5.) Name all of the functions of inventory from your textbook.How are these functions affected by lead time, specifically whetherlead times are very long, or relatively short? How does anincrease, or decrease in lead time affect inventory carryingcost?
6.) Identify a project that you are interested in other than thefundraiser or job search we worked on in class. Identify the majorsteps of this project, and which of these are on the critical path.Then show the last step of the project and estimate the total timefor the project. Use figure 17.3 from your textbook and Table 17.2to help develop your answer. NOTE: Estimating the total projecttime will require developing a general understanding of what needsto be done between the first steps and the last step.
7.) If you were an operations manager for an organization(service or manufacturing) with at least 1,000 employees what threestrategies would you use to make the operation as successful aspossible? What is your rationale for each of the three strategies?What is one thing that might go wrong with each of these threestrategies? Approach this question by first identifying a specificbusiness, or type of business. (Note that if you are managing 1000employees there will be a number of levels between you and thelower level employees. This is an operations question – so theresponse is related to operational challenges – not sales,marketing, finance, or accounting). Do not use Apple, Cargill, orWalmart.
8.) You are the owner of a small manufacturing company with 300employees. What would be your top 5 operational strategies formaking your company successful. (Do not use marketing, sales,accounting, or finance strategies). Give two specific reasons forchoosing each of these five strategies (10 totalreasons/justifications). Finally, give three reasons why youbelieve – not feel – these strategies would lead to success.
