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The demand forecasts for the next four quarters pertaining to a firm, that produces a single product line, are: 1200, 2000, 1500 and 1000 standard product units, respectively. Each standard product requires 10 direct labor hours to produce. The production facility operates on the basis of a single 8 - hour shift per day and each quarter consists of approximately 500 regular time hours. Overtime work is allowed to the extent that no worker works more than a total of 10 hours on any given day. Average regular time wages are $10 per hour, with a 50% premium for overtime. Material and overhead costs amount to about $100 per standard product. The inventory holding cost is estimated to be $80/standard product unit/year and backordering is allowable at a cost of about $50/standard product unit /quarter. Hiring and layoff costs are, respectively, $500 and $350 per employee. Currently, 24 production workers are employed and the finished goods inventory consists of 100 standard product units (no in - process inventory). The maximum workforce size for this facility is 30 employees. Management desires that there be no finished goods inventory or any backorders at the end of the current planning horizon.
(a) Formulate (i.e. clearly define all decision variables, then construct the objective function and all constraints in algebraic format) a linear optimization model for finding the optimal SOP for this firm.
(b) Determine this firm’s optimal aggregate sales and operations plan via Excel/Solver.
a grocery store carries a particular brand of coffee that has the following characteristicssales 8 cases per
Construct the types of reports and how they will be delivered. Discuss how this might be integrated into the change management process. Define who has the final authority for sign-off to extract from the contingency budget to mitigate risks.
With the growth of Hard Rock Cafe - from one pub in London in 1971 to more than 110 restaurants in more than 40 countries today - came a corporate wide demand for better forecasting.
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Marty, the owner of T-Rex’s Auto Parts, is hosting a meeting for the entire company next week. Marty noticed a decrease in productivity and revenue. What initiatives need to be accomplished to ensure success? What standards are we striving for? What ..
which of the following is not required to be proven to hold a defendant liable for negligent conduct?
Prepare a list of four questions that you would ask the project manager to determine project milestones and how the progress of the multiple project are tracked.
it costs 115 to place an order for inventory item q54 regardless of the order quantity. item q54s purchase cost is
Describe the rationale for utilizing probability concepts. Is there more than one type of probability? If so, describe the different types of probability.
Why is it difficult for labor negotiators to switch from traditional to integrative bargaining? What recommendations would you make for negotiators trying to make this switch? Why is it more difficult for union negotiators to make this change comp..
How would you explain this outcome when intuitively you would think that a negotiator who is more focused on power would be more successful?
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