Question
Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem. The monthly forecasts for Product
Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem.
The monthly forecasts for Product X for January, February, and March are and respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are working days in January, in February, and in March. Beginning inventory is units.
Manufacturing cost is $ per unit, storage cost is $ per unit per month, standard pay rate is $ per hour, hiring and training cost is $ per worker, layoff cost is $ per worker, and worker productivity is unit per hour. Assume that you start off with workers and that they work hours per day. Leave no cells blank be certain to enter wherever required. Input all values as positive values. Round Workers Required up to next higher whole number. Round all other variables to nearest whole number.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To solve this problem regarding product demand forecasts safety stock and beginning inventory follow these steps Step 1 Calculate Safety Stock The saf...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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