Each day, the production manager is faced with the problem of how many of each type ofproduct to produce. The manager's goal is to maximize profits, but, at the same time, noexisting orders should go unfilled. Based on the following information, how many of eachproduct should the manager produce today?ProductABAluminum required(pounds)24Steelrequired(pounds)32Current inventory of aluminum - 50 poundsCurrent inventory of steel - 100 poundsQuantity of Product AQuantity of Product B2512Profit perunit1015Currentorders125

Linear programming helps us to find the optimal solution/best outcome, given the constraints. We…

Answered: Each day, the production manager is…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Complete the MPS record below for a single item. (Enter your responses as integers. A response of "0" is equivalent to being not applicable.) Item: A Quantity on Hand: 80 Forecast Customer orders (booked) Projected on-hand inventory MPS quantity 1 70 40 ☐☐ January 2 70 65 80 Order Policy: 100 units Lead Time: 1 week February Week 4 40 0 5 45 35 50 70 45 0 8 50 0
Product A Order Qty = 400 Order Lead Time = 2 Forecast Demand Scheduled Receipts Projected Available Inventory 400 Planned Order Receipts Planned Order Releases 1 300 OD 4, 6, 2 300 400 Sketch and fill in the grid on scrap paper to use on upcoming questions In what periods would you incur a planned order release? OA 1.3, and 4 2.4, and 5 OC 3,5, and 6 and 7 3 300 PERIODS 4 300 5 300 6 300 7 100 8 100
Tinker's 2020 cost of goods sold was $750,000 and 2019 cost of goods sold was $770,000. The inventory at the end of 2020 was $188,000 and $208,000 at the end of 2019. What was Tinker's inventory turnover during 2020? Group of answer choices A)3.79 b)3.99 C)3.84 D)3.89 E)None of the above
Hau Lee Furniture, Inc., spends 45% of its sales dollars in the supply chain and finds its current profit of $15,000 inadequate. The bank is insisting on an improved profit picture prior to approval of a loan for some new equipment. Hau would like to improve the profit line to $20,000 so he can obtain the bank's approval for the loan. Current Situation Sales Cost of material $100,000 $45,000 (45%) Production costs Fixed cost Profit $25,000 (25%) $15,000 (15%) $15,000 (15%) a) What percentage improvement is needed in the supply chain strategy for profit to improve to $20,000? What is the cost of material with a $20,000 profit? A decrease of 11.1 % in material (supply-chain) costs is required to yield a profit of $20,000, for a new material cost of $40000. (Enter your response for the percentage decrease to one decimal place and enter your response for the new material cost as a whole number.)
â€¢ 1An advantage of a make-to-stock process is which of the following? o It responds directly to customer orderso It allows the firm to avoid inventory costso Rapid delivery of a standard producto All units of output are uniqueCorrectâ€¢ 2According to Littleâ€™s law, which of the following can be used to estimate inventory?o Set up time times throughput rateo Process time times cycle timeo Process velocity times flow timeo Throughput rate times flow timeCorrectâ€¢ 3Which of the following is a principle of reengineering? o Integrate the outcomes of parallel activitieso Organize around the taskso Treat geographically dispersed resources as though they were centralizedo Capture information many times, at the source and where it is interpretedCorrectâ€¢ 4Which of the following is one of the major types of stakeholders impacted by most consulting projects?o International government regulatorso Other consultantso…
Opportunity costs are relevant to which of the following decisions? Whether to accept a special order when capacity is limited Whether to makeor buy a product No Yes No No Yes No Yes Yes
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 2 clamps and 1 housing. Each clamp has 1handle and 1 casting. Each housing has 2 bearings and 2 shafts. There is no inventory on hand. c) Compute the net quantities needed if there are 25 of the base and 100 of the clamp in stock. Base: units (enter your response as a whole number). Spring: units Clamp: units Housing: units Handle units Casting: units Bearing: units Shaft: units
Samson is trying to solve the inventory needs for his fidget spinner business. He is in talks with two manufacturing businesses that can solve his problems. He is debating with himself if he should choose one or the other for his business. What role of Operations Management is Samson embodying in this scenario? (A) Storage and Inventory System (B Materials and Requisition Evaluation of Suppliers D Quality Control Management
Exercise 1: You are the operations manager at the company Servicios de Salud, Inc., which provides care services to the elderly. An important aspect of your job is ensuring that nursing homes have a healthy inventory of nutritional drinks for residents. Below is the historical demand for the product for one year: Month Historical demand (boxes) Forecasted demand (boxes) January 300 February 340 March 370 April 410 ¿? May 470 ¿? June 570 ¿? July 630 ¿? August 720 ¿? September 640 ¿? October 460 ¿? November 420 ¿? December 390 ¿? a. Calculate the average demand for each period from April to December using the 3-month simple moving average. Presents calculations and findings in a clear and organized manner. b. Discuss any trends or patterns observed in the calculated moving average demand values. c. Make an interpretation of the results and their implications for forecasting…
ssume you are the manager of a shop that assembles power tools. You have just received an order for 50 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 Components Saw 2 15 A(2), B(1), C(4) A 1 10 E(3), D(1) B 2 5 D(2), F(3) C 2 65 E(2), D(2) D 1 20 E 1 10 F 2 30 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.)
9.15 If the annual cost of goods sold is $30,000,000 and the average inventory is $5,000,000: a. What is the inventory turns ratio? b. What would be the reduction in average inventory if, through better materials management, inventory turns were increased to 10 times per year? c. If the cost of carrying inventory is 25% of the average inventory, what is the annual savings?
A bagel store orders cream cheese from three suppliers, Cheesy Cream Corp. (CCC), Super Smooth & Sons (SSS), and Bagel's Best Friend Co. (BBF). One month, the total order of cheese came to 100 tons. (The store does do a booming trade.) The costs were $80, $50 and $65 per ton from the three suppliers respectively, with the total cost amounting to $6,710. Given that the store ordered the same amount from CCC and BBF, how many tons of cream cheese were ordered from each supplier? Cheesy Cream Corp.____ tons Super Smooth & Sons ____tons Bagel's Best Friend Co. _____tons

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