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In the table below is a production schedule for a manufacturer. James have been hired on to figure out the optimal 6 month production schedule
In the table below is a production schedule for a manufacturer. James have been hired on to figure out the optimal 6 month production schedule using the Wagner-Whitin Algorithm. Explain the rationale behind the answer you found and what is the most dominant variable in your calculations? C6, C5 and C4 are given. Calculate C3, C2 and C1. Please show calculations
Period (t) | 1 | 2 | 3 | 4 | 5 | 6 |
Demand (Dt) | 1000 | 300 | 500 | 200 | 800 | 1000 |
Unit Cost (ct) | 21 | 21 | 21 | 21 | 21 | 21 |
Setup Cost (At) | 326 | 326 | 326 | 326 | 326 | 326 |
Holding Cost (ht) | 54 | 54 | 54 | 54 | 54 | 54 |
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