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 940, 1,520, and 1,230, respectively. Safety stock policyrecommends 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 570 units.Manufacturing cost is $170 per unit, storage cost is $5 per unit per month, standard pay rate is $8 per hour, overtime rate is $12 perhour, cost of stock-out is $9 per unit per month, marginal cost of subcontracting is $8 per unit, hiring and training cost is $160 perworker, layoff cost is $260 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 44 workers and thatthey work 8 hours per day. (Leave the cells blank, whenever zero (0) is required. Input all values as positive values. Round up"Workers Required" to the next higher whole number. Round all other answers to the nearest whole number.)JanuaryFebruaryMarchForecast9401,5201,230Safety stockBeginning inventoryNet production requiredWorkers requiredHiredLaid offActual productionEnding inventory Ending inventoryJanuaryFebruaryMarchLaborInventoryHiringLayoffTotalTotal

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Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Plan production for a four-month period: February through May. For February and March, you should produce to exact demand forecast. For April and May, you should use overtime and inventory with a stable workforce; stable means that the number of workers needed for March will be held constant through May. However, government constraints put a maximum of 5,000 hours of overtime labor per month in April and May (zero overtime in February and March). If demand exceeds supply, then backorders occur. There are 100 workers on January 31. You are given the following demand forecast: February, 90,000; March 65,000; April 110,000; May, 55,000. Productivity is four units per worker hour, eight hours per day, 20 days per month. Assume zero inventory on February 1. Costs are hiring, $50 per new worker; layoff, $70 per worker laid off; inventory holding, $10 per unit-month; straight-time labor, $10 per hour; overtime, $15 per hour; backorder, $20 per unit a. Find the total cost of this plan?
Scatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 3,000 $ 165,400 1,500 100,750 4,400 241,400 2,800 163,800 2,300 139,550 1,200 86,200 2,000 125,000 1 2 3 4 5 6 7 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. $ 28,000 + $48.5 X (b.) Plot the data on a scatter diagram. Using the information from representative high-and low-volume months, develop a cost estimating equation for monthly order-processing costs. If needed, an Excel worksheet is provided in the following link in order to create the scatter diagram: Scatter_Diagram $ 15,000 X+ $53.14 X X
Assume you are the manager of a shop that assembles power tools. You have just received an order for 55 chain saws, which are to be shipped at the start of week 8. Pertinent information on the saws follows: Item Lead Time (weeks) On Hand Saw A B C D E F 2 1 2 2 1 1 2 Gross requirements Scheduled receipts Projected on hand Net requirements Planned order receipt Planned order release Ĉ E(3) & E(2) LT = 1 week Lot size: Lot-for-Lot 15 10 5 65 20 10 30 Skip Extension Tip: Double click to open in new tab Show Transcribed Text Develop the material requirements plan for component E using lot-for-lot ordering for all items. (Leave no cells blank - be certain to enter "0" wherever required.) Components A(2), B(1), C(4) E(3), D(1) D (2), F(3) E(2), D (2) Beg. Inv. 1 2 3 190 5 210 6
LMNO Gaskets has formulated a production plan for a product to meet demand over the upcoming four quarters. Demand in each of the four quarters and production, overtime, and subcontracting capacities are reported in the table below, in addition to the feasible production plan. The relevant costs are: • Regular time production cost is $10/unit. Overtime production cost is $14/unit. Subcontracting cost is $18/unit Inventory is held at a cost of $1/unit/quarter. • Units may be backordered at a cost of $4/unit/quarter. Production Resource Regular Time Q1 Overtime Q1 Subcontract Q1 Regular Time Q2 Overtime Q2 Subcontract Q2 Regular Time Q3 Overtime Q3 Subcontract Q3 Demand in Quarter Demand in Quarter Q2 0 20 0 550 Q1 550 230 0 0 0 0 40 40 0 860 250 470 0 40 0 1330 What is the inventory cost for the year? What is the backorder cost for the year? What is the total cost for the year? Q3 0 0 0 0 0 30 510 160 0 700 What is the total overtime production cost for the year? Capacity 550 250 500…
As the production planner for Xiangling Hu Products, Inc., you have been given a bill of material for a bracket that is made up of a base, 2 springs, and 4 clamps. The base is assembled from 1 clamp and\ 1 housing. Each clamp has 1 handle and 2 castings.Each housing has 1 bearing and 2 shafts.There is no inventory on hand. C) Compute the net quantities needed if there are 25 of the base and 75 of the clamp in stock. (Product structure picture attached) Base = (?) units Spring = (?) units Clamp = (?) units Housing = (?) units Handle = (?) units Casting = (?) units Bearing = (?) units Shaft = (?) units
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The table above provides the aggregate plan of production by a firm. It is known that the firm uses a level plan with lost sales, i.e., without backorders. Given this information, what is the number in the cell that says xx?
Let’s say that Glass For Sale, Inc. manufacturers replacement glass for the home remodelingindustry. In January, the company produces fifteen-thousand windows and ended the monthwith nine-thousand windows in inventory. Glass For Sale’s management team would like to develop a production schedule for the next three months. A smooth production schedule is obviously desirable due to the fact that it maintains the current workforce and provides a similar month-to-month operation. However, given the sales forecasts, the production capacities, and the storage capabilities as shown in Table two, the management teamdoes not think a smooth production schedule with the same production quantity each month is possible. The company’s cost accounting department estimates that increasing production by one window from one month to the next will increase total costs by one dollar for each unit increase in the production level. In addition, decreasing production by one unit from one month to the next…
Plan production for a four-month period (February through May). Given information: For February and March, you should produce to exact demand forecast. For April and May, you should use overtime and inventory with a stable workforce; stable means that the number of workersneeded for March will be held constant through May. However, government constraints put a maximum of 5,000 hours of overtime labor per month in April and May (zero overtime in February and March). If demand exceeds supply, then backorders occur. There are 100 workers on January 31. You are given the following demand forecast: February, 80,000; March, 64,000; April, 100,000; May, 40,000. Productivity is four units per worker hour, eight hours per day, 20 days per month. Assume zero inventory on February 1. Costs are hiring, $50 per new worker; layoff, $70 per worker laid off; inventory holding, $10 per unit-month; straight-time labor, $10 per hour; overtime, $15 per hour; backorder, $20 per unit.
Develop a production plan and calculate the annual cost for a firm whose demand forecast is fall, 11,000; winter, 8,000; spring, 6,000; summer, 13,000. Inventory at the beginning of fall is 500 units. At the beginning of fall you currently have 30 workers, but you plan to hire temporary workers at the beginning of summer and lay them off at the end of summer. In addition, you have negotiated with the union an option to use the regular workforce on overtime during winter or spring if overtime is necessary to prevent stockouts at the end of those quarters. Overtime is not available during the fall. Relevant costs are hiring, $100 for each temp; layoff $200 for each worker laid off; inventory holding, $5 per unit-quarter; backorder, $10 per unit; straight time, $5 per hour; overtime, $8 per hour. Assume that the productivity is 0.5 unit per worker hour, with eight hours per day and 60 days per season. a. What is the total cost for this plan?
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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, 1,480, and 1,180, 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 480 units. Manufacturing cost is $160 per unit, storage cost is $6 per unit per month, standard pay rate is $6 per hour, overtime rate is $9 per hour, cost of stockout is $8 per unit per month, hiring and training cost is $140 per worker, layoff cost is $240 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. (Round Workers Required up to the next higher whole number. Round all other variables off to the nearest whole number. Use previous rounded answers as required to…

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