Find the minimum constant workforce, Applied Statistics

Assignment Help:

Find the minimum constant workforce:

ABC Company, a manufacturer of roofing supplies, has developed monthly forecasts for roofing tiles. The forecasted demand and the expected production days for months January to June in 2013 are given below:

Month

Forecasted demand (units)

Production days

January

1200

22

February

2500

19

March

1300

21

April

3500

20

May

1200

22

June

1700

20

ABC works 8 regular hours in each working day and past experience shows that one worker takes 2 hours to produce one tile. The company has estimated that there would be 6 production workers working in December 2012 and 550 tiles in inventory at the end of December 2012. Labor Union restricts ABC that overtime hours cannot exceed 20% of straight time (regular) hours in each month. ABC wants to keep at least 200 tiles in inventory at the end of June 2013. ABC has the following cost information:

Inventory holding cost

$5/unit/month

Backorder cost

$12/unit

Subcontracting cost

$28/unit

Straight time labor cost

$10/hour

Overtime cost

$20/hour

Hiring cost

$1000

Firing cost

$2000

If ABC allows backorders but does not want to use subcontracting or overtime,

a. Find the minimum constant workforce required to meet the above requirement (level production strategy).

b. Develop an aggregate production plan with the minimum constant workforce obtained in part (a) (level production strategy).

c. Estimate the total cost of the plan in (b).

If ABC wants to maintain zero inventory at the end of each month in 2013 except June, and does not want to use subcontracting or overtime,

d. Develop an aggregate production plan with zero inventory policy (chase strategy with flexible working hours).

e. Estimate the total cost of the plan in (d)


Related Discussions:- Find the minimum constant workforce

Two methods of isolating trend values in a time series, a) What is meant by...

a) What is meant by secular trend? Discuss any two methods of isolating trend values in a time series.

Use event rule ot estimates the claim, Make a decision about the given clai...

Make a decision about the given claim. Use only the rare event rule, and make subjective estimates to determine whether events are likely. For example, if the claim is that a coi

Calculate the ratio of the sample standard deviation, The Case Study includ...

The Case Study included information about the price for a full meal before and after the law change (in dollars).  Of interest is whether the differences in price for a full meal b

Measurement errors models, How can we analyse data with four bilateral resp...

How can we analyse data with four bilateral response variables measured with errors and three covariated measured without errors?

Vector of a company, Suppose both the Repair record 1978 and Company headqu...

Suppose both the Repair record 1978 and Company headquarters are believed to be significant in explaining the vector (Price, Mileage, Weight). Here, because of the limited sample s

Find the relation between two substance, Find the Relation between two subs...

Find the Relation between two substance: The following table shows the results obtained in experiments aimed to determine how solubility of water in benzene depends on tempera

Mean deviation, First Moment of Dispersion or Mean Deviation Mean devia...

First Moment of Dispersion or Mean Deviation Mean deviation or the average deviation is the measure if dispersion which   is based upon all the items in a variable .It is the a

Express the null hypothesis, Examine the given statement, then express the ...

Examine the given statement, then express the null hypothesis H0 and the alternative hypothesis H1 in symbolic form. The mean weight of women who won a beauty pageant is equal t

Introduction to probability, Introduction to Probability A ...

Introduction to Probability A student is considering whether she should enroll in an MBA educational program offered by a well-known college. Among othe

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd