Ask Question, Ask an Expert


Ask Project Management Expert

Jim's Knives produces knives for certain retail store. His skilled workers can make 10 knives day of their best-selling knife (known as Bowie knife). Their retail store sells average of 5 knives per day. Jim's workers favour to work on only one kind of knife at any given time for efficiency reasons. They have evaluated that changing from one kind of knife to another cost $100. Inventory cost for this knife has been evaluated at $10 per year per knife. Jim's Knives operate both their factory and retail store 250 days year.

a. What batch size for production of Bowie knives would you suggest to Jim?
b. What is the total annual cost of suggestions?
c. How many production runs year does manufacturing plant require to satisfy demand?
d. How long the average batch of Bowie knives will last (in days)?

Project Management, Management Studies

  • Category:- Project Management
  • Reference No.:- M932380

Have any Question? 

Related Questions in Project Management

Competing internationallywhen making purchasing decisions

Competing Internationally When making purchasing decisions, should a corporation reduce its ethical standards in order to allow the company to compete internationally? Take a position and defend your answer. REFERENCE Wi ...

Questionusing the balanced scorecard approach as detailed

Question: Using the balanced scorecard approach as detailed in Chapter 14 (Figure 14.1), identify 4 key metrics that you would propose for your organization's supply management system and how you propose to measure those ...

Task - weightingyour team should consider a newactual

TASK - WEIGHTING Your team should consider a new(actual/ hypothetical) project. You have to develop a project management plan for the project selected by your group. Your project management plan report shall cover manage ...

It project management techniques assignment-task - team

IT Project Management Techniques Assignment- Task - Team Project Management Plan This assessment task relates to the following course objectives: Identify traditional and agile approaches and lifecycles for managing info ...

Project management- international project and project

Project Management- : International Project and Project Oversight The Project Management Maturity Model (PM3) is a model that allows us to describe our organization's functioning level related to Project Management pract ...

Operations managementdiscussionprocess selection product

Operations Management Discussion Process Selection: Product Design and Capacity How is process selection related to product design and capacity determination? Your initial post should be 200-250 words. Discussion 2 Moniq ...

Assignment overviewthe development and implementation of a

Assignment Overview The development and implementation of a Project Management Office (PMO) in an organisation offers many and varied benefits to an organisation and so the popularity of PMOs in the contemporary project ...

1 write short notes ona graphical evaluation and review

1. Write short notes on: a. Graphical Evaluation and Review Technique (GERT) b. Cost control 2. Describe CPM technique of project planning. 3. What do you understand by managing cash flow? 4. Describe how you can choose ...

Student requirementsthe objective of this assignment is to

Student requirements The objective of this assignment is to assess your understanding of basic project management concepts and your proficiency in using project management software to produce project documentation. In pa ...

Questiondescribe two difficulties that an international

Question: Describe two difficulties that an international logistician could experience in moving goods from a country with a developed infrastructure (transportation, communication, and utilities) to a country with a def ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate