A company's forecast of demand in shown in the following table. Regular production costs $133 per unit with a monthly capacity of 57 units. Subcontracting costs $297 per unit and has unlimited capacity. It costs $19.0 per unit per month to hold inventory and $39 per unit per month to run backlogs. Period 1 2 3 Forecast 61 76 82 What is the total cost of a LEVEL aggregate plan?
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- Southeast Soda Pop, Inc., has a new fruit drink for which it has high hopes. John Mittenthal, the production planner, has assembled the following cost data and demand forecast: demand forecast. Quarter Forecast 1 1,900 2 1,200 3 1,600 4 800 Costs/Other Data Previous quarter's output=1,200 cases Beginning inventory=0 cases Stockout cost of backorders=$160 per case Inventory holding cost=$40 per case at end of quarter Hiring employees=$35 per case Terminating employees=$80 per case Subcontracting cost=$65 per case Unit cost on regular time=$30 per case Overtime cost=$20 extra per case Capacity on regular time=1,900 cases per quarter John's job is to develop an aggregate plan. The three initial options he wants to evaluate are: • Plan A: a strategy that hires and fires personnel as necessary to meet the forecast. • Plan B: a level strategy. • Plan C: a level strategy that…A Pizza Company has a demand forecast for the next 12 months that is shown in Table 1 The current workforce of 100 staff can produce 1500 cases of pizzas per month. (a) Prepare a production plan that keeps the output level. How much warehouse space would the company need for this plan? (b) Prepare a demand chase plan. What implications would this have for staffing levels, assuming that the maximum amount of overtime would result in production levels of only 10 per cent greater than normal working hours? Table 1 demand forecast Month Demand (cases per month) January 600 February 800 March 1000 April 1500 May 2000 June 1700 July…FI The president of Hill Enterprises, Terri Hill, projects the firm's aggregate demand requirements over the next 8 months as follows: January May 2,100 February June 2,200 July 1,800 August 1,800 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 $20 per unit per month. Ignore any idle-time costs. The plan is called plan A. Calculator Ask my instructor 2 Plan A: Vary the workforce level to execute a strategy that produces the quantity demanded in the prior month. The December demand and rate of production are both 1,600 units per month. The cost of hiring additional workers is $50 per unit. The cost of laying off workers is $80 per unit. Evaluate this plan. (Enter all responses as whole numbers.) Note: Both hiring and layoff costs are incurred in the month of the change. For example, going from 1,600 in January to 1,200 in February incurs a cost of layoff…
- This company has the following aggregate demand requirements and other data for the upcoming four quarters. Quarter Demand Previous quarter's output 1500 units 1 1400 Beginning inventory 200 units 2 1000 Stockout cost $50 per unit 3 1500 Inventory holding cost $8 per unit at end of quarter 4 1300 Hiring workers $5 per unit Laying off workers $10 per unit Unit cost $30 per unit Overtime $10 extra per unit Which of the following production plans is better: Plan 1—chase demand by hiring and layoffs; or Plan 2—produce at a constant rate of 1200 and obtain the remainder from overtime? Finish the calculation. Plan 1. Demand Regular Time Capacity Regular Time Production Hire Fire Initial Inventory Period 1 1,400 1200 Period 2 1,000 Period 3 1,500 Period 4 1,300…Given the following forecast and cost information, Regular time cost $ 40.00 per unitdetermine the total cost of a plan that uses regular time Overtime cost $ 60.00 per unitproduction output of 600 units per month, overtime is subcontracting cost $ 80.00 per unitused when needed up to a maximum of 60 units per holding cost $ 10.00 per unit per monthmonth, and subcontracting is used if additional units are needed to meet the forecast.Month Forecast1 5702 6003 6304 6505 6706 690TotalsA manager has prepared a forecast of expected aggregate demand for the next six months. Develop an aggregate plan to meet this demand given this additional information: A level production rate of 1000 units per month can be used. Backorders are allowed, and they are charged at the rate of $20 per unit per month. Inventory holding costs are $1 per unit per month in ending inventory. Determine the cost of this plan if regular time cost is $10 per unit and beginning inventory is zero. Overtime costs $16 per unit and subcontracting costs $20 per unit. In the 4th month, overtime is not possible. While outsourcing is not allowed in the 3rd month. Overtime capacity is 100 units and subcontracting capacity is 100 units per month. Month Forecast 1 800 2 960 3 1120 4 1440 5…
