OPS MGMT Quiz

Joe’s Beer, Bait, & Tackle Co.Joe’s Beer, Bait, & Tackle Co. is a small chain of fishing tackle stores in northern Minnesota. In 2009, the company’s revenue was $4,300,000 and its cost of goods sold was $3,200,000. Assume 52 weeks and 365 days per year. Assume that the annual inventory holding cost for Joe’s is 40%.Q: What is the inventory holding cost (in $) of an item that costs Joe $20 and is sold to his customers at $30? (Round you answer to two decimal places)B&K Consulting (Q4-Q6)B&K is a strategy consulting firm that divides its consultants into three classes: Associates, Managers, and Partners. The firm has been stable in size for the last 30 years, ignoring growth opportunities in the 90s, but also not suffering from a need to downsize in the recession at the beginning of the 21st century. Specifically, there have been – and are expected to be – 200 Associates, 60 Managers, and 20 Partners.The work environment at B&K is rather competitive. After four years of working as an Associate, a consultant goes “either up or out”; that is, becomes a Manager or is dismissed from the company. Similarly, after working as a Manager for six years, a Manager either becomes a Partner or is dismissed. The company recruits MBAs as Associates; no hires are made at the Manager or Partner level.Q4. How many new MBA graduates does B&K have to hire every year?Q5. What is the probability (in %) that a new hire at B&K will become a Manager (as opposed to being dismissed after 4 years of working as an Associate)?Q6. Every year 2 Managers are promoted to Partner level. How many years on average does a Partner stay in the company?Howard County Hospital (Q7-Q9)The Howard County Hospital is assessing its Emergency Department (ED) capacity so it knows how to expand as the county population grows. The hospital has the following information about the ED:ResourceNumberNurses12Physicians5X-ray Technicians4Examination rooms10Trauma bays3On average, nurses need to spend 35 minutes with each patient that comes in. Additionally, physicians need to spend an average of 19 minutes with each patient. Each technician can X-ray up to 5 patients per hour. All patients have to go through one nurse, one physician and the X-ray.Q7. What is the total capacity of Nurses, as in the maximum number of patients the Nurses can see in one hour? Round your answer to one decimal place.Q8. What is the total capacity of Physicians, as in the maximum number of patients the Physicians can see in one hour? Round your answer to one decimal place.Q9. What is the total capacity of the X-Ray Technicians (max number of patients that can be X-rayed in one hour)? Round your answer to one decimal place.Howard County Hospital (Q10-Q13)The Howard County Hospital is assessing its Emergency Department (ED) capacity so it knows how to expand as the county population grows. The hospital has the following information about the ED:ResourceNumberNurses12Physicians5X-ray Technicians4Examination rooms10Trauma bays3On average, nurses need to spend 35 minutes with each patient that comes in. Additionally, physicians need to spend an average of 19 minutes with each patient. Each technician can X-ray up to 5 patients per hour. All patients have to go through one nurse, one physician and the X-ray.Thereafter, the patients are parsed into two categories: 20% of all patients that come into the ED are trauma victims that need to be placed in a trauma bay. The other 80% of the patients go into normal examination rooms. Each trauma patient spends an average of 30 minutes in a trauma bay before leaving the ED (usually then being admitted to the main part of the hospital), whereas non-trauma patients spend an average of 45 minutes in an examination room before leaving the ED.Q10. Suppose on average 50 patients come to the emergency department every hour. What is the implied utilization (in %) at the trauma bays? (Recall there are 3 trauma bays.)The Howard County Hospital is assessing its Emergency Department (ED) capacity so it knows how to expand as the county population grows. The hospital has the following information about the ED:ResourceNumberNurses12Physicians5X-ray Technicians4Examination rooms10Trauma bays3On average, nurses need to spend 35 minutes with each patient that comes in. Additionally, physicians need to spend an average of 19 minutes with each patient. Each technician can X-ray up to 5 patients per hour. All patients have to go through one nurse, one physician and the X-ray.Thereafter, the patients are parsed into two categories: 20% of all patients that come into the ED are trauma victims that need to be placed in a trauma bay. The other 80% of the patients go into normal examination rooms. Each trauma patient spends an average of 30 minutes in a trauma bay before leaving the ED (usually then being admitted to the main part of the hospital), whereas non-trauma patients spend an average of 45 minutes in an examination room before leaving the ED.Q11. Suppose on average 50 patients come to the emergency department every hour. What is the implied utilization at the examination rooms (in %)? (Recall there are 10 examination rooms.)Q12. Which resource is the bottleneck?a) Nursesb) Physiciansc) X-Ray Techniciansd) Examination Roomse) Trauma BaysThe Howard County Hospital is assessing its Emergency Department (ED) capacity so it knows how to expand as the county population grows. The hospital has the following information about the ED:ResourceNumberNurses12Physicians5X-ray Technicians4Examination rooms10Trauma bays3On average, nurses need to spend 35 minutes with each patient that comes in. Additionally, physicians need to spend an average of 19 minutes with each patient. Each technician can X-ray up to 5 patients per hour. All patients have to go through one nurse, one physician and the X-ray.Thereafter, the patients are parsed into two categories: 20% of all patients that come into the ED are trauma victims that need to be placed in a trauma bay. The other 80% of the patients go into normal examination rooms. Each trauma patient spends an average of 30 minutes in a trauma bay before leaving the ED (usually then being admitted to the main part of the hospital), whereas non-trauma patients spend an average of 45 minutes in an examination room before leaving the ED.Q13. Suppose we hired one more physician so that the total number of physicians becomes 6. What will be the capacity of the process, as in the maximum number of patients the Emergency Department can treat in one hour? Round your answer to one decimal place

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