PLEASE PROVIDE ANSWERS AT THE SOONEST POSSIBLE. THANKS.
Question 1
a. Please discuss how material requirements planning (MPR) differs from enterprise resource planning (ERP)?
b. How can a balance be struck between the cost of break-down maintenance and the cost of preventive maintenance?
Question 2
Why is empowerment a critical element in total quality management? What are the disadvantages of empowerment? Please provide examples or explanations to support your views.
Question 3
The management of High Price Ltd was concerned about the potential loss that might occur in the event of a physical catastrophe such as a power failure or a fire. The bank estimated that the loss from one of these incidents could be as much as $100 million, including losses due to interrupted service and customer relations. One project the company is considering is the installation of an emergency power generator at its operations headquarters. The cost of the emergency generator is $900,000 and if it is installed no losses from this type of incident will be incurred. However, if the generator is not installed, there is a10% chance that a power outage will occur during the next year. If there is an outage, there is a 0.04 probability that the resulting losses will be very large, or approximately $90 million in lost earning. Alternatively, it is estimated that there is a 0.96 probability of only slight losses of around $2 million. You are approached by the management of the company to help determine whether the company should install the new generator.
Question 4
Most students live in a dormitory or apartment that they rent. Discuss whether this type of living accommodation is a product or service. Assess the quality of a student's living accommodation according to the previous response. Please elaborate your discussion with examples.