Problem 4 (20 points) H&M, a TV manufacturers, is in need of an aggregate plan for July-December period. The company has gathered the following data. The current workforce is 8 workers Month 1 2 3 4 5 6 Demand 300 500 550 700 801) 700 Inventory holding cost Hiring workers Laying off workers Regular time labor cost Overtime labor cost Labor hour TV Working hours per month AED 8 per TV per month AED 4000 per labor AED 8000 per labor AED 10 per TV AED 16 per TV 4 hours 160 hours Which of the Chase and Level production plans is better? Hiring Firing Period 1 Period 2 Period Perioda Period 5 Penod Totul (unit) Demand 300 500 550 700 800 700 3550 workforce Regular Time Inventory Production 8 320 20 12 480 14 560 10 18 720 30 20 800 30 17 680 10 3550 100 GARD 10 unit ARD X/unit 35 550 SOO 4 2 + 2 12 AED 4000 48000 3 3 AED 000 34000 Sablatul Costs Local 107 ROC Number of workery 3550*4/(160*6) 15 workers Inventory Kegular Time Production Pen DD 100 500 350 Problem 4 (20 points) H&M, a TV manufacturers, is in need of an aggregate plan for July-December period. The company has gathered the following data. The current workforce is 8 workers Month 1 2 3 4 5 6 Demand 300 500 550 700 801) 700 Inventory holding cost Hiring workers Laying off workers Regular time labor cost Overtime labor cost Labor hour TV Working hours per month AED 8 per TV per month AED 4000 per labor AED 8000 per labor AED 10 per TV AED 16 per TV 4 hours 160 hours Which of the Chase and Level production plans is better? Hiring Firing Period 1 Period 2 Period Perioda Period 5 Penod Totul (unit) Demand 300 500 550 700 800 700 3550 workforce Regular Time Inventory Production 8 320 20 12 480 14 560 10 18 720 30 20 800 30 17 680 10 3550 100 GARD 10 unit ARD X/unit 35 550 SOO 4 2 + 2 12 AED 4000 48000 3 3 AED 000 34000 Sablatul Costs Local 107 ROC Number of workery 3550*4/(160*6) 15 workers Inventory Kegular Time Production Pen DD 100 500 350