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The forecast for monthly demand is given below. On average there are 22 production days in a month. It takes one worker three days to complete one unit. The current production work force level is 50 employees. The cost of hiring an employee is $500, and the cost of firing an employee is $450. Regular time pay per employee is $1,250 per month. The cost to hold an ending inventory for a month is $4 per unit. The current level of inventory is 800 units. As protection against unforeseeable demand fluctuations, the ending inventory for each month is planned at no less than but as close as to 800 units. Develop separate production plans for chase and level strategies. What is the cost over 12 periods for each plan? Which plan is better?
Planning period Monthly demand 1 372 2 414 3 395 4 381 5 418 6 359 7 386 8 398 9 409 10 417 11 421 12 425
How much should be ordered (rounded to the nearest integer) each time to minimize the restaurant's total annual costs? And what is the length of order cycles (i.e. time between orders) in days? Assume the restaurant operates 360 days per year.
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Why whould it be harder for heavily unionized organizations to settle on their bargaining targets than for those with a small proportion of unionized employees?
Formulate and solve this LP production- mix situation, and find the best combination of air conditioners and fans that yields the highest profit.
Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced.
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Shirley Hopkins is developing a problem in leadership training for middle-level managers. Shirley has listed a number of activities that must be completed before a training program of this nature could be conducted.
determine the number of units where either choice has the same cost.
You have a product in mind you want to manufacture. You have also developed a good business plan and are sure you will have no problem with financing.
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