Question
Again, consider the company and the attached template in Question 2. Now, instead of the chase strategy, use Excel solver to find a sales and
Again, consider the company and the attached template in Question 2. Now, instead of the chase strategy, use Excel solver to find a sales and operations plan that minimizes the cost while making sure that the company meets the minimum of 5 days of supply from January through May. Use $200 for the cost of hiring per employee, $500 for the cost of layoff per employee, and 2% as the end-of-month inventory carrying cost. Assume that you need 1,000 units in inventory at the end of June, and that the company cannot produce a negative quantity in any month. Answer the following questions based on the results you receive after the cost optimization.
a) In [ Select ] ["February", "March", "May", "April", "January"] , we hold an inventory of less than 1,000 units (according to the plan).
b) In how many months, from January through June, does the company work with more than 50 employees? [ Select ] ["3", "5", "1", "2", "6", "4"]
c) Complete the following table.
Month | Number of Hires | Number of Layoffs |
January | [ Select ] ["0", "114", "20", "11", "14", "37"] | [ Select ] ["11", "0", "114", "14", "20", "37"] |
February | [ Select ] ["114", "0", "37", "11", "20", "14"] | [ Select ] ["0", "37", "14", "11", "20", "114"] |
March | [ Select ] ["11", "0", "14", "114", "37", "20"] | [ Select ] ["20", "14", "11", "0", "37", "114"] |
April | [ Select ] ["20", "0", "114", "11", "37", "14"] | [ Select ] ["14", "20", "114", "37", "0", "11"] |
May | [ Select ] ["14", "114", "20", "0", "11", "37"] | [ Select ] ["0", "114", "20", "14", "37", "11"] |
June | [ Select ] ["20", "11", "37", "114", "14", "0"] | [ Select ] ["11", "114", "14", "20", "37", "0"] |
d) Approximately, what is the total cost of hiring, laying off, and holding inventory in the optimized plan? $ [ Select ] ["332,760", "275,742", "256,321", "313,338"]
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