SCENARIO 1A manufacturing company Grass Huts Manufacturing Limited(GHM), operating under a continuous review system, has an averagedemand of 50 units per week for the item it produces. The standarddeviation in weekly demand is 20 units. The lead-time for the itemis six weeks, and it costs the company $30 to process each order.The holding cost for each unit is $10 per year. The companyoperates 52 weeks per year.A normal distribution table is appended to this exam.a) Use the information in Scenario 1. What is the desired safetystock level, if the company has a policy of maintaining a 95%cycle-service level?b) Use the information in Scenario 1. What is the Reorder Point, ifthe company has a policy of maintaining a 95% cycle-servicelevel?c) Use the information in Scenario 1. What is the Reorder Point ifthe company finally decides to implement a 98 percent cycleservice level?d) If lead-time increases by three weeks, what is the reorder pointneeded to maintain a 98% servicelevel?

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Answered: SCENARIO 1 A manufacturing company…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Fiske Corporation manufactures a popular regional brand of kitchen utensils. The design and variety has been fairly constant over the last three years. The managers at Fiske are planning for some changes in the product line next year, but first they want to understand better the relation between activity and factory costs as experienced with the current products. Discussions with the plant supervisor suggest that overhead seems to vary with labor-hours, machine-hours, or both. The following data were collected from last three year's operations: Quarter Machine-Hours 18,850 4 5 6 7 8 9 10 11 12 18,590 17,480 19,240 21,280 19,630 19,240 18,850 18,460 20,670 17,550 18,460 Labor-Hours 15,605 15,484 16,727 15,990 17,508 17,376 15,297 14,373 16,001 17,002 14,285 17,651 Factory costs $ 3,395,671 3,425,836 3,617,844 3,573,940 3,812,984 3,778,012 3,532,426 3,369,802 3,513, 187 3,731,434 3,325,615 3,724,486 Required: Prepare a scatter graph based on the factory cost and labor-hour data. Note: 1.…
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Table 1. The manager of Carpet City outlet store needs to be able to forecast accurately demand for Soft Shang carpet. Demand for the past 20 weeks appears in table 1 below. week Demand Forecast Error ABS. Dev Squared Error APE 1 20 2 28 3 22 4 18 5 22 6 22 7 22 8 26 9 23 10 23 11 23 12 27 13 25 14 22 15 23 16 14 17 14 18 15 19 11 20 16 21 22 23 24…
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