11:14 LTE Done Scan_Gerwig_Lisa A_20211120-... A 8. Is a scorecard the only tool used for improving operations? Now do staffing models and labor optimization algorithms contribute toward productivity? 10. How can return on investment models help und EXERCISE PROBLEMS 1. Based on the following data, calculate the single-factor productivity ratio using hours of labor for a housekeeping department. . Number of employees = 100 . Average hourly rate = $5.50 . Total hours worked in September = 15,570 . Total square feet maintained = 190,000 2. In the preceding problem, using sensitivity analysis, if the productivity ratio was 13.1 the previous month, has productivity increased or decreased? By what percentage? 3. Assume that a new piece of equipment could allow 25% of the labor force in Question 1 to be eliminated. Using a 173-hour working month for each employee, a total equipment cost of $60,000 (which has a useful life of 3 years), and ignoring the effect of cash flow and time value of money, would this be a good use of capital? If a hospital reported the following results, calculate the full-time equivalent ployees per adjusted occupied bed: Inpatient revenues $129,215,678 Outpatient revenues 44,996, 104 Total patient revenues $174,211,782 Inpatient days 23,926 Productive labor hours 916,882 REFERENCES Carter, M. W., & Lapierre, S. D. (2001). Scheduling emergency room physicians. Health Care Management Science, 4(4), 347-360. Godward, M., & Swart, W. (1994, Winter). An object oriented simulation model for determining labor requirements at Taco Bell. Proceedings of the Simulation Conference (1067-1073). San Diego, CA: Society for Computer Simulation International. Kaplan, R. S., & Norton, D. P. (1996). The balanced scorecard: Translating strategy into action. Boston, MA: Harvard Business School Press. P = There are two key components of this equation: Outputs are the level of production or yield (of goods and services) that results from the operations management or conversion process. Outputs are the result of the work conducted through processes and automation. Inputs are all the time, costs, labor, materials, capital, and other resources used in the delivery of these services. For example, if a nurse can visit three patients in a 30-minute time frame, then three visits (or however many clinical procedures performed) would be the output, and the input would be 30 minutes of labor, with the associated cost equal to that time multiplied by the nurse's average hourly wage. If any supplies or other materials were given to the patients during this time frame, those would also be added to the inputs. In other words: E(Procedures, Visits, Units, Activity) I E( Time Cost Labor Materials Capital)