Consider a small T-shirt manufacturer in Toronto

1. Consider a small T-shirt manufacturer in Toronto. They receive 120 meters of white cloth every morning to make T-shirts for a huge sporting event. The T-shirt making process consists of the following three steps: first cut {2 min}, then sew {3 min} and finally print logo {1 min}. To make one T-shirt 1.5 meters of white cloth is needed. The factory has three employees: one for each task.

a. What is the flow time to finish one T-shirt {ignoring time spent waiting in buffers between machines) in minutes? (5 points]

b. What is the maximum number of T-shirts that can be cut in one hour at the cutting station? (3 points]

c. What is the maximum number of t-shirts that can be printed with a logo in one hour at the printing station? {3 points}

d. Which stations are or are the bottleneck? (4 points)

e. What is the capacity of the system? {4 points}

f. How many more workers are needed to double the capacity of the system? {8 points}

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CASE STUDY: HAPPY FEET

CASE STUDY: HAPPY FEET Happy Feet is a family-owned business, that specializes in the manufacturing and retail selling of leather footwear. Their shoes are sold through 25 Happy Feet stores in malls in every province as well as in 47 pharmacies in South Africa. Manufacturing has been done in their factory in Cape Town for more than 30 years and they employ 310 people. Happy Feet is one of three comfort/health shoe manufacturers in South Africa specializing in high-quality comfort footwear and is dedicated to the promotion and maintenance of healthy feet. They manufacture infant sandals, ladies’ sandals and court shoes, and mens’ shoes and sandals. All the shoes are orthopedically designed and genuine leather is used which makes it expensive. The shoes compete with shoes that are mass-produced in countries like China and imported to South Africa. The imported shoes are available in most stores at much lower prices than leather shoes. Apart from the fact that several changes have occurred in the industry, the financial statements that were reported at the annual general meeting show a decline of 9% in shoe sales and a large decline in profit for the past financial year. Management views it as a very critical situation for the business. It is not the only problem that the management of Happy Feet is experiencing. Customers are complaining that some of the advertised shoes are not available and it has to be ordered from the factory, which is taking a long time most customers are willing to wait. This leaves the customers unhappy and shops assistants frustrated, resulting in unfriendly conduct towards the customers. These complaints were conveyed to management, but nothing was done about them. In a heated argument between the marketing and financial managers the proposed new marketing strategy was not approved.

1. Brainstorming is often used informally as a method of generating ideas, however specific guidelines, and procedures apply.
a) Discuss four (4) main important aspects to consider when planning a brainstorming session.
b) Name three (3) problems generally experienced when using brainstorming to generate ideas.

2. Generate ideas for Happy Feet using the final problem statement: What can management do to ensure that products are stocked as needed and that customer complaint are handled appropriately so that customers buy more products and sales increase?

> Use ONE of the following techniques to generate at least 5 ideas for Happy Feet.

-The mind map.
– SCAM3PER2.
– Morphological analysis

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general equilibrium analysis

Who gave the first scientific treatment of general equilibrium analysis

  1. Leon Walras

  2. J.B Say

  3. Edward Chamberlain

  4. K.E Boulding WRITE A THESIS 100% QUALITY GUARANTEE BUY A QUALITY 100 % ORIGINAL RESEARCH PAPER TODAY

Law of Demand

Which one is not an exception to the Law of Demand?

  1. Normal good

  2. Articles of Distinction

  3. Ignorance

  4. Inferior good HOW TO BEST AVOID PLAGIARISM 100% BUY A NEW 100% ORIGINAL COLLEGE PAPER EFFICIENTLY

function of managerial economist

Which of the following is not a function of managerial economist

  1. Analysis of under developed economies

  2. Capital project appraisal

  3. Advice on primary commodities

  4. None of these quality management 2 GET YOUR QUALITY 100% CUSTOM RESEARCH PAPER TODAY

functions of managerial economists

Which of the following is included in specific functions of managerial economists

  1. Economic analysis of competing companies

  2. Advice on pricing problems of industry

  3. Environmental forecasting

  4. All of the above BUY A QUALITY 100 % ORIGINAL RESEARCH PAPER TODAY WRITE MY ESSAY TODAY AT LESS THAN $15 AND BEST QUALITY

definition of economics

Welfare (neo classical) definition of economics is given by

  1. J B Say

  2. Lionel Robbins

  3. Adam Smith

  4. Alfred Marshall GET YOUR QUALITY 100% CUSTOM RESEARCH PAPER TODAY WRITE MY ESSAY TODAY AT LESS THAN $15 AND BEST QUALITY

 

inputs

A graph indicating different combination of inputs with different level of output is called

  1. Iso-cost map

  2. BEP map

  3. Input-output map

  4. Iso-quant map GET YOUR QUALITY 100% CUSTOM RESEARCH PAPER TODAY WRITE A THESIS 100% QUALITY GUARANTEE

production

Production may be defined as an act of:

  1. Creating utility

  2. Earning profit

  3. Destroying utility

  4. Providing services BUY A QUALITY 100 % ORIGINAL RESEARCH PAPER TODAY WRITE MY ESSAY TODAY AT LESS THAN $15 AND BEST QUALITY