1)The standard time at Lensco Inc for grinding a set of prescription lenses is 18 minutes. If the typical efficiency for their operations is 80%, and typical machine reliability is 87% how many machines are required to meet the forecast of 17,247 lens sets for 2007? (They currently work 7.2 hour/shift, 6 shifts per week, 50 weeks per year)?
2)The textbook discusses the hamburger production processes used by McDonalds, Wendy's and Burger King. Which system seems to have the best labor productivity? Which one has the worst? Explain your thinking for each answer.
3)Vertical Integration and global sourcing are popular current and complementary strategic techniques employed by many businesses.
4)A company with low equipment utilization probably also has poor capital productivity.
5)High inventory holding cost can lead to low EOQ values.
6)A fixed time period inventory model is based on ordering a predetermined quantity of inventory each time stock runs low.
7)Fredrick Taylor invented interchangeable tooling and popularized timestudy as a productivity tool.