Please read the following concerning all homework:

1. When submitting by email, remember to use the naming convention detailed in the syllabus. For online assignments, Word, Excel, or both types of documents can be submitted.

2. Please include a cover sheet with your name and date, that includes online submissions (I use this for making comments and grading).

3. Include section headers such as Introduction, Analysis, & Recommendations within your summary for the problem.

4. Answer the problems as completely as possible. Neatness, accuracy, and overall clarity of work are important. Full credit will only be given for problems, which include the aforementioned items. I am looking for process and methodology not necessarily one correct answer.

5. Submit homework by the due date and time.

Remember: You are telling a "story" in the attempt to win a contract from a client, do your best to tell the story, win the contract, and get paid (or in this case get an excellent grade!)
 

Please submit the following problems:

The same instructions apply for all homework problems. It is vitally important that you do a good job defining the problem, stating assumptions, explaining your analysis, feel free to use graphs, tables, and/or any other means to get your point across. Simply writing an answer down is woefully inadequate (i.e., you will receive no points).

Please submit the following problems:

TAKE NOTE: THERE ARE TWO PARTS TO THIS HOMEWORK - THE PAIRED ASSIGNMENT AND THE INDIVIDUAL ASSIGNMENT, BOTH MUST BE COMPLETED AND SUBMITTED

Paired Assignment

I will be assigning two unique problems to the class. I will pair off students in the class (note, maybe one group has three and if your partner does not respond just send me your work and you will receive credit). One person will do one of the problems and the other person will do the other problem. Each pair of students will then be required to converse via the Discussions section in Canvas and comment on the other persons work. I expect at least four posts for each pair of students (2 per each student=4).

This exercise is to enhance interaction between you and your colleagues as well as foster interaction between the professor and all students. This exercise will be weighted 10% of the Homework #1 grade and those who complete the problems and discussion session will receive full credit for this portion of Homework #1.

CLICK HERE FOR THE PAIRINGS FOR HOMEWORK

To complete the assignment, go into the Discussions section in Canvas, create a thread, and with the classmate you are paired with exchange a greeting. Second step, watch the video clip and complete the Questions for Thought listed by the movie clip (i.e., either Problem A or B) and post your Questions for Thought in the Discussions section in Canvas.  Finally, within the Discussions section in Canvas, comment on your classmate's work (these comments can be very simple and straightforward, such as "looks good" or "nice comments").

You must post to the Discussions section in Canvas to receive full credit for this part of the assignment. I will be monitoring the discussion posts so I will be aware if you cannot get through to your assigned classmate or if the assigned classmate chooses not to respond or participate. Anyone not participating or responding will receive a zero for this portion of the assignment. Those making a "good faith" effort but get no response will receive credit.

Please email me if you do not understand or need assistance.

Individual Assignment:  Just-in-Time Inventory Management

Jen knows there is a balance between holding costs and setup/ordering costs behind inventory.  She knows her inventory at times is bloated and sends annual holding costs skyrocketing.  She also knows at times she has to make emergency orders which are many times smaller than normal and tend to drive up setup/ordering costs.  Her inventory manager has told her that economic order quantity (EOQ) may assist at balancing holding costs versus setup/ordering costs.  She got some new information (demand, holding costs, setup/ordering cost) from her inventory manager on a product and wanted to study what happens to the EOQ model as setup/ordering costs change.  The informaiton is contained in Table 1.1

Table 1.1

Use the EOQ model to assist Jen in finding the economic order quantity for each trio of Demand, Setup/Ordering Costs, and Holding Costs.  Compare the EOQ values for each trio and create a bar graph to show what occurs as Setup/Ordering Costs decline.  Discuss what is happening in your graph and what is occuring with the model.  Assume there are 350 working days for Jen's organization.