Question 4Right now is Quarter 2 of 2020. You are developing an aggregateproduction plan for 2021.rveySuppose the beginning inventory at the first quarter of 2021 is estimatedto be 196 units.ingThe demand for Quarter 1 of 2021 is forecasted to be 1.208 units whilethe demand for Quarter 22021 is forecasted to be 891 units.Overtime production and subcontract will not be available in the first twoquarters of 2021.If the regular production in Quarter 1 is 1,950 units and the regularproduction in Quarter 2 is891 units, what is the ending inventory level in Quarter 2 of 2021?

Given data- Particulars Quarter 1 Quarter 2 Demand 1208 891 Regular Production 1950 891…

Answered: Right now is Quarter 2 of 2020. You are…

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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Problem 4 In a known company, the demand for a product follows a normal distribution. Based on past data, you calculated a weekly average of 30 units with a standard deviation of 7 units. The supplier can deliver each unit and takes 5 weeks at a cost per unit of $25. The supplier lead time has a standard deviation of 1 week. Every time you place an order to the supplier will cost $45, and the inventory holding cost is $2.00 per unit per year. No stockouts are allowed because there is a cost of $2,000 Istockout. The company operates 45 weeks per year. What is the economic order quantity? а. b. What is the optimal reorder point and the safety stock at a service level of 95%?
A local manufacturer of Toys produces several toys. Among the most popular is Elsa Doll. Suppose that there are currently 100 Elsa Doll in inventory and that there are customer orders that have been committed and must be filled. Suppose that a production lot size of 150 Elsa Dolls. The weekly forecasts for the eight weeks are 176, 172, 50, 130, 40, 120, 132, and 135 respectively. The customer orders for weeks 1, 2, 3 through 8 are the 88, 86, 25, 65,20,51,0, o respectively. Using the standard principles of Master Production Schedule (MPS) along with Available-To-Promise (ATP) for the Elsa Dolls, what is the Available to promise (ATP) level in week 5 question Select one: a. 162 b. 150 c. None is correct d. 79 e. 2.39
Dorothy’s pastries are freshly baked and sold at several spe-cialty shops throughout Perth. When they are a day old, theymust be sold at reduced prices. Daily demand is distributedas follows:Demand Probability50 0.25150 0.50200 0.25Each pastry sells for $1.00 and costs $0.60 to make. Each onenot sold at the end of the day can be sold the next day for$0.30 as day-old merchandise. How many pastries should bebaked each day?
Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem. Also, evaluate the cost of the schedule. The monthly forecasts for Product X for January, February, and March are 1,000, 1,500, and 1,200, 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 500 units. Manufacturing cost is $200 per unit, storage cost is $3 per unit per month (based on expected end-of-month levels), standard pay rate is $6 per hour, overtime rate is $9 per hour, cost of stock-out is $10 per unit per month, marginal cost of subcontracting is $10 per unit, hiring and training cost is $200 per worker, layoff cost is $300 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 50 workers and that they work 8 hours per day. Note: Leave the cells blank,…
Problem 6 Part A:Available to promise in period 4 = 50Problem 6 Part B:PAB in period 7 = 35 In part A, the only thing that you need to do is to calculate the ATP in periods 1,4,5, and 7. In part B, remember that you are rolling through time. The part B solution spreadsheet starts with time period 2 and period 1 is now history. For the part B, you must capture all of the events that occurred during week 1. For example, I gave you that the beginning PAB is 45. If you had 20 in stock (from part A), you produced 50 as planned in period 1, and the actual demand for period 1 was 25, then the beginning PAB (your stock quantity) is 20+50-25=45. The forecast and MPS quantities will not change from part A to part B. After you accept each of the orders (simply add the new order quantities to the existing customer order quantities in the correct time bucket), you will then recalculate the PAB, and then recalculate the ATP.
Production Quantity Model A stew production facility sells the stew in an adjoining store. Demand for the stew is 32 gallons per day. Both the store and production facility operate 310 days per year. The company can produce 128 gallons per day. It costs $1200 to set up a production run. The stew is stored at an annual cost of $20 per gallon. The company wants to use the optimal order quantity. (Round the order quantity to an integer value) What is the maximum inventory level? How many production runs will be required each year? What is the total annual carrying cost? If the store places an order to the production facility for 1000 gallons of stew (not necessarily the economic order quantity), how many gallons of stew will be sold during the order receipt period?
