires only a $100,000 investment, but its per unit cost is $5. Regardless of whether the item is subcontracted or produced internally, there is a 50% chance that they will sell 50,000 units, and a 50% chance that they will sell 100,000 units. Draw the decision tree appropriate to the alternatives and outcomes stated. Using the decision tree and EMV, what is their best choice?Question1: Evaluation of advantages and disadvantages of outsourcing in operational management activities of a manufacturing concern
- i. QUESTION 5 Given the following data, FC = K10,000; Selling Price = K10; VC = K5; demand = 1000 units. Draw a break-even analysis diagram and from the diagram, determine the following: ii. a. The Break-even point (BEP) in units and total costs, total costs and total revenues. b. Advise the management on what course of action to take. Your friend has just graduated from CBU and has joined a company where there is a lot of waste, the employees are poorly trained and inadequately supervised. He is particularly concerned about the selection phase of the employee recruitment process, especially the selection devices which the company uses to hire employees. Questions: Describe/explain to your friend how, i) Taylor would have improved the operations of this company. ii) the PROCEED model could be used in the employee selection process. (draw a diagram) iii. Briefly compare and contrast the Leadership Grid and the Ohio State Model of leadership.Question 4 An alternative will have fixed costs of $10,000 per month, variable costs of $50 per unit, and revenue of $70 per unit. The break-even point volume is:Question 3 A company BioProd Itd. manufactures components for a ventilator unit used in the medical field. Their annual production volumes are in the range of 1400 to 1600 products. a) Due to the current COVID-19 situation the sales forecast has increased to 5000 products in the next few months. Figure 3 shows their current manufacturing system and process flow for one of the aluminium components which are machined for the ventilator. How would you change the production system to deal with the increased production quantity? Assume that all the current factory operations are done manually. State any additional assumptions you may require to take in order to implement your solution.
- Assignment Question ! Supplying customization places a high demand on CRM system. Discus (4) separate approaches of mass customization. Discuss the implication customization approaches for an organization.Meaning of sourcing?Question: Costing in Operations Management: There are numerous concepts of costs covered in Operations Management. Two such concepts are Marginal Costing and Absorption costing. Required: Discuss the basic differences between these two concepts.
- Question 6 Table below is a time-phased net requirements for Widgets over the next six weeks. Week 1 Requirements 335 The setup cost is $200 and the holding cost is $0.30 per unit per week. Using the Silver-Meal heuristics, indicate the number of units to produce for each of the following period. Enter your answer as integer. Week 1 2 3 4 5 6 2 200 Production Quantity 3 140 4 440 5 300 The total holding and setup cost for the Silver-Meal lot sizing method is $ Note: Enter your value with exactly 2 decimal places, as in 12345.67 6 200Question 5: A Mechanical Design Company produces an innovative design of Batttery used for electric cars. The standard design of producing one(1) unit of Battery is provided in the bill of materials BOM which requires material mix shown in Table Q5a. The current monthly production of Battery is 2000 units per month with the actual material consumption shown in Table Q5b. Determine the following and justify why it is favorable or adverse. (i) Material usage variance; (ii) Material price variance; (ii) Total material cost variance; Table Q5a Usage (units) 5 Materials Total cost (OMR) V 17 W 3 38 X 8 50 Y 38 Table Q5b Usage (units) 12,047 6,902 17,556 4,122 Total cost (OMR) 50,526 94,083 103,953 76,408 Materials V W Y3. Your independent oil and gas company is considering the purchase at time zero of a 100 % working interest in a property. If you elect to develop the lease for an 87.5% revenue interest, the following costs will be incurred: in time zero, the lease bonus cost is $100,00o, intangible drilling costs are estimated at $550,000 while tangible completion costs are estimated at $300,000. Operating costs are estimated to remain constant at $8.00 per barrel (includes production costs, severance taxes and ad-valorem taxes) in each of years 1, 2, 3 and 4. Oil prices are forecasted to be $50.00 per barrel in each of years 1, 2, 3, and 4. Production is summarized in the following table. The escalated dollar minimum rate of return is 12.0%. Use net present value analysis to determine if the acquisition and development of this lease is economically viable: (a) Before considering income taxes, (b) Assuming income tax rate of 30%. (Expense 100% of intangible drilling costs at the end of first year,…