1. Sit-Yuen Foo has produced monthly forecasts of demand for a family ofproducts as shown below. At the end of each month he reviews performance,and assigns a notional holding cost of $30 for every unit held in stock. If thereare shortages, 20 per cent of orders are lost with a cost of $300 a unit, and therest are met by back-orders, with a cost of $75 a unit. Each time the productionrate changes there is a cost of $22,500. Designed capacity is 600 units a month,but utilization seldom reaches 80 per cent. How can Sit-Yuen Foo design anaggregate plan for the products?Month346.7810Aggregate demand 460 420 390 450 540 375 240 150 100 210

Find the Given details below: Month 1 2 3 4 5 6 7 8 9 10 Total Aggregate demand 460 420 390 450…

Answered: Sit-Yuen Foo has produced monthly…

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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A bakery wants to determine how many trays of doughnuts it should prepare each day. Demand is normal with a mean of 5 trays and standard deviation of 1 tray. If the owner wants a service level of at least 95%, how many trays should he prepare (rounded to the nearest whole tray)? Assume doughnuts have no salvage value after the day is complete. A 5 B 4 C 6 D 7 E Unable to determine with the above information
can you help me with this, show me how to do on excel plz
You have the data on the application during the 6 consecutive years below Requirement / Find the expected demand for the year 2008 using the simple moving average method The basis of three periods of time the years 2002 2003 2004 2005 2006 2007 2008 Order quantity 10 20 30 40 50 60
Product Cost under Full vs. Variable Costing Kate’s Kale Chips produces a healthy snackmade primarily of kale. Each bag of the product sells for $5. The company computes the manufacturing overhead rate on a quarterly basis based upon the planned number of units to be produced thatquarter. The following data are from the projections of Kate’s Kale Chips for the upcoming quarter:[LO 18-4]ProjectionsSales 20,000 bagsProduction 22,000 bagsVariable manufacturing cost per bag $2.00Sales and distribution costs per bag $0.15Total fixed manufacturing overhead $33,000Fixed administrative overhead $18,000Required1. Compute the projected product cost per bag produced under full costing.2. Compute the projected product cost per bag under variable costing
11.5 If sigma is 150 units, and the demand during the lead time is 200 units, calculate the safety stock and order point for: a. A 50% service level. b. An 85% service level.
1. A local producer of vegetables is deciding how much inventory to have to meet the next week's demand. Vegetable products are perishable with a shelf-life of a week. Based on the historical observations, the company expects the weekly demand to follow a normal distribution with mean 4500 pounds and standard deviation of 400 pounds. The price of the product is $14 per pound in the store, and it costs $6 to produce. If there are any leftovers, the company is required to dispose them safely to avoid any pollution. This process costs $0.5 per pound. Answer the following questions. a) What is the cost of overage per pound? b) What is the cost of underage per pound? c) What is the optimal order quantity?
Assuming Normal Distribution, what would the optimal (s,Q) policy be for the given parameters below? Given data: Demand daily has mu = 1768, sigma = 5.37, with a unit purchased cost is $15 (annual interest rate is 20%). The order cost is $50 with a back ordering cost of $25. The order lead time is 3 days.
Chris usually sells 120 copies of newspaper each day and believe that sale are normally distributed, with a standard deviation of 15 papers. He pays 70 cents for each paper, which sells $1.25. For each unsold paper, he receives 30-cent credit. a) determine how many papers he should order each day b) calculate the stockout risk for that quantity.
Furnco sells secretarial chairs. Annual demand isnormally distributed, with mean of 1,040 chairs and standarddeviation of 50.99 chairs. Furnco orders its chairs from itsflagship store. It costs $100 to place an order, and the leadtime is two weeks. Furnco estimates that each stockoutcauses a loss of $50 in future goodwill. Furnco pays $60 foreach chair and sells it for $100. The annual cost of holdinga chair in inventory is 30% of its purchase cost.a Assuming that all demand is backlogged, what arethe reorder point and the safety stock level? b Assuming that all stockouts result in lost sales, de-termine the optimal reorder point and the safety stock level.
A department store uses a (Q, R) policy to control its inventories. Sales of a pocket FM radioaverage 1.4 radios per week. The radio costs the store $50.00, and fixed costs of replenishmentamount to $20.00. Holding costs are based on a 20 percent annual interest charge, and thestore manager estimates a $12.50 cost of lost profit and loss of goodwill if the radio is demanded when out of stock. Reorder lead time is 2 weeks, and statistical studies have shownthat demand over the lead time is accurately described by a Poisson distribution. Find the optimallot sizes and reorder points for this item.
1. Demand for walnut fudge ice cream at the Sweet Cream Dairy can be approximated by a normal distribution with a mean of 21 gallons per week and a standard deviation of 5 gallons per week. The new manager desires a service level of 90 percent. Lead time is 8 days, and the dairy is open seven days a week. (Hint: Work in terms of weeks.) If the ROP model is used, what is the appropriate  safety stock level  to achieve the desired service level? Round to two decimal places. Answer: _________
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