Mazy’s Department Store has decided to stay open for business on a 24-hour basis. The store manager has divided the 24-hour day into six 4-hour periods and has determined the following minimum personnel requirements for each period: Time Personnel Needed Midnight ~ 4:00 a.m. 95 4:00 a.m. ~ 8:00 a.m. 220 8:00 a.m. ~ Noon 270 Noon ~ 4:00 p.m. 75 4:00 p.m. ~ 8:00 p.m. 310 8:00 p.m. ~ Midnight 130 Store personnel must report to work at the beginning of one of these time periods and must work for 8 consecutive hours. The store manager wants to know the minimum number of employees to assign to each 4-hour segment to minimize the total number of employees.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Mazy’s Department Store has decided to stay open for business on a 24-hour basis. The store
manager has divided the 24-hour day into six 4-hour periods and has determined the following
minimum personnel requirements for each period:
Time Personnel Needed
Midnight ~ 4:00 a.m. 95
4:00 a.m. ~ 8:00 a.m. 220
8:00 a.m. ~ Noon 270
Noon ~ 4:00 p.m. 75
4:00 p.m. ~ 8:00 p.m. 310
8:00 p.m. ~ Midnight 130
Store personnel must report to work at the beginning of one of these time periods and must
work for 8 consecutive hours. The store manager wants to know the minimum number of
employees to assign to each 4-hour segment to minimize the total number of employees.
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