# Economic Ordering Quantity

I need 3 pages of answer to these 20 questions regarding management.

1. Explain how the material that you have encountered during this term will enable to you to be a better employee or manager of an operation.
2.          Describe some of the steps you would take to ensure a low-cost position in an operation where you are the manager.
3.          Explain how the work of Frederick Taylor and the Gilbreth’s are useful in reducing waiting lines in the service industry.
4.          With the goal of optimizing inventory, what would you look for in each of the three major inventory categories?
5.          Among the cases that we have analyzed, which acquisition do you think was the most ill-advised, and why?
6.          Summarize what you thought were the two most interesting and meaningful aspects of Bob Kill’s presentation to the class?
7.          Among the cases analyzed in class, which company you believe was the worst in handling inventory efficiency, and why?
8.          Generate a four-place random number, remove any decimal point and write it here ______.  Let that be  the annual requirement for a component in number of units per year.  If the cost of each unit is \$1.75, the set-up and ordering costs are \$15, and the holding costs are \$.54 per year, what would be the Economic Ordering Quantity for that component? How would the EOQ change if a protective stock of 500 were required?
9.          What are three things that you found interesting in Todd Macgregor’s talk to the class?
10.        Describe how, and why, Determinist Models can improve forecasting.
11.        Explain how you might us Stochastic variables to improve company planning and forecasting. Give examples of four variables that are often interesting to consider as probabilities.
12.        Provide two examples of products that have been unsuccessful according to the five-part criteria we discussed in class.
13.        What are four measurements you would like to see in the Balanced Scoreboard or Operational Review format of a company where you were employed as a manager? Provide brief reasons.
14.        Among the people we have discussed, or studied, or mentioned in class, who would you most like to work for and why?
15.        What were three key points from the presentation of Joe Schwartz?
16.        What were three key points from the presentation of Joan Schatz?
17.        As you completed the project, what two findings did you NOT expect to find about the company you examined for your Operations Assessment project?