Operation Management M3 Assignment Solution - University Name
VerifiedAdded on  2022/09/18
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Homework Assignment
AI Summary
This document presents a comprehensive solution to an Operation Management assignment, addressing key concepts in inventory management and scheduling. The solution begins with an analysis of Economic Order Quantity (EOQ), reorder points, and safety stock calculations, considering factors like demand, order costs, holding costs, lead time, and desired service levels. The assignment then delves into scheduling methods, comparing First Come First Served (FCFS) and Earliest Due Date (EDD) approaches, and evaluating their impact on flow time and lateness. Finally, the solution explores a case study involving loan processing, calculating the required staff hours for different stages of the process to meet deadlines, and determining resource allocation. The solution provides detailed calculations, explanations, and tables to support the findings. The assignment covers topics like EOQ, reorder points, inventory management, FCFS, EDD, and scheduling.
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