Questions and Answers of Managerial Economics And Strategy

Marty and Marge are renovating their house. They hope for all work to be completed before the Thanksgiving holiday, which is 55 days away. Given the data below, what is the probability that the house
When does it make economical sense to crash project activities? How do you know when to stop?
Frank owns and operates a company that installs audio visual equipment for corporate clients. He is currently working on a job that must be completed in 17 days. However, the project is running
Evaluate the suitability of lean services in this department.
Your boss has less training than you have in business statistics. She asks you to explain the logic of the least squares regression method for determining a trend line. What will you tell her?
As the regional manager of 27 Burger Queens, you are thinking about expanding the number of outlets in your area. What types of forecasts would you want to create in order to support your decision?
Given the data shown below, use α = .1 and β = .2 to create a trend enhanced smoothing based forecast for period 6. Assume that FIT1 = 20 and T1 = 3. 1 2 3 4 5 26 28 35 Period Demand 25 23
Re-solve problem 20 using a simple exponential smoothing model with α = .8, and with a 2-period moving average model. Which model is best?Data From Problem 20:Given the data shown below, use α = .1
What other considerations might influence the plan that Hughes develops?
In most companies that are considered to be successful users of the S&OP process, the resulting plans and commitments are treated, essentially, as “quasi-contracts.” That is, the agreement
In one of this chapter’s Get Real stories, you read about the experiences of Nintendo in planning production of its Switch system. If you were on the aggregate planning team for the Switch, would
Why are spare parts and service parts considered to be independent demand, rather than dependent demand?
Draw a product structure tree for the baking pan using the BOM shown below. If there are plans to make 100 baking pans, how many handles are needed? How many bolt and nut sets are needed? Baking
Using the data from problem 1, you have been asked to develop an overall cause-and effect chart explaining why students arrived so early.Data from in problem 1 Minutes Arrival Before Class
Using the data from problem 1, develop a check sheet and analyze the results.Data from in problem 1 Minutes Arrival Before Class (class starts at time
Using the data from the preceding problem, the instructor in charge of these five classes strongly feels that the arrival patterns are strongly influenced by the class (i.e., the arrival rates vary
Using the date from problem 1, develop a check sheet by different class and analyze the results. Minutes Arrival Before Class (class starts at time
A store is concerned with the number of late shipments that it generates each day. Consequently, it decides to track the number of late shipments for the last seven days. The data are summarized in
Using the control chart developed in the previous problem, plot the following data received from the store for a 10-day period. What insights for management do you have based on your analysis? Day 31
Management is concerned about the operation of its 123XYZ work center. From past studies, it knows that X̄ is 12.14, the LCL is 11.74, and the UCL is 12.54. The following data were collected for a
Chapter 6 introduced the case, “A Comment on Management Attitude.” Review that case from a Moment of Truth perspective. What are the key takeaways for you when this approach is applied? What
Should Dexter go ahead with the traceability initiative? How much should he be willing to invest in technology and training to implement new processes?
What else can be done to reduce inventory costs at Dexter’s Chicken?
Steve Carter is CFO of a small temporary labor supplier. Steve is setting up an account to hold cash that the company needs to pay its monthly bills. Cash needs average $10,000 each month with a
Suppose that Steve in problem 32 does not want to have to continuously monitor the company’s cash account. He instead would like to do a monthly audit (every 30 days) and then order the appropriate
Rachel is making T-shirts that she hopes to sell at the upcoming “War on War” concert. The T-shirts cost $6 each to produce, and she will price them at $20 each. She expects that she can donate
Suppose that in problem 35, Rachel can spend $1,000 to buy a well-placed booth at the concert. Doing so would raise the expected sales of T-shirts from 1,000 to 1,200 and lower the standard deviation
Thor industries operates 10 warehouses around the country. Each facility operates independently, placing its own replenishment orders from the corporate manufacturing plant. To improve delivery lead
McCain Inc. is considering a move toward completely on-line retailing. This would mean closing its eight independent brick and mortar stores, and replacing them with a single fulfillment center.
Is Good Guy’s plan an appropriate application of JIT? Why, or why not?
Identify each of the stakeholders in this situation. What will each give up and get if the proposed system is accepted by GGHS’s clients?
What should the desired outcome (objective) for this department be? How does the purchasing department create value?
Purchasing personnel feel that since Midwestern State University is a public, rather than private, institution, they really do not deal with customers. What is your assessment of this view? Why?
What measures should be used to evaluate the performance of this department?
What lean tools and procedures would you suggest Jane introduce into this department? Why?
Describe the culture developed at WTM as a result of the movement to Six Sigma and Lean.
Under what conditions would you use a Kaizen Event?
What type of culture is most appropriate for the successful introduction of a strategy based on innovation?
Why should you not include setup times when calculating the TAKT times?
To what extent is the current culture consistent with the requirements of an innovation strategy? Why?
Given expected failure rates of 5 percent in really new products, how should a firm like WTM respond? Why is this response so different from what was observed?
What recommendations would you make to Ted Hendrix?
Where would you most successfully apply lean systems principles, during the introductory or growth stages of the product life cycle?
Under what conditions would you use a Kaizen Event?
WatchNU is a company that designs and manufacturers drones for military use. The supply manager is getting ready to renegotiate the contract with the security service provider that it uses for its
Why should you not include setup times when calculating the TAKT times?
Many universities have outsourced operations of residence halls. Do you think this is a good idea? Why or why not?
A construction equipment manufacturer is considering outsourcing the assembly of dashboard components. Strategically the company is focusing on design and final equipment assembly. The company
Using the limited information in the case, develop and apply a weighted point model using a rating scale of 1 (poor) to 5 (excellent).
