Questions APA format only
1) Discuss the three financial measures a firm uses to determine its ability to make money.
2) You are responsible for an operation that has 12 distinct jobs. Seven of those jobs must be processed in two operations. All seven jobs must go through D and E in that sequence, i.e., D first and then E. Determine the optimal order in which the jobs should be sequenced through the process using the following times:
|Job||Process D Time||Process E Time|
Your response should be at least 75 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
3) A machine shop has two machines, A and B. Four jobs need to be processed through machine A first and B second. Job 1 will take one hour on machine A and three hours on machine B. Job 2 will take three hours on A and two hours on B. Job 3 will take seven on A and three on B. Job 4 will take five hours on A and one hour on B. Using Johnson’s rule, in what order should these jobs be done?
4) Discuss the most common approach to determining the appropriate run length of a simulation.
5) A work center has five jobs assigned to it. They are labeled, in the order of their arrival in the shop, as jobs A, B, C, D, and E. The work center may work on only one job at a time and must complete any job it starts before starting another job. Job A has a processing time of 6 days and is due to the customer in 9 days. Job B has a processing time of 2 days and is due in 16 days. Job C has a processing time of 4 days and is due in 10 days. Job D has a processing time of 3 days and is due in 7 days. Job E has a processing time of 5 days and is due in 12 days. Using the earliest due date (EDD) priority rule, what will be the average lateness of these orders?
6) What is the role of judgment and evaluation in simulation?
7) As described in the textbook, validation of a simulation involves insuring that the simulation yields “correct” results when compared to the results of the actual real-world system. If this is so, why run simulations at all? Why not just use the results of the actual situation which we obviously already know?
Word count for each question is 75 minimum.