Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem. The monthly forecasts for Product X for January, February, and March are 1,020, 1,550, and 1,220, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February, and 21 in March. Beginning inventory is 560 units. Storage cost is $3 per unit per month based on ending inventory level, standard pay rate is $8 per hour, hiring and training cost is $220 per worker, layoff cost is $320 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 42 workers and that they work 8 hours per day. (Leave no cells blank - he certain to "O" whorovor roo

Practical Management Science
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Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
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Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem.
The monthly forecasts for Product X for January, February, and March are 1,020, 1,550, and 1,220, respectively. Safety stock policy
recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February,
and 21 in March. Beginning inventory is 560 units.
Storage cost is $3 per unit per month based on ending inventory level, standard pay rate is $8 per hour, hiring and training cost is
$220 per worker, layoff cost is $320 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 42 workers
and that they work 8 hours per day. (Leave no cells blank - be certain to enter "O" wherever reguired, Innut all values as noritivo
Transcribed Image Text:Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem. The monthly forecasts for Product X for January, February, and March are 1,020, 1,550, and 1,220, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February, and 21 in March. Beginning inventory is 560 units. Storage cost is $3 per unit per month based on ending inventory level, standard pay rate is $8 per hour, hiring and training cost is $220 per worker, layoff cost is $320 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 42 workers and that they work 8 hours per day. (Leave no cells blank - be certain to enter "O" wherever reguired, Innut all values as noritivo
Laid off
Actual production
Ending inventory
January
February
March
Labor cost
Inventory cost
Hiring cost
Layoff cost
Total cost
Total
< Prev
Mac
Transcribed Image Text:Laid off Actual production Ending inventory January February March Labor cost Inventory cost Hiring cost Layoff cost Total cost Total < Prev Mac
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