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4. A metal fabrication shop has a single punch press. There are currently three parts that the shop has agreed to produce that require the press, and it appears that they will be supplying these parts well into the future. You may assume that the press is the critical resource for these parts, so that we need not worry about the interaction of the press with the other machines in the shop. The relevant information is listed below: Part Number Annual Demand Setup Cost ($) Cost per unit ($) Production Rate per year 123 2,500 80 16 45,000 5,500 120 18 40,000 1,450 60 60 22 26,000

4. A metal fabrication shop has a single punch press. There are currently three parts that the shop has agreed to produce that require the press, and it appears that they will be supplying these parts well into the future. You may assume that the press is the critical resource for these parts, so that we need not worry about the interaction of the press with the other machines in the shop. The relevant information is listed below: Part Number Annual Demand Setup Cost ($) Cost per unit ($) Production Rate per year 123 2,500 80 16 45,000 5,500 120 18 40,000 1,450 60 60 22 26,000

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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4. A metal fabrication shop has a single punch press. There are currently three parts that the shop has agreed to produce that require the press, and it appears that they will be supplying these parts well into the future. You may assume that the press is the critical resource for these parts, so that we need not worry about the interaction of the press with the other machines in the shop. The relevant information is listed below: Part Number Annual Demand Setup Cost ($) Cost per unit ($) Production Rate per year 1 2,500 80 16 45,000 2 3 5,500 120 18 40,000 1,450 60 22 26,000 Holding costs are based on an 18 percent annual interest rate, and the products are to be produced in sequence on a rotation cycle. Setup times can be considered negligible. a. What is the optimal time between setups for part number 1? b. What percentage of the time is the punch press idle, assuming an optimal rotation cycle policy?
Transcribed Image Text:4. A metal fabrication shop has a single punch press. There are currently three parts that the shop has agreed to produce that require the press, and it appears that they will be supplying these parts well into the future. You may assume that the press is the critical resource for these parts, so that we need not worry about the interaction of the press with the other machines in the shop. The relevant information is listed below: Part Number Annual Demand Setup Cost ($) Cost per unit ($) Production Rate per year 1 2,500 80 16 45,000 2 3 5,500 120 18 40,000 1,450 60 22 26,000 Holding costs are based on an 18 percent annual interest rate, and the products are to be produced in sequence on a rotation cycle. Setup times can be considered negligible. a. What is the optimal time between setups for part number 1? b. What percentage of the time is the punch press idle, assuming an optimal rotation cycle policy?
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