Introduction to Operations Research 9th Edition by
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Solutions Manual for Introduction to Operations Research
9th Edition by Frederick S. Hillier A+
1
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CHAPTER 1: INTRODUCTION
1.3-1.
Answers will vary.
1.3-2.
Answers will vary.
1.3-3.
By using operations research (OR), FedEx managed to survive crises that could drive it out of
business. The new planning system provided more flexibility in choosing the destinations that it
serves, the routes and the schedules. Improved schedules yielded into faster and more reliable
service. OR applied to this complex system with a lot of interdependencies resulted in an
efficient use of the assets. With the new system, FedEx maintained a high load factor while being
able to service in a reliable, flexible and profitable manner. The model also enabled the company
to foresee future risks and to take measures against undesirable outcomes. The systematic
approach has been effective in convincing investors and employees about the benefits of the
changes. Consequently, "today FedEx is one of the nation's largest integrated, multi-conveyance
freight carriers" [p. 32]
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CHAPTER 2: OVERVIEW OF THE OPERATIONS RESEARCH
MODELING APPROACH
2.1-1.
(a) The rise of electronic brokerage firms in the late 90s was a threat against full-service
financial service firms like Merrill Lynch. Electronic trading offered very low costs, which were
hard to compete with for full-service firms. With banks, discount brokers and electronic trading
firms involved, the competition was fierce. Merrill Lynch needed an urgent response to these
changes in order to survive.
(b) "The group's mission is to aid strategic decision making in complex business situations
through quantitative modeling and analysis" [p.8].
(c) The data obtained for each client consisted of "data for six categories of revenue, four
categories of account type, nine asset allocation categories, along with data on number of trades,
mutual fund exchanges and redemptions, sales of zero coupon bonds, and purchases of new
issues" [p. 10].
(d) As a result of this study, two main pricing options, viz., an asset-based pricing option and a
direct online pricing option were offered to the clients. The first targeted the clients who want
advice from a financial advisor. The clients who would choose this option would be charged at a
fixed rate of the value of their assets and would not pay for each trade. The latter pricing option
was for the clients who want to invest online and who do not want advice. These self-directed
investors would be charged for every trade.
(e) "The benefits were significant and fell into four areas: seizing the marketplace initiative,
finding the pricing sweet spot, improving financial performance, and adopting the approach in
other strategic initiatives" [p.15].
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2.1-2.
(a) This study arose from GM's efforts to survive the competition of the late 80s. Various
factors, including the rise of foreign imports, the increase in customer expectations and the
pricing constraints, forced GM to close plants and to incur large financial losses. While trying to
copy Japanese production methods directly, GM was suffering from "missing production targets,
working unscheduled overtime, experiencing high scrap costs, and executing throughput-
improvement initiatives with disappointing results" [p. 7]. The real problems were not
understood and the company was continuously losing money while the managers kept
disagreeing about solutions.
(b) The goal of this study was "to improve the throughput performance of existing and new
manufacturing systems through coordinated efforts in three areas: modeling and algorithms, data
collection, and throughput-improvement processes" [p. 7].
(c) The data collection was automated by using programmable logic controllers (PLCs). The
software kept track of the production events including "machine faults and blocking and starving
events" [p. 13] and recorded their duration. The summary of this data was then transferred to a
centralized database, which converted this to workstation performance characteristics and used in
validating the models, determining the bottleneck processes and enhancing throughput.
(d) The improved production throughput resulted in more than $2.1 billion in documented
savings and increased revenue.
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