1) To order less than 2,000 the vendor quotes $1.80 per piece. Orders between 2001 to 5,000 are $1.60 per piece and 5,001-10,000 it's $1.40. Any orders above 10,000 the price drops to $1.25. Ordering costs are $200 per order and to store the materials we have a 5% storage costs from UC catering. Our estimated annual demand is 15,000 pieces. If we contract to place orders annually with the vendor for 10,001 pieces each time to get the S1.25 price, what is my total cost for the year? 2) To order less than 2,000 the vendor quotes $1.80 per piece. Orders between 2001 to 5,000 are S1.60 per piece and 5,001-10,000 it's S1.40. Any orders above 10,000 the price drops to $1.25. Ordering costs are $200 per order and to store the materials we have a 5% storage costs from UC catering. Our estimated annual demand is 15,000 pieces. What is the optimal Order Qty ?
A retailer has two merchandizers, Sue and Bob, who are responsible for setting orderquantities for the products they manage. For all of their products, the critical ratio is .7and the coefficient of variation of their demand forecasts is 0.35. At the end of the season, Sue is proud to report that she has sold the entire inventory she purchased. Bob, onthe other hand, sold only about a third of his products. Who is more likely to be choosing quantities that maximize expected profit? a. Sue because she doesn’t incur the cost of salvaging inventory.b. Sue because she must have sold more units than Bob.c. Bob because even leftover inventory generates some additional revenue.d. Bob because he is probably ordering more than the mean of the demand forecast.
A jewelry manufacturer is creating a routine order schedule for some new products: J66 and J67. J66 can be ordered any time. J67 is set up to be ordered every 4 weeks. The company is closed 2 weeks out of a 52 week year otherwise it is open. Given the following, show me the calculation (I have provided the final answer) the questions at the end: J66 acceptable stockout risk = 2.5%, lead time = 2 weeks, ordering cost =$70, annual holding cost = 30%, unit cost =$15, standard deviation = 4 units per week, and average weekly demand is 60 units. J67 acceptable stockout risk = 2.5%, lead time = 2 weeks, ordering cost =$30, annual holding cost = 30%, unit cost =$20, standard deviation = 5 units per week, and average weekly demand is 70 units. I know the reorder point for j67 is 153 units on hand. 1) Show me the math to come up with the 153 units answer. 2) What is the reorder point for the J66? (I know the answer is 306 units so show me the calculation), 3) If the J67 has 110 units on…
1. Suppose the demand of a product in a retail store is 800 per year and it occurs at a constant rate. Placement of an order of this product to an outside supplier by the store is 40 Dollar. The super market authority has calculated the inventory holding cost per unit per year as 90 cents. Assuming no occurrence of shortages of the product, find a) i. the minimal order quantity of the product from the outside supplier if the product is not allowed to sell during production. ii. the minimal number of orders per year. Explain whether the nearest integer number of orders per year is justified. iii. the cycle time of a lot in months. iv. the annual minimal total cost of ordering and inventory holding for that minimal order quantity. v. the reorder point if the lead time of delivering a lot is 2 days,? b) If the production rate of processing the product is 1200 per year and the set up cost per set up is 65 Dollar. If the selling of the product is allowed during production, determine i) the…
The beginning stock of a product is 200 units (On hand stock =200 unites). Safety Stock level is 50 unites. It is desirable to prepare a 12-week Master Production Schedule. MPS is 400 units. The Demand forecast and Customer order quantities for the 12 periods are given in the table below. Determine the Master Production Schedule and Available to promise amount (ATP) in a way that maintains the amount of safety stock. Demand Forecast Customer Order 1 2 3 4 5 6 70 60 90 90 110 120 80 120 120 110 110 100 90 7 130 80 8 150 50 9 140 40 10 145 0 11 180 0 12 190 0
Mehmat has a monthly budget of 440TL, which he likes to spend on books(b) and movie tickets (m). Draw the budget contraint curve by putting books on the x-axis. Explain the opportunity cost of the movie ticket. 22b + 11m = 440TL

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