Share with your friends










Submit

Analytics Magazine

Thinking Analytically: Is this the way to run a Popsicle stand?

May/June 2012

By John Toczek

Can you run a profitable Popsicle stand?

Can you run a profitable Popsicle stand?

Workforce management is central to efficient operations and good customer service. Proper scheduling of employees can mean the difference between profitability and business failure.

As the manager of a Popsicle stand, you are required to hire and set the weekly work schedule for your employees. The required levels for the week are as follows:

Total employees required: Monday = 5, Tuesday = 7, Wednesday = 7, Thursday = 10, Friday = 16, Saturday = 18; Sunday = 12. Assume the same staffing requirements continue week after week.

Full-time employees work five consecutive days and earn $100 per day. Part-time employees work two consecutive days and earn $150 per day.

Questions:

What is the minimal weekly staffing cost you can achieve while meeting the required staffing levels?

Send your answer to ThinkingAnalytics@gmail.com by July 2. The winner, chosen randomly from the correct answers, will receive an “Analytics: Driving Better Business Decisions” T-shirt.

John Toczek, INFORMS member and Philadelphia chapter officer, is the manager of Decision Support and Analytics for ARAMARK Corporation in the Global Risk Management group. He earned a bachelor’s degree in chemical engineering at Drexel University (1996) and a master’s degree in operations research from Virginia Commonwealth University (2005).

business analytics news and articles

 

Save

Save

Related Posts

  • 71
    The 2017 INFORMS Conference on Business Analytics & Operations Research will take place in Las Vegas on April 2-4 at Caesars Palace. Analytics 2017 will bring together nearly a thousand leading analytics professionals and industry experts to share ideas, network and learn through real-life examples of data-based analytical decisions.
    Tags: analytics, will, operations, informs
  • 68
    We hope to see many Analytics Society members in Las Vegas for the upcoming INFORMS Conference on Business Analytics & Operations Research be held April 2-4. As shared in previous communications, the Analytics Society is organizing many exciting events for the conference.
    Tags: analytics, informs, business, will
  • 63
    The 2017 INFORMS Conference on Business Analytics & O.R. in Las Vegas this spring will feature a special day-long event for a select group of practice-oriented analytics and operations research graduate students. The INFORMS Professional Colloquium (IPC), scheduled for April 2, will provide students nominated by their departments and competitively…
    Tags: will, analytics, informs, receive, business, group, operations
  • 61
    The 2017 INFORMS Annual Meeting will be held in Houston, Texas, on Oct. 22-25. The meeting will take place at the George R. Brown Convention Center and the Hilton Americas, with all technical sessions taking place at the Convention Center.
    Tags: informs, meeting, will, operations, analytics
  • 59
    The Analytics Society’s leadership team is now launching its strategic priorities for 2017. As described last month, we are going to focus on three areas to add more value for our members and profession, and I would like to invite you to participate.
    Tags: analytics, informs

Analytics Blog

Electoral College put to the math test


With the campaign two months behind us and the inauguration of Donald Trump two days away, isn’t it time to put the 2016 U.S. presidential election to bed and focus on issues that have yet to be decided? Of course not.


Save



Headlines

Study: Salaries for early career data scientists decrease for first time

Salaries for early career data scientists decreased year over year for the first time in four years as did the percentage of early career data scientists with a Ph.D. while demand for data scientists continued to increase, according to a recently released Burtch Works’ 2017 salary study of data scientists. Salaries for more experienced data scientists generally held steady or increased slightly depending on an individual’s focus area, responsibility and geographic base, according to the report. Read more →

Generous health insurance plans encourage overtreatment, but may not improve health

Offering comprehensive health insurance plans with low deductibles and co-pay in exchange for higher annual premiums seems like a good value for the risk averse, and a profitable product for insurance companies. But according to a forthcoming study in a leading scholarly marketing journal, the INFORMS journal Marketing Science, such plans can encourage individuals with chronic conditions to turn to needlessly expensive treatments that have little impact on their health outcomes. This in turn raises costs for the insurer and future prices for the insured. Read more →

UPCOMING ANALYTICS EVENTS

INFORMS-SPONSORED EVENTS

CONFERENCES

2017 INFORMS Healthcare Conference
July 26-28, 2017, Rotterdam, the Netherlands

CAP® EXAM SCHEDULE

CAP® Exam computer-based testing sites are available in 700 locations worldwide. Take the exam close to home and on your schedule:


 
For more information, go to 
https://www.certifiedanalytics.org.