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Discuss the situation described below in terms of the concep…

Discuss the situation described below in terms of the concepts, terms and/or steps of Theory of Constraints.  The key thing is to answer the question as just stated, which means to use the concepts, terms and steps of Theory of Constraints in your discussion of the situation.  ACME Inc manufactures various parts for the aerospace industry. The parts must be manufactured to precise specifications and tested before they can be shipped to the customer organization. It was observed that many parts were typically waiting to be x-rayed to check for deficiencies and this step was holding up the process. To address this, ACME identified an x-ray station at another facility that could be used at low cost when needed to help meet demand. ACME also determined that some part types never experience the deficiencies that x-raying can detect. Consequently, ACME stopped sending those parts through x-ray. ACME also worked with their supply control department to change usual procedure — they repositioned a portion of the set-up and maintenance items used for the x-ray test station from out of the controlled storage room and placed them next to the x-ray station. This reduced the length of time needed to carry out periodic setups and maintenance of the x-ray station. As a result of these actions, ACME saw that parts were no longer experiencing noticeable waiting for the x-ray station, and instead were queueing before a specialized machining station.

Three companies have calculated their inventory turn metric…

Three companies have calculated their inventory turn metric of supply chain performance.   Company X has 25.6 turns  Company Y has 20.4 turns  Company Z has 15.2 turnsBased on this information, which company appears to have the best performance in terms of efficient inventory management?

A bakery shop is trying to decide how many doughnuts (dozens…

A bakery shop is trying to decide how many doughnuts (dozens) to make each day.  The cost to make a dozen doughnuts is $5.00.  If sold that day, the doughnuts can be sold for $10.00 per dozen.  On the other hand, excess doughnuts must be sold at the day-old discount price of $4.00 per dozen.    Based on past experience, the manager estimates the probabilities for demand shown below.       Demand (doz).       Probability                   20                       .10             21                       .15             22                       .30             23                       .20             24                       .15              25                         .05 Calculate the optimal number of doughnuts (dozens) to make each day using the service probability ratio method. Type in a few calculations and results to show your solution method and indicate the optimal quantity that you have determined.  (Note: it is not necessary to type in all the calculations and details.)

Suppose that demand has been fluctuating randomly over the p…

Suppose that demand has been fluctuating randomly over the past six months and is expected to continue similarly through the remainder of the year.  Given this information, which of the following forecasting methods would be most appropriate for forecasting demand?

In a gallop poll, 750 adults were asked if they consume alco…

In a gallop poll, 750 adults were asked if they consume alcoholic beverages and 440 of them said “yes”. Follow the steps below to construct a 90% confidence interval for the proportion of all adults who consume alcoholic beverages. a) State the value of the sample proportion. (Round to three decimal places) {#1} b) Find the critical value, \( z_{\alpha/2} \). (Round to three decimal places) {#2} c) Calculate the margin of error. (Round 2 decimal places) {#3} d) Using your values from parts (a) and (c), find the limits of the confidence interval. Lower Limit: {#4} Upper Limit: {#5}