Operations Management Review Questions

INTRODUCTION TO trading operations MANAGEMENT Spring 2012-ASSIGNMENT 1 Name 1 &8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212 ID &8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212 Name 2 &8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212 ID &8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212 Question 1 15 Marks phellem Richards, the production motorcoach of Zychol Chemicals, is preparing his quarterly report, which is to hold a productiveness analysis for his department. One of the inputs is production data ready by Sharon Walford, his operation analyst. The report, which she gave him this morning, showed the hobby. 2011 2012 Production ( social units) 4,500 6,000 Raw material used (barrel of oil color by-products) 700 900 Labor hour 22,000 28,000 Capital apostrophize applied to the department ($) 375,000 620,000 Bob cutting the his la bor cost per hour has increase from average of $13 per hour to an average of $14 per hour, primarily due to a transport by management to become more competitive with a new company that had just opened a plant in the area. He also knew that his average cost per barrel of raw material had increased from $320 to $360. He was concerned about the accounting procedures that increased his capital cost from $375,000 to $620,000, but earlier discussions with his boss suggested that there was nothing that could be through with(p) about the allocation. Bob wondered if his productivity had increased at all.He called Sharon into the office and conveyed the higher up information to her and asked her to prepare this part of the report. Discussion Question 1- Prepare the productivity part of the report for Mr Richards. He probably expects some analysis of productivity inputs for all factors, as well as a multifactor analysis for twain years with the motley in productivity (up or down) and the amount noted. 2- weary additional information related to the cost of production were available. The cost per unit for 2011 was $120 and for 2012 was $125. Considering the increase in the cost is there a change in multifactor productivity growth? ancestor Q1Question 2 15 Marks Forecasts ground on average. Given the following data (Stevenson page 96) Period outlet of Complaints 1 60 2 65 3 55 4 58 5 64 Prepare a forecast exploitation all(prenominal) of these approaches a. The appropriate naive approach. 2 marks b. A three period pathetic average. 3 marks c. A weighted average using weight of 0. (most recent), 0. 3 and 0. 2. 4 marks d. exponential smoothing with a smoothing constant of 0. 4. 6 marks Solution Q2 Question 3 15 Marks Using seasonal worker relatives, Apples Citrus Fruit Farm airs boxed harvest-home anywhere in Middle East. Using the following information, forecast shipments for the prototypical four months of next year. Month Seasonal Relatives Month Sea sonal Relatives January 1. 2 July 0. 8 February 1. 3 August 0. March 1. 3 September 0. 7 April 1. 1 October 1. 0 May 0. 8 November 1. 1 June 0. 7 declination 1. 4 The monthly equation being used is Yt = 402 + 3t Where t = 0 correspond to January of two years ago Yt = Number of boxes of fruits judge to ship in month t. Solution Q3Question 4 15 Marks Consider the following two proficiencys for forecasting F1 and F2. The actual and the two rotarys of forecast are as follows Period Demand F1 F2 1 68 66 66 2 75 68 68 3 70 72 70 4 74 71 72 5 69 72 74 6 72 70 76 7 80 71 78 . Calculate the MAD, for apiece set of forecast. Given your results, which technique appears to be more accurate? Explain b. Calculate the MSE, for each set of forecast. Given your results, which technique appears to be more accurate? c. Calculate the MAPE, for each set of forecast. Given your results, which technique appears to be more accurate? Solution Q4 Question 5 10 Marks Rick Wing, salesperson for Wave Soldering Systems, Inc. (WSSI), has provided you with a proposal for improving the temperature control on your present machine.The machine uses a hot-air knife to cleanly remove excess solder from printed circuit boards this is a great concept, but the hot-air temperature control lacks reliability. According to Wing, engineers at WSSI chip in change the reliability of the critical temperature controls. The new system still has the four beautiful integrated circuits controlling the temperature, but the new machine has a funding for each. The four integrated circuits have reliabilities of 0. 90, 0. 92, 0. 94, and 0. 96. The four alleviation circuits all have a reliability of 0. 90. ) What is the reliability of the new temperature controller? b) If you pay a premium, Wing says he can improve all four of the backup units to 0. 93. What is the reliability of this option? Solution Q5 Question 6 15 Marks A stand satellite has an expected life of 16 years from the meter it is gear up into earths orbit. Determine its probability of failure after each of the following lengths of dish. (Assume Exponential distribution is appropriate. ) 2. 5 marks each a, b, c, and d a. more(prenominal) than 9 years b. Less than 12 years c. More than 9 years but less than 12 years . At least(prenominal) 21 years Solution Q6 Question 7 15 Marks An office manager has received a report from a consultant that includes a portion on equipment replacement. The report indicates the scanners have a service life time that is Normally distributed with a think of 41 months and standard deviation of 4 months. On the basis of this information, determine the percentage of scanners can be expected to fail in the following time periods. a. Before 38 months of service b. Between 40 and 45 months of service c. Within 2 months of the mean life Solution Q7