Microeconomic Homework Assignment

Chapter 13 – Discussion Question # 3, page 539: Define aggregate planning – Also known as aggregate scheduling is concerned with determining the quantity and timing of production for the intermediate future, often from 3 to 18 months ahead. Chapter 13 – Discussion Question # 5, page 539: List the strategic objectives of aggregate planning. Which one of these is most often addressed by the quantitative techniques of aggregate planning? For manufacturers, the aggregate schedule ties the firm’s strategic goals to production plans, but for service organizations, the aggregate schedule ties strategic goals to workforce schedules.

Four things are needed for aggregate planning: – A logical overall unit for measuring sales and output, such as pounds of Doritos at Frito-Lay, air-conditioning units at GE, or cases of beer at Anheuser-Busch. -A forecast of demand for a reasonable intermediate planning period in these aggregate terms. -A method for determining the relevant costs. -A model that combines forecasts and costs so that scheduling decisions can be made for the planning period. Which one of these is generally the most important?

Scheduling Decisions

Chapter 14 – Discussion Question # 12, page 576: Identify five specific requirements of an effective MRP system.

1. Master production schedule (what is to be made and when) 2. Specifications or bill of material (materials and parts required to make the product) 3. Inventory availability (what is in stock) 4. Purchase orders outstanding (what is on order) 5. Lead times (how long it takes to get various components) Chapter 14 – Discussion Question # 13, page 576: What are the typical benefits of ERP? Allows companies to automate and integrate many of their business processes, share a common database and business practices throughout the enterprise, and produce information in real time.

It also reduced transaction costs and fast, accurate information. Chapter 15 – Discussion Question # 4, page 610: Name five priority sequencing rules.

Explain how each works to assign jobs. First come, first served (FCFS): or first in, first out (FIFO): Jobs are sequenced in the order in which they arrive at the work station – Earliest due date CEDE): Jobs are sequenced in the d L which they are due for delivery to the – Shortest processing time (SPT): Jobs are sequenced in order of the processing time required at the work station, with the job requiting the least processing time at the work station scheduled first. – Longest processing time (LOT): Jobs are sequenced in order of the processing time required at the work stations with the job requiring the longest processing time at the work station scheduled first. – Critical ratio (CR): Jobs are sequenced in order of increasing critical ratio (the ratio of time required by work left to be done to time left to do the work)

Chapter 15 – Discussion Question #12, page 610: What are the advantages to finite capacity scheduling? By providing the scheduler with interactive computing and graphic output.

Chapter 15 – Problem #15.4, page 615: JC Howard’s medical testing company in Kansas wishes to assign a set of jobs to a set of machines. The following table provides the production data of each machine when performing the specific job: MACHINE _ JOB A B C D 1 7 9 8 10 2 10 9 7 6 3 11 5 9 6 4 9 11 5 8

(a) Determine the assignment of jobs to machines that will maximize total production.

(b) What is the total production of your assignments?

Chapter 16 – Discussion Question # 1, page 643: What is JIT? Meaning Just-in-time I an approach of continuous and forced problem solving via a focus on throughput and reduced inventory. Chapter 16 – Discussion Question # 7, page 643: How does TPS (Toyota Production System) contribute to competitive advantage? TPS contributes to competitive advantage through: suppliers, layout, inventory, scheduling, preventive maintenance, quality production, employee empowerment, commitment of management and employees TPS emphasizes employee learning and empowerment in an assembly-line environment.

Chapter 16 – Discussion Question # 8, Page 643: What are the characteristics of just-in-time (JIT) partnerships with respect to suppliers? JIT partnering with suppliers; few suppliers; nearby suppliers; repeat business with the same suppliers; analysis to enable desirable suppliers to become/stay price competitive; competitive bidding mostly limited to new purchases; buyer resists vertical integration and subsequent wipeout of supplier business; and suppliers are encouraged to extend JIT buying to their suppliers.


Heizer, J. and Render, B. (2011). Operations Management (10th ed.). Upper Saddle River, NJ. Pearson Education Inc. Ch. 13, 14, 15, 16

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Boom Grades
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
english comp
Thank you for all your hard time.
Customer 452509, June 27th, 2021
Thank you so much this looks great !!!!
Customer 452585, November 4th, 2023
Religious studies
I recommend this service they always help. I got an A in this project thanks.
Customer 452507, October 5th, 2021
Classic English Literature
Awesome Job... you are the best!
Customer 452531, November 27th, 2021
Absolutely LOVE having help especially from the person who wrote this last one. THANK YOU
Customer 452529, November 19th, 2021
English comp
Got a 94% thank you!
Customer 452509, June 27th, 2021
english comp
Great paper and done before the deadline. Thank you
Customer 452509, June 15th, 2021
world civilization
Thank you for the quick response
Customer 452509, June 27th, 2021
Public Health
Thank you so much !!
Customer 452589, November 28th, 2023
Classic English Literature
Great Work as Usual. Thank you . I received an A on the paper!
Customer 452531, November 9th, 2021
Exercise Science
Thank you so much for your time.
Customer 452545, December 5th, 2021
Classic English Literature
Absolutely LOVE the essay I received. I really appreciate it so much.
Customer 452529, October 25th, 2021
Customer reviews in total
Current satisfaction rate
3 pages
Average paper length
Customers referred by a friend
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat