Case: UPD Manufacturing

Given,

Demand, d = 6
Ordering Interval, OI = 89
Ordering cost, S = $32
Holding Cost/Carrying Cost, H = $.08

As there is no demand variability, the formula for quantity is: Q = d (LT + OI) – A
(as there is no safety stock) ------- A - ROP (Reorder point) We know, A = d * LT, so the fixed order interval order quantity equation Q becomes

Q = (d * LT) + (d * OI) – (d * LT) * Q = d * OI = (6) (89) = 534 units Therefore, ordering at six-week intervals requires an order quantity of 534 units. Now, the optimal order quantity is determined by using EOQ equation. Q = sqrt(2dS/H) = sqrt[(2*89*32)/.08] = 266.833 (or) 267

The weekly total cost based on optimal order quantity EOQ is given …show more content…

Advantages a) Organizational Change
Project time management is recognized as an effective means to bringing about sudden change within an organization. "Research indicates that 76 percent of C-level executives across the globe attribute successful change management initiatives to effective project management," writes project management consultant Rita Mulcahy in a white paper produced by RMC Project Management, Inc. As a result, executive-level strategic planning within an organization frequently includes project management as a vehicle for achieving business goals. b) Cost Savings
Generally, project teams are working smarter, not harder. Use of the project time management discipline provides cost benefits to companies. The focus on a single goal or limited goals provides a compelling process for saving both money and time. Its efficient procedures promote teamwork and communication toward achieving specific, measurable business goals in a short time period. c) Methodologies
Project time management's assessment and monitoring features have created useful methods for evaluating proposed projects. Project managers are able to quickly determine whether a new project is ill-conceived, in part, based on past project reporting within an organization and insights gained from experienced project teams. Additionally, management literature includes significant benchmark reporting of project management best practices related to issues such as control system for process