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- 601 Ana Chavarria, front office manager at The Times Hotel, has completed a revenue management semi- nar at Keystone University and is preparing an argu- ment in favor of adopting this concept at The Times Hotel to present to Margaret Chu, the general man- ager. She begins by compiling a history of room occupancy and ADRS, which she hopes will reveal areas in which revenue management could help. She prepares an electronic spreadsheet that lists rooms sold with corresponding room rates and correlates the data to tourism activities in the area. Ana sends an analysis of revenue realized and revenue potential to Ms. Chu for review prior to their discussion After reviewing the analysis, Ms. Chu concludes, "This is just another scam; the industry is slow to adopt this," and disregards the entire report. She knows that occupancy percentage, ADR, and RevPAR are all you need to be efficient today, so why change? Ana passes Ms. Chu in the lobby, and Ms. Chu indicates her distrust of the revenue…WhatYouNeed is an online retailer with operations in Northern Indiana. Their network includes five big warehouses. All of the warehouses are fully automated: packaging is performed by robots on top of electric conveyors. Although the company has saved a lot in labor costs by the use of this packaging line, it has resulted in some excessive waste of material. After some analysis of this waste issue, the company has discovered that the number of product types that are assigned to the packaging line is strongly correlated with the amount of wasted material. Based on this insight, their operations manager has built a mathematical expression that estimates the expected amount of waste from the packaging line as a function of the number of product types in it. The expression is as follows: W = (n-93)2 – (n-88) + 227 In this expression, n is the number of product types you are packing on the line and W is the hourly waste of packaging material (in lbs). Based on this expression, what is the…WhatYouNeed is an online retailer with operations in Northern Indiana. Their network includes five big warehouses. All of the warehouses are fully automated: packaging is performed by robots on top of electric conveyors. Although the company has saved a lot in labor costs by the use of this packaging line, it has resulted in some excessive waste of material. After some analysis of this waste issue, the company has discovered that the number of product types that are assigned to the packaging line is strongly correlated with the amount of wasted material. Based on this insight, their operations manager has built a mathematical expression that estimates the expected amount of waste from the packaging line as a function of the number of product types in it. The expression is as follows: W = (n-93)2 – (n-88) + 227 In this expression, n is the number of product types you are packing on the line and W is the hourly waste of packaging material (in lbs). Based on this expression, how much will…
- Seaports are important in global supply chains. Their management plays an important part in minimizing waiting time for ships that visit seaports for loading and unloading cargo and port utilization. The Oakland seaport is a busy container seaport on the West coast of America, but it is a bit relaxed in the month of December. Based on the past data, it is observed that 6 ships arrive there, on an average, per day, and it takes 3 hours to unload a ship on an average, with a standard deviation of 4 hours. Determine the following: Minimum number of unlading facilities. Probability (each unloading facility is busy) Probability (each unloading facility is idle) Probability of 2 ships in the system and 4 ships in the system Average number of ships in the system, that is, number of ships in the line including the one being unloaded. Average number of ships waiting to be unloaded, that is, number of ships in the line excluding being unloaded. Average time a ship spends in the system, that…Knott's Berry Farm is contemplating buying a new van for its operations. The farm's engineering staff has researched the market and found 2 units that appear to meet their requirements. Truck # 1 has a cost of $37,000 and requires an annual maintenance cost of $2,700. At the end of its useful life (3 years), it is projected to have a salvage value of $5,000. On the other hand, Truck #2 has an initial cost of $40,000 and requires only $2,000 in annual operating costs because the manufacturer is claiming that some routine maintenance is covered in the price of the truck. Truck # 2 has an estimated salvage value of $8,000 at the end of its 4 year service life. The CEO has determined that the farm's MARR is 12%. The trucks are needed for 12 years according to the 2024 Strategic Plan. The Engineering Department has determined that no significant changes are needed in the future that would change prices and functional characteristics of each truck. As a member of the Engineering Department,…Indian Airways knows from past data that for a particular route, an average of 25 business customers (with a standard deviation of 15) cancel their bookings and do not show up for the flight. The revenue per ticket is INR 12,500. If the flight is overbooked, the airline has a policy of getting the customer the next available flight, as well as a free round trip ticket, the cost of which is USD 25,000. By how many seats should the airline overbook its flight (round up the value)? Provide the calculation. Answers should be in a Microsoft Word/Microsoft Excel file and include calculations wherever necessary to justify your answer.
- Which of the following functions is not done by WMS: Select one: a. Shipping and receiving b. Route optimization c. Order picking and fulfilment d. Inventory trackingThe following data pertains to Slide Corp.’s: (use 360 days/year) Slide Corp.’s payment to suppliers Slide Corp.’s collection from customers Processing Delay 4 days Processing Delay 2 days Clearing Delay 1 day Clearing Delay 24 hours Mail time 1 week Mail time 4 days Slide Corp.’s daily collection average P1,800 while average daily payment is P2,700. How much is the average daily disbursement float? How much is the average daily collection float? How much is the net float? If the cash can be readily invested in instrument earning 6%, how much is the daily cost of collection float?Compute MAD, MSE, and MAPE for the following data, showing actual and forecastednumbers of accounts serviced.
- Tuff-Rider, Inc., manufactures touring bikes and mountain bikes in a variety of frame sizes, colors, and component combinations. Identical bicycles are produced in lots of 100. The projected demand, lot size, and time standards are shown in the following table: Item Touring Mountain Demand forecast Lot size Standard processing time Standard setup time 5,000 units/year 100 units .25 hour/unit 2 hours/lot 10,000 units/year 100 units .50 hour/unit 3 hours/lot The shop currently works 8 hours a day, 5 days a week, 50 weeks a year. It operates five workstations, each producing one bicycle in the time shown in the table. The shop maintains a 15 percent capacity cushion. How many workstations will be required next year to meet expected demand without using overtime and without decreasing the firm’s current capacity cushion?The average waiting time of customers over 10 replications obtained from a termination simulation model is shown below Replication / Average waiting time 1 / 3.90 2 / 1.18 3 / 4.88 4 / 4.21 5 / 1.83 6 / 3.77 7 / 1.7 8 / 2.92 9 / 2.39 10 / 2.70 Use alpha = 0.05 for following questions, if needed a) what is the minimum number of sample size required, if the error criterion is 0.75?Tuff-Rider, Inc., manufactures touring bikes and mountain bikes in a variety of frame sizes, colors, and component combinations. Identical bicycles are produced in lots of 110. The projected demand, lot size, and time standards are shown in the following table: Item Touring Mountain Demand forecast 4,000 units/year 12,000 units/year Lot size 100 units 110 units Standard processing time 0.25 hour/unit 0.50 hour/unit Standard setup time 2 hours/lot 3 hours/lot The shop currently works 8 hours a day, 5 days a week, 52 weeks a year. It operates five workstations, each producing one bicycle in the time shown in the table. The shop maintains a 15 percent capacity cushion. How many workstations will be required next year to meet expected demand without using overtime and without decreasing the firm's current capacity cushion? The number of workstations required next year is ?(Enter your response rounded up to the next whole number.)
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