BUS 660 Full Course GCU
BUS 660 Full Course Discussions GCU
BUS 660 Topic 1 DQ 1
Apply a business decision model to something you do every day, such as selecting an outfit, ordering lunch, or determining your exercise routine. Be creative in your approach. How did you select the model? Include rationale with support from the readings.
BUS 660 Topic 1 DQ 2
Create a decision tree for the scenario you outlined in Topic 1 DQ 1. Attach the decision tree to your response and include insights into how you crafted it. How would you apply this decision-making experience to larger scale decisions at an organizational level?
BUS 660 Topic 2 DQ 1
Discuss the strategic importance of forecasting at your organization (or in one with which you are familiar). Provide two examples of ways that forecasting could improve organizational processes or strategic decisions. Support your rationale with evidence from the readings or external research.
BUS 660 Topic 2 DQ 2
Explain how error measures can help to optimize moving averages, weighted moving averages, and exponential smoothing methods.
BUS 660 Topic 3 DQ 1
Identify two key strategic decisions made by your current team, department, or organization. How could those decisions have been enhanced by optimization models? Support your rationale with evidence from readings or external research.
BUS 660 Topic 3 DQ 2
Find a current example of a linear optimization model used in your industry. Describe the industry’s needs, including any unique factors, how the linear optimization model was used, and the problem or challenge it addressed. Would you suggest a different model be used? Why or why not? Support your response with rationale from the assigned readings.
BUS 660 Topic 4 DQ 1
Describe workforce scheduling, blending, and logistics problems facing your current organization or industry. What is being optimized in each of your examples and why? Which linear optimization techniques could be applied to the examples you identified? Support your response with rationale from the readings.
BUS 660 Topic 4 DQ 2
Discuss how your organization could use an operations management linear programming application to solve a problem or improve a business process.
BUS 660 Topic 5 DQ 1
Models that pertain to the distribution of a resource within supply chains are often referred to as networks. Distribution among these networks is key to the success of a business while also keeping cost production at a minimum. Discuss at least three ways that linear optimization models can be applied to both physical as well as abstract network problems to increase efficiency in supply chain management.
BUS 660 Topic 5 DQ 2
Solving shortest-route problems enables a business organization to use their resources more efficiently and minimize expenditures, thereby increasing overall production and profit. Consider the business or industry in which you work. What is a process that could be improved by the application of a shortest route linear programming model? How would this model improve production, profit, and/or efficiency?
BUS 660 Topic 6 DQ 1
Create a simple 0, 1 integer model for a situation or problem you face in your life. Is there an optimal solution for your problem? What type of model would you use to create an optimal solution? Explain.
BUS 660 Topic 6 DQ 2
Think about your own retirement investment portfolio or find an example of one online. Discuss how you might use a model to create the optimum portfolio allocation for your risk level.
BUS 660 Topic 7 DQ 1
Describe a waiting line situation that you regularly face in your daily life. Explain how you would improve the structure of that system by applying waiting line analysis.
BUS 660 Topic 7 DQ 2
What are the economic costs of waiting lines? How might these costs be measured? What decision criteria can be used to justify expanding services to reduce waiting times?
BUS 660 Topic 8 DQ 1
Describe a current problem facing your department, organization, or industry that would indicate the need for a simulation model. How best would this problem be solved by simulation versus the other modeling techniques covered in the course? Support your response with rationale from the readings.
BUS 660 Topic 8 DQ 2
Consider some of the examples you have brought up in earlier discussion forums about applying models to real-world problems. Choose one of the models covered earlier in the course and describe the key differences in solving a problem with that model versus with a simulation model. In your opinion, which is more effective? How does the problem at hand determine which type of model to use?
BUS 660 Full Course Assignments GCU
BUS 660 Topic 1 Decision Analysis Homework
Log into CengageNOW and complete the assigned homework problems for Topic 1. Submit the assignment for grading.
APA style is not required, but solid academic writing is expected.
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BUS 660 Topic 2 Time Series Analysis and Forecasting Homework
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BUS 660 Topic 3 Introduction to Linear Programming – Homework
Log into CengageNOW and complete the assigned homework problems for Topic 3. Submit the assignment for grading.
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BUS 660 Topic 4 Linear Programming: Applications in Marketing, Finance, and Marketing Management Homework
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BUS 660 Topic 5 Linear Programming: Distribution and Network Models – Homework
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BUS 660 Topic 6 Integer Linear Programming and Advanced Optimization Applications Homework
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BUS 660 Topic 7 Benchmark Data Analysis Case Study
The purpose of this assignment is to apply a waiting line model to a business service operation in order to recommend the most efficient use of time and resources.
