A Large Consulting Firm Is Deciding on If Its Workforce

question 91

Essay

A large consulting firm is deciding on if its workforce should be expanded,maintained,or decreased.Suppose that demand is given in week-long projects,and that a consultant can work on 3 projects each month (1 week off for personal leave and/or other duties such as conferences,etc).Currently there are 25 consultants.Ten consultants are trained for LEAN and 15 for Six Sigma,with 5 of those consultants being overlaps (the consultant is trained for BOTH LEAN and Six Sigma).Assume that all consultants can do the general work.Complete the table (the forecast period is an upcoming month)and prepare a recommendation.

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Definitions:

Actual Inflation Rate

The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling, as measured over a specific period of time.

Actual Price Level

The current cost of goods and services in an economy, affecting purchasing power and inflation rates.

Velocity

The rate at which money circulates or is exchanged in an economy, influencing inflation and economic activity.

Money Supply

The total amount of money available in an economy, including cash, deposits, and other forms of liquidity.