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### MGMT 326 test2 su 06

Course: MGMT 326, Fall 2008
School: Winthrop
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Word Count: 746

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326 MGMT Summer 2006 Test 2 Dr. Smith Name:______________________________________________________ 1. A jewelry store makes necklaces and bracelets from gold and platinum. The store has developed the following linear programming model for determining the number of necklaces (N) and bracelets (B) to make in order to maximize profit for the week. The problem has been solved using Excel Solver as shown on the attached...

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326 MGMT Summer 2006 Test 2 Dr. Smith Name:______________________________________________________ 1. A jewelry store makes necklaces and bracelets from gold and platinum. The store has developed the following linear programming model for determining the number of necklaces (N) and bracelets (B) to make in order to maximize profit for the week. The problem has been solved using Excel Solver as shown on the attached page. Use the formulation and results to answer the questions. (24 pts.) Max \$350N + \$400B Subject to: 3N + 2B <= 23 (gold, oz.) 2N + 4B <= 26 (platinum, oz.) 15N + 12B <= 123 (labor hrs. available) a. What will the stores profit be for the week? ________________________ b. Cell E12 has an equation in it. What is the equation in cell format? ___________________________________________ c. Non-negativity constraints are not given above. If they apply, write them. If they do not apply, explain why they do not apply to this problem. _________________________________________________________ d. In Solver, what would the Target Cell be? _________________________ e. In Solver, which cells are changed? _____________ _______________ f. How would the constraint for platinum be entered into Solver (in cell format)? ___________________________________________________ g. Oops! We forgot we only have a few clasps available. The necklaces and bracelets each use the same clasp, but we only have 8 clasps available for next week. Write the constraint in standard linear programming format (like the ones above). ____________________________________________________ Continued on next page h. Janie, one of the jewelry craftsmen, really wants to work some overtime next week to get money for vacation. Should we let Janie work overtime? Why or why not? 2. We are going to do a (mini) ABC inventory analysis. With only five items (in the interest of time), we will only have one A item. Which item should be the A item? (5 pts.) Item No. Annual usage Cost per unit 23 2000 \$4.00 45 2000 \$3.00 A item _______ 67 1500 \$6.00 89 3500 \$5.00 91 5000 \$2.00 3. Tacky Souvenirs sells lovely sea shell necklaces at its island store. These necklaces cost Tacky \$2.00 each. Customers usually buy the necklaces at a rate of 100 a week. The store is open 52 weeks a year. Queen Tacky, the owner, estimates her ordering cost is \$15 per order. The accountant has estimated that annual holding costs at the store are 20% of the item cost. a. Calculate the economic order quantity for the necklaces. (7 pts.) 2 DS H b. With the order quantity used in part (a) above, calculate the average number of necklaces Tacky will have on hand. (2 pts.) 4. From an operations perspective, give two reasons seller as or supplier would offer a quantity discount. (4 pts.) a. ______________________________________________________ b. _______________________________________________________ 5. How does the inventory total cost model we discussed in chapter 12 have to change for an organization to order in the smaller quantities discussed in chapter 7 (JIT) without increasing total cost. (HINT: The answer is not holding or carrying cost.) (4 pts.) 6. Chapters 7 (JIT) and 10 (Layout) mentioned cellular layouts. What are cellular layouts? You answer should include group technology and that you understand the concept of group technology. What is the benefit of a cellular layout over a product layout? Benefit over process layout? (10 pts.) 7. What is a pull production system? In your answer, include how a kanban would be used in pull production. (7 pts.) 8. Give an example of when a company should select a location that is close to: (4 pts) a. Suppliers _____________________________________________ b. Customers _____________________________________________ 9. Slide 3 for chapter 9 stated, Capacity is usually purchased in chunks. Explain. (4 pts.) 10. Compare process layouts and product layouts with respect to the following criteria. (Be very clear in your comments to help me understand which is which.) (9 pts.) a. Space requirements b. Flexibility c. Material handling costs 11. Job specialization has several advantages, but a big disadvantage is boredom and its related morale problems. Two ways of eliminating employee boredom are job enlargement and job enrichment. Briefly describe any on...

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