Regular output capacity is 130 units per month. Regular cost per unit = K600. Overtime cost per unit K900. Beginning inventory is 0 units. We have the forecast of engine demand shown below: a) Develop a chase plan that matches the forecast. Calculate the cost of the plan. b) Develop a level plan that uses inventory to absorb fluctuations. Compare the costs of the level plan to the costs of the chase plan from Part (a). Inventory carrying cost per unit per month = 20. Backlog cost per unit per month = K900. There should be no backlog in the final month. Month Forecast 1 120 2 135 3 140 4 120 5 125 6 125 7 8 140 135 Total 1,040
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- Q7. The president of Rose Bowl Enterprises, Desmond Howard, projects the firms aggregate DEMAND requirements over the next 8 months as follows: These are the monthly DEMAND, not production. MONTH JAN FEB MAR APR MAY JUN JULY AUG DEMAND 1,400 1,600 1,800 1,800 2,200 2,200 1,800 1,800 PRODUCTION 1,600 from December INVENTORY 200 from Dec plus 200 His operations manager is considering a new plan, which begins in January with 200 units on hand. Stockout cost of lost sales is $100 per unit. Inventory holding cost is $20 per unit per month. Ignore any idle time costs. The plan is called plan A. Plan A: Vary the workforce level to execute a strategy that produces the quantity demanded in the prior month. The December demand was given as 1,600 units per month. Therefore, the production for JAN will be 1,600. However, only 1,400 are needed. Therefore, the extra 200 produced go into inventory and there is a holding cost for inventory. Also, per the above, you already have 200 units in inventory…Problem 2: Week Forecast Customer Orders Projected On-Hand Inventory MPS Available-to-Promise On-hand Inventory schedule production whenever projected on-hand inventory drops below MPS lot size Complete the master production schedule based on the following information 160 160 30 300 1 120 110 2 100 100 3 130 75 4 110 50 5 140 32 6 140 11 7 170 5 8 180 0Subject: Logistic management Q): calculate inventory turn over ratio, Where sales is 2,000,000COGS is 65% of sales And average inventory is 125,435 What will be inventory ratio in days and weeks
- Question 4 Right now is Quarter 2 of 2020. You are developing an aggregate production plan for 2021. rvey Suppose the beginning inventory at the first quarter of 2021 is estimated to be 196 units. ing The demand for Quarter 1 of 2021 is forecasted to be 1.208 units while the demand for Quarter 2 2021 is forecasted to be 891 units. Overtime production and subcontract will not be available in the first two quarters of 2021. If the regular production in Quarter 1 is 1,950 units and the regular production in Quarter 2 is 891 units, what is the ending inventory level in Quarter 2 of 2021?1. Osprey Machine Works has the following demand requirements and other data for the upcoming four quarters. Quarter 1 2 Previous quarter's output 2500 units Beginning inventory Stockout (backorder) cost $50 per unit Inventory holding cost Hiring workers Laying off workers What is the total cost of pursuing a level aggregate plan over the coming year? Demand 2300 2400 2600 2100 200 units 13 14 $10 per unit at end of quarter $4 per unit $8 per unit 2. Golden Eagle Machine Works has the following demand requirements and other data for th upcoming four quarters. Previous quarter's output 2500 units Beginning inventory Stockout (backorder) cost $50 per unit Inventory holding cost Hiring workers Laying off workers What is the total cost of pursuing a chase aggregate plan over the coming year? Demand 2300 2400 2600 2100 Quarter 1 200 units $10 per unit at end of quarter $4 per unit S8 per unit11. Unik hotel has the available capacity of 500 deluxe rooms, and the margin for each room is $100. The Christmas season is coming and the hotel opens booking from customers and must decide on how many orders to commit to at this time. If the hotel has orders that exceed capacity, it must arrange to upgrade the room for guests, which results in a loss of $50 per room. 2. What is the overbooking level should the hotel accept if cancellations are normally distributed, with a mean of 20 per cent of the orders accepted and a coefficient of variation of 0.5? OA) 142 B) 158 O C) 161 OD) 173
- What do figures below meanProblem 4. Considered a (s,S) system, with s = 80 and S = 200. The forecasted demand for the next 12 months is given in the following table. Initial inventory is 180, lead time is zero, and review is done at the end of every month. Find the order quantity. Mes, t 1 2 3 4 5 6 7 8 9 10 11 12 Demanda, D 65 110 | 80 150 120 90 50 170 140 125 55 80Q4) A manufacturer provides specialized microchips. During the next 3 months its sales, costs, and available time are shown in the table. Month 1 Month 2 Month 3 There are no chips in stock at the beginning of the first month. It takes 1.5 hr of production time to produce a chip and costs $5 to store a chip from one month to the next. Determine a production schedule that meets the demand requirements, does not exceed the monthly production time limitations, and minimizes cost. Note that no chips should be in stock at the end of the 3 months. Use fmincon. Chips required Cost regular time ($/chip) Cost overtime ($/chip) Regular operation time (hr) Overtime (hr) 1000 100 110 2500 100 120 2200 120 130 2400 2400 720 2400 720 720
- 14.26. Calculate the available-to-promise row in the following matrix: Period On Hand = 100 1 2 3 4 5 6 Forecast 50 100 50 100 50 100 Customer Orders 50 125 75 175 45 15 Master Production 200 200 Schedule Available-to-PromiseQUESTIONS (Using the same problem) A vendor for the local ballpark food stand is questioning whether to stock his concession with a large or small inventory. He believes that it will depend upon the size of the crowd. He has developed a payoff matrix for the various alternatives (stocking decision) and states of nature (size of crowd). What is the Expected Monetary Value (EMV)? Alternatives Large Inventory Small Inventory Probability OA) $68,400 O B)-$20,000 O C) $10,000 O D) $51,500 O E) $78,400 Large Crowd $220,000 $90,000 .20 PROFIT ($) Average Crowd $50,000 $70,000 .50 Small Crowd -$2,000 -$5,000 .30Demand for stereo headphones and MP3 players for joggers has caused Nina Industries to grow almost 50 percent over the past year. The number of joggers continues to expand, so Nina expects demand for headsets to also expand, because, as yet, no safety laws have been passed to prevent joggers from wearing them. Demand for the players for last year was as follows: MONTH DEMAND (UNITS) January February 4,100 4,200 March 3,900 April 4,300 May 4,900 June 4,600 July 5,200 August 4,800 September 5,300 October 5,600 November 6,200 December 5,900