Operations Management
13th Edition
ISBN: 9781259667473
Author: William J Stevenson
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 11, Problem 21P
Prepare a master
Use a production lot size of 75 units and no beginning inventory.
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Prepare a graph of the monthly forecasts and average forecast demand for Chicago Paint Corp., a manufacturer of specialized paint for artists.
Compute the demand per day for each month (round your responses to one decimal place).
Month
B
Production Days
Demand Forecast
Demand per Day
January
21
950
February
19
1,150
March
21
1,150
April
20
1,250
May
23
1,200
June
22
1,000'
July
20
1,350
August
21
1,250
September
21
1,050
October
21
1,050
November
21
December
225
950
19
850
The president of Hill Enterprises, Terri Hill, projects the firm's aggregate demand requirements over the next 8 months as follows:
2,300
January
1,500
May
February
1,700
June
2,100
March
April
1,700
1,700
July
August
1,900
1,500
Her operations manager is considering a new plan, which begins in January with 200 units of inventory on hand. Stockout cost of lost sales is $125 per unit. Inventory holding cost is $25 per unit per month.
Ignore any idle-time costs. The plan is called plan C.
Plan C: Keep a stable workforce by maintaining a constant production rate equal to the average gross requirements excluding initial inventory and allow varying inventory levels.
Conduct your analysis for January through August.
The average monthly demand requirement = units. (Enter your response as a whole number.)
In order to arrive at the costs, first compute the ending inventory and stockout units for each month by filling in the table below (enter your responses as whole numbers).
Ending
E
Period…
Mention four early warning indicators that a business may be at risk.
Chapter 11 Solutions
Operations Management
Ch. 11 - What three levels of planning involve operations...Ch. 11 - What are the three phases of intermediate...Ch. 11 - Prob. 3DRQCh. 11 - Why is there a need for aggregate planning?Ch. 11 - What are the most common decision variables for...Ch. 11 - Prob. 6DRQCh. 11 - Briefly discuss the advantages and disadvantages...Ch. 11 - What are the primary advantages and limitations of...Ch. 11 - Briefly describe the planning techniques listed as...Ch. 11 - What are the inputs to master scheduling? What are...
Ch. 11 - Prob. 11DRQCh. 11 - What general trade-offs are involved in master...Ch. 11 - Who needs to interface with the master schedule...Ch. 11 - How has technology had an impact on master...Ch. 11 - Service operations often face more difficulty in...Ch. 11 - Name several behaviors related to aggregate...Ch. 11 - Compute the total cost for each aggregate plan...Ch. 11 - A manager would like to know the total cost of a...Ch. 11 - Determine the total cost for this plan given the...Ch. 11 - a. Given the following forecast and steady regular...Ch. 11 - Manager T. C. Downs of Plum Engines, a producer of...Ch. 11 - Manager Chris Channing of Fabric Mills, Inc., has...Ch. 11 - SummerFun. Inc., produces a variety of recreation...Ch. 11 - Nowjuice, Inc., produces Shakewell fruit juice. A...Ch. 11 - Wormwood, Ltd., produces a variety of furniture...Ch. 11 - Refer to Solved Problem 1. Prepare two additional...Ch. 11 - Refer to Solved Problem 1. Suppose another option...Ch. 11 - Prob. 12PCh. 11 - Prob. 13PCh. 11 - Prob. 14PCh. 11 - Prob. 15PCh. 11 - Refer to Example 3. Suppose that regular-time...Ch. 11 - Prob. 17PCh. 11 - Prob. 18PCh. 11 - Prepare a master production schedule for...Ch. 11 - Update the master schedule shown in Figure 11.11...Ch. 11 - Prepare a master schedule like that shown in...Ch. 11 - Determine the available-to-promise (ATP)...Ch. 11 - Prepare a schedule like that shown in Figure 11.12...Ch. 11 - The objective is to choose the plan that has the...Ch. 11 - Prob. 2CQ
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- 1. Define risk management and explain its importance in a small business. 2. Describe three types of risks commonly faced by entrepreneurs. 3. Explain the purpose of a risk register. 4. List and briefly describe four risk response strategies. (5 marks) (6 marks) (4 marks) (8 marks) 5. Explain how social media can pose a risk to small businesses. (5 marks) 6. Identify and describe any four hazard-based risks. (8 marks) 7. Mention four early warning indicators that a business may be at risk. (4 marks)arrow_forwardState whether each of the following statements is TRUE or FALSE. 1. Risk management involves identifying, analysing, and mitigating risks. 2. Hazard risks include interest rate fluctuations. 3. Entrepreneurs should avoid all forms of risks. 4. SWOT analysis is a tool for risk identification. 5. Scenario building helps visualise risk responses. 6. Risk appetite defines how much risk an organisation is willing to accept. 7. Diversification is a risk reduction strategy. 8. A risk management framework must align with business goals. 9. Political risk is only relevant in unstable countries. 10. All risks can be eliminated through insurance.arrow_forward9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward
- 8. Early warning indicators help businesses to A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward10. Which risk category refers to taking advantage of a new opportunity despite potential challenges? A. Hazard B. Uncertainty C. Opportunity D. Strategicarrow_forward6. A business continuity plan is mainly used to_ A. Increase profits B. Handle daily tasks C. Prepare for disruptions D. Advertise services 7. What is the role of a risk owner? A. To finance the risk B. To monitor and manage a specific risk C. To create risks D. To avoid planning 8. Early warning indicators help businesses to_ A. Avoid legal actions B. Grow rapidly C. Detect potential risks D. Hire employees 9. A hazard-based risk includes_ A. Political instability B. Ergonomic issues C. Market demand D. Taxation changesarrow_forward
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