O. Scheduling for the Short Term Claire Consultants has been entrusted with the task of evaluating...

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O. Scheduling for the Short Term Claire Consultants has been entrusted with the task of evaluating a business plan that has been divided into four sections - marketing, finance, operations and human resources. Chris, Steve, Juana, and Rebecca form the evaluation team. Each of them has expertise in certain field and tends to finish that section faster. The estimated times taken by each team member for each section have been outlined in the table below. Further information states that each of these individuals is paid #60/hour. Times Taken by Team Members for Different Sections (minutes) Marketing Finance Operations HR Chris 80 120 125 140 Steve 20 115 145 160 Juana 40 100 85 45 Rebecca 65 35 25 75 1. Assign each member to a different section such that Claire Consultant's overall cost is minimized. 2. What is the total cost of these assignments? P. JIT, Lean Operations, and the Toyota Production System Discount-Mart, a major East Coast retailer, wants to determine the economic order quantity for its halogen lamps. It currently buys all halogen lamps from Specialty Lighting Manufacturers, in Atlanta. Annual demand is 2,000 lamps, ordering cost per order is #30, annual carrying cost per lamp is $12. 1. What is the EOQ? 2. What are the total annual costs of holding and ordering this inventory? 3. How many orders should Discount-Mart place with Specialty Lighting per year? Discount-Mart, as part of its new JIT program, has signed a long-term contract with Specialty Lighting and will place orders electronically for its halogen lamps. Ordering costs will drop to P.50 per order, but Discount-Mart also reassessed its carrying costs and raised them to #20 per lamp. 4. What is the new economic order quantity? 5. How many orders will now be placed? 6. What is the total annual cost of managing the inventory with this policy? 7. Provide insight into a JIT purchasing strategy. O. Scheduling for the Short Term Claire Consultants has been entrusted with the task of evaluating a business plan that has been divided into four sections - marketing, finance, operations and human resources. Chris, Steve, Juana, and Rebecca form the evaluation team. Each of them has expertise in certain field and tends to finish that section faster. The estimated times taken by each team member for each section have been outlined in the table below. Further information states that each of these individuals is paid #60/hour. Times Taken by Team Members for Different Sections (minutes) Marketing Finance Operations HR Chris 80 120 125 140 Steve 20 115 145 160 Juana 40 100 85 45 Rebecca 65 35 25 75 1. Assign each member to a different section such that Claire Consultant's overall cost is minimized. 2. What is the total cost of these assignments? P. JIT, Lean Operations, and the Toyota Production System Discount-Mart, a major East Coast retailer, wants to determine the economic order quantity for its halogen lamps. It currently buys all halogen lamps from Specialty Lighting Manufacturers, in Atlanta. Annual demand is 2,000 lamps, ordering cost per order is #30, annual carrying cost per lamp is $12. 1. What is the EOQ? 2. What are the total annual costs of holding and ordering this inventory? 3. How many orders should Discount-Mart place with Specialty Lighting per year? Discount-Mart, as part of its new JIT program, has signed a long-term contract with Specialty Lighting and will place orders electronically for its halogen lamps. Ordering costs will drop to P.50 per order, but Discount-Mart also reassessed its carrying costs and raised them to #20 per lamp. 4. What is the new economic order quantity? 5. How many orders will now be placed? 6. What is the total annual cost of managing the inventory with this policy? 7. Provide insight into a JIT purchasing strategy.