- A manager has prepared a forecast of expected aggregate demand for the next six months. Develop an aggregate plan to meet this demand given this additional information: A level production rate of 500 units per month can be used. Backorders are allowed, and they are charged at the rate of $20 per unit per month. Inventory holding costs are $1 per unit per month in ending inventory. Determine the cost of this plan if regular time cost is $10 per unit and beginning inventory is zero. Overtime costs $16 per unit and subcontracting costs $20 per unit. In the 4th month, overtime is not possible. While outsourcing is not possible in the 3rd month. Overtime capacity is 50 units and subcontracting capacity is 50 units. Month Forecast 1 400 2 480 3 560 4 720 5…Hotel Galway is a 50 room Boutique hotel in a pop-ular city break destination in Ireland. Until recently the hotel has priced each room at $120 for bed and breakfast. On aver-age 40 rooms are occupied every weekend. The variable cost of each occupied room is $30. Following an internal review man-agement has decided to try a revenue management approach, with rooms priced at $90 for bookings up to one week early and $180 for bookings within a week of their stay. It is esti-mated the hotel will sell 28 rooms at the lower price and 14 at the higher price. Variable costs will not change. Recommendwhich approach is the most feasible.Capacity planning requires a demand forecast for an extended period of time into the future. What concerns would you have regarding an extended forecast as a capacity planner?
- Plan production for a four-month period (February through May). Given information: For February and March, you should produce to exact demand forecast. For April and May, you should use overtime and inventory with a stable workforce; stable means that the number of workersneeded for March will be held constant through May. However, government constraints put a maximum of 5,000 hours of overtime labor per month in April and May (zero overtime in February and March). If demand exceeds supply, then backorders occur. There are 100 workers on January 31. You are given the following demand forecast: February, 80,000; March, 64,000; April, 100,000; May, 40,000. Productivity is four units per worker hour, eight hours per day, 20 days per month. Assume zero inventory on February 1. Costs are hiring, $50 per new worker; layoff, $70 per worker laid off; inventory holding, $10 per unit-month; straight-time labor, $10 per hour; overtime, $15 per hour; backorder, $20 per unit.Deb Bishop Health and Beauty Products has developed a new shampoo and you need to develop its aggregate schedule. The cost accounting department has supplied you the cost relevant to the aggregate plan and the marketing department has provided a four-quarter forecast. the four-quarter forecast. Quarter Forecast 1 1,400 2 1,100 3 1,700 4 1,300 aggregate plan. Costs Previous quarter's output 1,600 units Beginning inventory 0 units Stockout cost for backorders $55 per unit Inventory holding cost $11 per unit for every unit held at the end of the quarter Hiring workers $50 per unit Layoff workers $75 per unit Unit cost $35 per unit Overtime $20 extra per unit Subcontracting Not available Your job is to develop an aggregate plan for the next four quarters. Part 2 a) Try hiring and layoffs (to meet the forecast) as necessary (enter your responses as whole…Suppose XYZ Company has the following aggregate demand requirements and other data for the upcoming four quarters. Quarter Demand Other Data 1 1300 Previous quarter’s output 1500 Units 2 1400 Beginning Inventory 200 units 3 1500 Stock out cost 50$ per unit 4 1300 Inventory holding cost 10 $ per unit Hiring Workers 4$ per unit Firing workers 8$ per unit Unit Cost 30$ per unit Overtime 40 $ per unit Question: Which of the following production plans is better: –Plan A—chase demand by hiring and firing –Plan B—produce at a constant rate of 1200 and obtain the remainder from overtime?