What other benefits and risks do you see for each supplier?
For an organization with which you are familiar, provide an example of each of the four categories of purchases shown in Figure 10-2. What category strategy would you use for each? Why?
Which supplier do you recommend? Why?
In what situations should a company work with a poor performing supplier to improve its performance? Why?
Digital technologies are rapidly changing sourcing and supply management. What are the potential benefits and drawbacks to the adoption of digital technologies in supply management?
Based on your analysis, what would you recommend to Bob Barley?
A company needs to ship 500 men’s suits valued at $600 each to its distribution center. Annual inventory carrying costs are 20%. Shipment by truck would take 8 days at a cost of $500. Shipment by
What are some of the primary ways that the design of a DC and an FC may differ? Why?
What types of logistics capabilities are needed to address the problem of the “last mile”?
Why do you think so many firms are concerned about logistics issues when they move into new markets such as China and Russia?
Based on the information contained in this chapter, what are the critical linkages between the logistics management system and other functions such as operations and supply management?
What factors are to be considered when deciding if logistics should be outsourced to a 3PL?
Which digital technologies will have the greatest effect on logistics? Why?
Creative Crafts needs to determine where to locate a new warehouse to serve its retail stores in Ohio. Find the center of gravity location using the following information. Retail Location X
A manufacturing company wants to locate its new plant to facilitate shipping from its suppliers. Using the information below, determine the location using the center of gravity. Supplier Location X
As mentioned in the case, Tom has a recommendation from a local telecommunications company for increasing the capacity of the phone system. Is this recommendation adequate to help address the
What do you think are the most important factors driving customer satisfaction with Cemex’s product and service? How will the new mobile apps improve customers’ experience and satisfaction?
Is IBM a product supplier or resource/technology supplier for Cemex? Essentially, what is IBM supplying?
What are the primary operations management decisions in each of the following corporations?a. Marriott Hotels and Resortsb. A private golf and tennis clubc. Ben & Jerry’sd. ExxonMobil
What changes will implementation of the apps require in Cemex’s back-office operations such as sales, support, accounts payable, and accounts receivable? How will these operations become more
Assume that you are hired as a consultant to help Otis Toy Trains. What recommendations would you give to the management of Otis regarding the attractiveness of this proposal?
How will implementation of the apps improve planning at manufacturing plants and logistical hubs?
For the prior problem, management wants to double the return on assets, without affecting sales, cost of goods sold, variable expenses, fixed expenses, or fixed assets. Rather it wants to focus on
Assume that Otis decided to accept this proposal. Identify and discuss the most appropriate relationship that you would recommend for Otis and JLPTC. What risks are present in this proposal? How
Assume that you are hired as a consultant to help Steinway deal with these latest problems. How could you use a value-driven approach to help this firm address these problems? What would you
Compare the order winners, order qualifiers, and order losers for the customized chassis and for the proposed TFC chassis. To what extent are these factors similar?
A critical concept introduced in this chapter was that of the value proposition. Explore two competing products (e.g., Samsung’s Galaxy and Apple’s iPhone). Identify the underlying value
What type of strategic consistency would you expect to find in TFC for its existing customized chassis? Would this be the same type of consistency that you would find with the proposed chassis?
What would you recommend to John Stickley that TFC should do to increase its sales and to stimulate demand?
Evaluate the proposal for this new line of chassis. Is this a business that TFC should get into? If yes, why? If no, why not?
What recommendations would you give Lisa Jacobs regarding the MOT proposal? In preparing your answer, consider the following questions:a. What is your evaluation of the business model that is in
How would you convince a manager of the value of improved cyber security? As you develop your arguments, do a google search for examples of how cyber breaches have affected companies and their
Why is cyber security a supply chain rather than corporate concern? Again, consider doing a google search for data about this question.
Under what conditions could inspection, storage, and transport be considered value-adding?
Interpret Juran’s Law from a process-thinking perspective. How would this change your approach to problem solving?
Assess the production process for the Dodge Ram tail- light assembly. How efficient is it?
Develop a process map for this operation.
Where are the largest opportunities to reduce waste and associated costs?
What strategy/approach would you use for making recommendations to Barry Jamieson?
This problem uses American Vinyl Products. The management at American Vinyl Products has decided that a rigorous and effective approach has to be applied. Consequently, they have decided to apply
Make a list of customer desired traits for a pencil.
Patients at an emergency room in a large urban hospital frequently experience long wait times before they actually see a physician. The hospital has decided to use FMEA to determine an action plan
A company that assembles high fidelity headphones needs to design an assembly line for one of its new products. The tasks needed and their relationships are shown in the following figure. To meet
You have probably experienced some form of “virtual reality.” Discuss the types of “realities” that might be simulated when evaluating the merits of a given product design.
What are the benefits and drawback from the lack of automation in Ohori’s coffee roasting process?
Use line balancing and service blueprinting to redesign the process at Sonnie’s. What changes do you recommend? Why?
Postal services and logistics companies are experimenting with delivery using drones. What are the benefits and drawbacks of this application of technology?
Employee empowerment is an essential element of quality management, especially in services. From your own experience, cite instances where a service provider empowered its employee to go the extra
Given the following cost information for Company XYZ, calculate:a. Total appraisal costb. Total prevention costc. Total cost of internal failuresd. Total cost of external failurese. Total cost of
Pick a product (good or service) that you are interested in consuming sometime in the near future (for example, a textbook, apartment rental, cell phone, etc.). Analyze the offerings of two competing
One concern with the adoption of process automation such as self-driving vehicles and robots is the impact on society. What are the societal challenges with process automation? How might these be

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