1.Change is triggered by environmental & internal disruptions
(Occurs because of industry discontinuities, lifecycle shifts, internal company dynamics)
2.Change is initiated by senior executives & line managers
(Executive leadership must triple E - envision, energize, and enable)
3.Change involves multiple stakeholders
4.Change is systemic & revolutionary
5. Change involves significant learning & a new paradigm
(Organizations undertaking transformational change are by definition undertaking at least a 2nd-order or gamma change - involving discontinuous shifts in mental or organizational frameworks)
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Course 15 (Version 1) Set B Volume 1 Chapter 7
Terms in this set (56)
ADVANCED MATH
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ADVANCED MATH
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ADVANCED MATH
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ADVANCED MATH
Shoeco must meet (on time) the following demands for pairs of shoes: month 1—300; month 2—500; month 3— 100; and month 4— 100. At the beginning of month 1, 50 pairs of shoes are on hand, and Shoeco has three workers. A worker is paid $1,500 per month. Each worker can work UP to 160 hours per month before receiving overtime. During any month, each worker may be forced to work up to 20 hours of overtime; workers are paid$25 per hour for overtime labor. It takes 4 hours of labor and $5 of raw material to produce each pair of shoes. At the beginning of each month, workers can be hired or fired. Each hired worker costs$ 1,600. and each fired worker costs $2,000. At the end of each month, a holding cost of$30 per pair of shoes is assessed. Formulate an LP that can be used to minimize the total cost of meeting the next four months’ demands. Then use LINDO to solve the LP. Finally, use the LINDO printout to answer the questions that follow these hints (which may help in the formulation.) Let xt = Pairs of shoes produced during month t with non overtime labor ot = Pairs of shoes produced during month/with overtime labor it = Inventory of pairs of shoes at end of month t ht, = Workers hired at beginning of month t fj = Workers fired at beginning of month t wt, = Workers available for month t (after month/hiring and firing) Four types of constraints will be needed: Type 1 Inventory equations. For example, during month 1, i1, = 50 + x1 + o1 − 300. Type 2 Relate available workers to hiring and firing. For month 1, for example, the following constraint is needed: wi, = 3 + h2 – f1 Type 3 For each month, the amount of shoes made with non overtime labor is limited by the number of workers. For example, for month 1, the following constraint is needed: 4x1 ≤ 160w1 Type 4 For each month, the number of overtime labor hours used is limited by the number of workers. For example, for month 1, the following constraint is needed: 4(o1) ≤ 20w1 For the objective function, the following costs must be considered: 1. Workers’ salaries 2. Hiring costs 3. Firing costs 4. Holding costs 5. Overtime costs 6. Raw-material costs a. Describe the company’s optimal production plan, hiring policy, and firing policy. Assume that it is acceptable to have a fractional number of workers, hirings, or firings. b. If overtime labor during month 1 costs $16 per hour, should any overtime labor be used? c. If the cost of firing workers during month 3 were$1,800, what would be the new optimal solution to the problem? d. If the cost of hiring workers during month 1 were $1,700, what would be the new optimal solution to the problem? e. By how much would total costs be reduced if demand in month I were 100 pairs of shoes? f. What would the total cost become if the company had 5 workers at the beginning of month 1 (before month 1 ’s hiring or firing takes place)? g. By how much would costs increase if demand month 2 were increased by 100 pairs of shoes?
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