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A company is trying to balance production between 3 workstations on an assembly line. Currently there are 5 tasks that need to be performed. These tasks, ABCDE, have required times of 2 minutes, 4 minutes, 1 minutes, 3 minutes, and 10 minutes respectively. The assembly line needs to produce 40 units per day to meet demand and can work for up to 8 hours each day.
A. What is the required cycle time?
B. What is the theoretical minimum # of workstations?
C. Assign the tasks according to shortest task time.
D. Is there a better way to divide the work than in Part C?
CPI
The Consumer Price Index, which measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Consumer Substitution
The tendency of consumers to switch from one good to another in response to changes in relative prices, keeping their level of satisfaction or utility constant.
New Good
A product that has been recently developed or introduced to the market, offering new benefits or replacing existing goods.
Economic Well-Being
A measure of how well an individual, community, or country is performing economically, often considering factors like income, employment, and access to goods and services.
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