Do not copy the example. It is only to show you the format
Format for each question:
Step5: Learn and Generalize
- You must work on this by yourself, without any collaboration of any kind, including on-line sources.
- You need to work with the data (numerical information) provided in the Final Exam document on Canvas. If you work with data that is different from the data provided in the final exam document, then we would regard this as “highly irregular” behavior, and give you a score of zero for the final, with a request to meet with us in -person during the first week of the quarter in order to resolve the “irregularity.”
- Final Exam, Prob. #3 (Cycle Inventory):You are asked to calculate the optimal lot-size and cycle inventory. You will using the data from Problem 4 of the midterm, except for the holding cost, h, which is now h=0.20.
- Final Exam, Prob #4 (Safety Inventory): (a) you will need the expected or forecasted value of the annual demand, D, for the Year 2007, from your midterm exam solution; (b) If you know the expected (forecasted) annual demand, and the number of weeks in a year, then you can easily calculate the expected or mean weekly demand; (c) if you know the expected or mean weekly demand, and the coefficient of variation, cv, then you can easily calculate the standard deviation of the weekly demand. (The coefficient of variation was defined in the class notes on safety-inventory, and is also defined in the text-book.); (d) you now know the weekly demand statistics (mean weekly demand, std. deviation of weekly demand), and can proceed to do the problem using all the information provided in the problem statement.
- Problem #5 (Sourcing/Supplier Selection): Refer to Section 4 (Supplier Scoring and Assessment) of the chapter titled “Sourcing Decisions in a Supply Chain), and carefully study Worked Example 1 (Comparing Suppliers based on total cost) in this section. You are now ready to tackle (work on) this problem.
- Problem # 6 (Transportation): (a) this is an open-ended problem, where you need to be both creative and practical; (b) keep in mind that 1 unit of polystyrene resin weighs 1000 pounds; (c)create a process for exploring various modes of transportation (Step 1 in the 5-step process in the Transportation lecture on Canvas, and Section 5 in the Transportation chapter in the textbook); (d) it might also be helpful to study carefully Worked Example 1 in Section 5 of the Transportation chapter in the textbook