Question
Can you please help with my OIM homework? Can you provide detailed and organized answers? Please make sure these answers are right. Thank you! Aggregate
Can you please help with my OIM homework? Can you provide detailed and organized answers? Please make sure these answers are right. Thank you!
Aggregate demand for a product family is given in the table below for the upcoming four months (May, June, July, and August). Workers are hired or fired at the beginning of a month. The table below reports the planned number of workers in each month. The number of workers and the ending inventory in April are also reported. Pertinent details are:
- Workers are paid $2500/month and produce 50 units/month.
- Hiring costs are $270/worker hired.
- Firing costs are $460/worker fired.
- Inventory is held at a cost of $10/unit/month.
- Units can be subcontracted in any month at a cost of $60/unit.
Compute the total cost for meeting demand.
What is the total number of workers across the four months? What is the total number of workers hired across the four months? What is the total number of workers fired across the four months? What is the total of the monthly ending inventory levels for the year? What is the total of the monthly subcontracted levels for the year? What is the total cost for the year?
\begin{tabular}{||c|c|c|c|c|c|c|c|} \hline Month & Demand & \begin{tabular}{c} Number \\ Workers \end{tabular} & \begin{tabular}{c} Workers \\ Hired \end{tabular} & \begin{tabular}{c} Workers \\ Fired \end{tabular} & \begin{tabular}{c} Units \\ Produced \end{tabular} & \begin{tabular}{c} Units \\ Subcontracted \end{tabular} & \begin{tabular}{c} Units \\ Inventory \end{tabular} \\ \hline \hline April & & 10 & & & & & 60 \\ \hline \hline May & 400 & 6 & & & & & \\ \hline \hline June & 280 & 4 & & & & & \\ \hline \hline July & 800 & 17 & & & & & \\ \hline \hline August & 540 & 10 & & & & & \\ \hline \end{tabular}
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