What are the purposes of lean production management? Explain its importance in business

2. Explain the trade-off relationship between the ordering and the inventory holding costs in determining an Economic Order Quantity.

3. Explain the process improvement cycle and its necessity

4. In doctorsÂ’ chamber, patients arrive completely at random at an average rate of 5 patients per hour and length of consultation of a patient by a doctor is exponential with an average of 20 minutes. Patients are consulted by available any one of 2 doctors of the same service rate following FIFO. All patients who are not being served by any one of the doctors wait in a waiting room which has 10 chairs. i. What is the average number of customers in the system? ii. What is the average number of patients in the waiting room? iii. What is the average waiting time, including the service time? iv. What is the probability that there are not enough chairs for all patients? v. What is the probability that the sojourn time exceeds 40 minutes?