Given the following information about a product at michael, Ask an Expert

Management Studies

Given the following information about a product, at Michael Gibson's firm, what is the appropriate setup time?

Setup labor cost$45.00per hour

Annual holding cost $20per unit

Daily production1,000units/day

Annual demand 27,000?(270 days eachtimes ×daily demand of 100 units)

Desired lot size 300 units

Setup time = ___ minutes ?(round your response to two decimal places).

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92575990

Have any Question?Write your Review or question?

Related Questions in Operation Management

James jones worked at burger king in orlando florida james

James Jones worked at Burger King in Orlando, Florida. James discovered that Burger King was not properly storing its meat. Several customers became ill after eating this same meat. James called the Board of Health regar ...

Based on the unique characteristics of upgrading employee

Based on the unique characteristics of upgrading employee delivering desktop computers and software for three regional offices, develop a change control process for addressing changes to the project scope and the project ...

Make a choice between two of the following 2

Make a choice between two of the following 2 suppliers Supplier 1: selling price $12 per unit ( 1 unit = 1000 lbs) average lead time is 1 week, standard deviation of lead time =.5 week. Batch or lot size = 2000 units Sup ...

1 in fiscal year 2012 apple inc nasdaq aapl reported a cost

1. In fiscal year 2012, Apple Inc. (NASDAQ: AAPL) reported a cost of goods sold of $87,846 million and inventory valued at $2,583 million. a. What are Apple’s annual inventory turnovers? b. On average, how many days of i ...

1 twenty-five engine mounts are sampled each day and found

1. Twenty-five engine mounts are sampled each day and found to have an average width of 3 inches, with a standard deviation of 0.2 inches. What are the control limits that include 95.45% of the sample means? 2. Several s ...

Case studycold stone creamery is a relatively new ice cream

Case Study Cold Stone Creamery is a relatively new ice cream company that faces stiff competition in the marketplace from such established brands as Ben & Jerry’s and Haagen-Dazs. The first store was established in Saffr ...

1 using michael porterrsquos value chain diagram explain

1) Using Michael Porter’s value chain diagram, explain “if it does not add value, don’t do it.” Can you find examples of people/companies doing what’s not adding value to their customers? 2) How is value in retail define ...

1 we all know how important it is to pre-test a

1. We all know how important it is to pre-test a questionnaire before it is “launched”. Who would be the ideal “respondent” to use for pre-testing a questionnaire? 2. Discuss an example of a real-life organization that u ...

1 if rxx for a test is 70 and ryy for a performance

1. If rXX for a test is .70. and rYY for a performance criterion is .60, the maximum possible validity is: 2. What KSAO is easiest to measure with a structured interview? 3. Small sample sizes make which type of validati ...

Strategic perspectives in the retail industry1 do technical

Strategic Perspectives in the Retail Industry 1. Do technical advances brought on by innovation represent a threat or an opportunity? Why? 2. You are to research and highlight an article which discusses how a new innovat ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Operation Management Expert