Carlisle Tire and Rubber, Inc., is considering expanding production to meet potential increases in the demand for one of its tire products. Carlisle's alternatives are to construct a new plant, expand the existing plant, or do nothing in the short run. The market for this particular tire product may improve, remain stable, or contract. The table below presents the payoff matrix. Improve Remain stable Contract Construct a new plant $400,000 -$100,000 -$200,000 Expand existing plant $250,000 -$50,000 -$75,000 Do nothing $50,000 $0 -$30,000 Considered the problem statement and data table above. Under the Minimax Regret decision rule, the optimal decision is [Select] Y.The corresponding value for the optimal decision is [Select]

The Town of Broomville, along with local arts and athletic groups, decided to erect a new community centre for sports, music, and theatre. The total estimated cost was $18,000,000 in April. Jane Borkus, president and CEO of the largest local industry. Autotech, promised to match every dollar raised through other donors, up to $9,000,000. Both she and the delighted town mayor, Geoff Johns, made the announcement over the local television station and in a joint statement in the town's newspaper. Borkus said the deadline would be 12 months. The following January, the campaign was proceeding extremely well; other donors had pledges $5,500,000 and Borkus presented a cheque for $4,000,000 as Autotech's "down payment and pledge of good will." Unfortunately, in March, Autotech lost its major contract to supply car parts to one of the big three auto manufacturers. Anticipating a large loss at year's end, Borkus withdrew the pledge and asked for the return of the down payment. Broomville will…

Scenario 8.3- Mousetraps A company faces the aggregate planning problem shown in the table below. Cost of regular production is $15 per unit, the cost of producing the same unit on overtime is $22.50, the cost subcontracting is $27 per unit, and the cost of carrying a unit in inventory from one month to the next is $10. Forecast Beginning Inventory Regular Time Overtime Subcontracting Ending Inventory The labor contract at the plant prohibits both overtime and subcontracting output to exceed 250 units in any five-month window. The plant capacity is 20 units per day produced using two shifts and the plant runs seven days a week. By policy, management wants to avoid stockouts. August Which month has a positive ending inventory for the optimal aggregate plan for Scenario 8.3? September July 800 140 O October August September October November 650 450 550 900 November

A producer of pottery is considering the addition of a new plant to absorb the backlog of demand that now exists. The primary location being considered will have the following cost structures as shown in the table. The producer knows there is a big order or order contract that will be awarded by the giant retail WalWal. The producer is not certain as what capacity production is to produce. It all depends on WalWal’s contract. The producer has also been informed, the first batch of pottery is required to ship in a very tight time frame from the first production run. The producer decides to plan ahead and select the best production process to set up for manufacturing.    Process 1 Process 2 Process 3 Ann. Fixed Cost $ 7,017 9,035 14,251 variable cost $/unit 1.05 0.78 0.63 The producer wants you to help them to identify at what range of production quantity (Q) for Process 1, Process 2, and Process 3 is best to adopt.Enter Q range with whole number and use…

There are many drivers influencing the offshoring decision. Selecting a dominant driver is the key to a success of an offshoring venture. Supposed your Boston company is planning to develop, manufacture and market a line of luxurious clocks. Several offshoring options are being evaluated. Here is the list of offshoring and internal candidates along with their corresponding engineering hourly burden rates: Shanghai ($20) St. Petersburg  ($45) Dallas ($85) Honolulu ($120) Berlin ($200) Zurich ($300) After the first round of various considerations and responding to RFPs (Request for Proposals), China, Russia, Texas and Hawaii dropped out.  An extensive second round resulted in Swiss winning the contract. Of the following four key drivers, which one is the most probable dominant factor at the top of the list of the decision making?     to get a shot at even a small chance on a global market, you must hire the best possible people, the strongest talent... and forget about any other…

Fort Wayne Plastics Inc is trying to develop a plan for its workforce and production levels for the six-month period from January to June. The firm produces plastic components. Forecast demands over the next six months are 1,304, 633, 809, 1,175, 2,146, and 1,373. There are currently (end of December) 347 workers employed in the plant. Ending inventory in December is expected to be 461 units, and the firm would like to have 575 units on hand at the end of June. The cost of hiring one worker is $546. The cost of firing a worker is $900. The cost of holding one unit of inventory for one month is $60. In the past, the plant manager observed that over 21 working days, with the workforce level constant at 76 workers, the firm produced 233 plastic components. The number of working days per month from January to June for this year is 26, 25, 25, 17, 22, 17. Find the optimal production per month as well as the corresponding optimal cost for this plan. P1 Number P2= Number P3 Number P4 Number…

Case stady: Global Village: A tourist attraction Global Village is the region’s leading family outdoor cultural and entertainment destination and one of Dubai’s most exciting and unique annual tourism and cultural destination. The theme park offers a vast selection of multicultural entertainment and retail options. Launched in 1997, Global Village made its entrance on the Creek Side opposite Dubai Municipality, and later moved to Oud Metha and then Dubai Festival City, until it found a permanent home on the outskirts of Dubai Land in 2005. Over the past 17 years, Global Village has been providing cultural entertainment along with an international shopping experience to millions of visitors. From hosting 18 country pavilions in 1997, Global Village has expanded over the years to now include over 37 pavilions, with added entertainment and culinary attractions with every season. Apart from this breathtaking live performances, mouth-watering cuisine, authentic handicrafts and merchandise…

Currently, none of the company’s competitors has a production facility in Latin America. To reach this untapped market, the chief executive officer (CEO) is considering opening an additional manufacturing facility in Latin America. The operations management team has been directed to analyze the factors (including global) that need to be considered when deciding where to locate a new facility and report the recommended factors for consideration to the CEO. The team will also need to analyze how a life cycle assessment will help the company reduce its ecological impact, including making a case to the CEO that the benefits are worth funding the effort. How will a furniture company Increase its customer base in the untapped Latin American market? Reducing the company’s ecological footprint? Reducing production cost and Enabling multicultural collaboration opportunities between the operation’s functional teams (marketing and sales, finance, and operations) in the U.S. and Latin America…

Below are instructions for Wilson hotel  Michael Wilson entered into a new business, hotel ownership, by buying a small 24 room hotel and café. The hotel is located in a remote area of Minnesota that is popular for tourists. Michael has hired you for advice. Michael hired a young couple to run the hotel and café on a daily basis and plans to pay them a monthly salary. They will live for free in a small apartment adjacent to the office. The couple will be responsible for hiring and supervising five part-time personnel who will help with cleaning the rooms, cooking, waiting on customers in the café. The couple will maintain records of rooms rented, meals served, and payments received. They will also make weekly deposits. Mike is concerned about his lack of control over the records and operations. Mike lives 5 hours away and will only be able to make periodic visits. Mike trusts the couple but wonders if it makes sense to place so much trust in employees. Mike needs your help to identify…

Hello please help me answer the following question: ACME Corporation is developing a new innovative product to launch the product, monthly fixed costs are set at $152,243. Variable costs are set at $23. They desire to break even by selling 19,416 units. Given the above details, what should the price be for Break Even to occur at 25,000 units?