(This assignment has been adapted from Case Problem 2 in Chapter 15 of the textbook.)
Use the information in the scenario provided to prepare a managerial report for Office Equipment, Inc. (OEI).
Scenario
Office Equipment, Inc. (OEI) leases automatic mailing machines to business customers in Fort Wayne, Indiana. The company built its success on a reputation of providing timely maintenance and repair service. Each OEI service contract states that a service technician will arrive at a customer’s business site within an average of 3 hours from the time that the customer notifies OEI of an equipment problem.
Currently, OEI has 10 customers with service contracts. One service technician is responsible for handling all service calls. A statistical analysis of historical service records indicates that a customer requests a service call at an average rate of one call per 50 hours of operation. If the service technician is available when a customer calls for service, it takes the technician an average of 1 hour of travel time to reach the customer’s office and an average of 1.5 hours to complete the repair service. However, if the service technician is busy with another customer when a new customer calls for service, the technician completes the current service call and any other waiting service calls before responding to the new service call. In such cases, after the technician is free from all existing service commitments, the technician takes an average of 1 hour of travel time to reach the new customer’s office and an average of 1.5 hours to complete the repair service. The cost of the service technician is $80 per hour. The downtime cost (wait time and service time) for customers is $100 per hour.
OEI is planning to expand its business. Within 1 year, OEI projects that it will have 20 customers, and within 2 years, OEI projects that it will have 30 customers. Although OEI is satisfied that one service technician can handle the 10 existing customers, management is concerned about the ability of one technician to meet the average 3-hour service call guarantee when the OEI customer base expands. In a recent planning meeting, the marketing manager made a proposal to add a second service technician when OEI reaches 20 customers and to add a third service technician when OEI reaches 30 customers. Before making a final decision, management would like an analysis of OEI service capabilities. OEI is particularly interested in meeting the average 3-hour waiting time guarantee at the lowest possible total cost.
Managerial Report
Develop a managerial report (1,000-1,250 words) summarizing your analysis of the OEI service capabilities. Make recommendations regarding the number of technicians to be used when OEI reaches 20 and then 30 customers, and justify your response. Include a discussion of the following issues in your report:
- What is the arrival rate for each customer?
- What is the service rate in terms of the number of customers per hour? (Remember that the average travel time of 1 hour is counted as service time because the time that the service technician is busy handling a service call includes the travel time in addition to the time required to complete the repair.)
- Waiting line models generally assume that the arriving customers are in the same location as the service facility. Consider how OEI is different in this regard, given that a service technician travels an average of 1 hour to reach each customer. How should the travel time and the waiting time predicted by the waiting line model be combined to determine the total customer waiting time? Explain.
- OEI is satisfied that one service technician can handle the 10 existing customers. Use a waiting line model to determine the following information: (a) probability that no customers are in the system, (b) average number of customers in the waiting line, (c) average number of customers in the system, (d) average time a customer waits until the service technician arrives, (e) average time a customer waits until the machine is back in operation, (f) probability that a customer will have to wait more than one hour for the service technician to arrive, and (g) the total cost per hour for the service operation.
- Do you agree with OEI management that one technician can meet the average 3-hour service call guarantee? Why or why not?
- What is your recommendation for the number of service technicians to hire when OEI expands to 20 customers? Use the information that you developed in Question 4 (above) to justify your answer.
- What is your recommendation for the number of service technicians to hire when OEI expands to 30 customers? Use the information that you developed in Question 4 (above) to justify your answer.
- What are the annual savings of your recommendation in Question 6 (above) compared to the planning committee’s proposal that 30 customers will require three service technicians? (Assume 250 days of operation per year.) How was this determination reached?
Prepare this assignment according to the guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
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Benchmark Information
This benchmark assignment assesses the following programmatic competency:
MBA
2.3 Analyze data using appropriate statistical modeling.
BUS 660 Topic 7 Waiting Line Models Homework
Log into CengageNOW and complete the assigned homework problems for Topic 7. Submit the assignment for grading.
APA style is not required, but solid academic writing is expected.
You are not required to submit this assignment to LopesWrite.
BUS 660 Topic 8 Simulation Homework
Log into CengageNOW and complete the assigned homework problems for Topic 8. Submit the assignment for grading.
APA style is not required, but solid academic writing is expected.
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