WILL RATE!!!!!
Consider the case of Classic Boat Corporation to answer questions 20 and 21: The Classic Boat Corporation produce three boat model kits: wooden boats, sailboats and yachts. Each boat is built in the manufacturing department and then packaged before being shipped to distributers. The cost of raw material for the three models for the first month is $100, $125 and $145 per unit and is expected to increase by 10% each month. Required labor hours per unit Model Selling price Manufacturing Packaging Wooden boats 1 0.5 $500 Sailboats 1.5 0.5 $750 Yachts 0.75 0.5 $850 The company has a beginning inventory of 100 wooden boats, and demand for the months are 2000 units in month one, 4000 units in month two, 3000 units in month three, and 1500 units in month four. The sailboats are a newly introduced product so there is no inventory on hand but the demand for the upcoming four months are estimated to be 500, 650, 700 and 2800 units respectively. The monthly demand for yachts are 2500, 2750, 2300, and 1500 per month and the company has only 10 units available in inventory. The cost of holding inventory in months one and two is $3 per unit and $2 per unit in months three and four. The inventory holding cost applies to the average level of inventory during each month ( average inventory of a month is defined as the average of the begging and the ending inventory of that month). The manager wants to identify production levels (for each product in each month) and staffing levels (for each month) to satisfy demand with minimal cost. The decision variables are defined as: where i=w,s,y Xit= number of type i boats produced in month t and t=1,2,3,4 Bit = beginning inventory of type i boats in month t where i=w,s,y and t=1,2,3,4 Using only the decision variables defined here, formulate the total inventory cost for the Wooden boats in the Classic Boat Corp Scenario. where i=w,s,y Xit= number of type i boats produced in month t and t=1,2,3,4 Bit = beginning inventory of type i boats in month t where i=w,s,y and t=1,2,3,4 Using only the decision variables defined here, formulate the total inventory cost for the Wooden boats in the Classic Boat Corp Scenario. where i=w,s,y Xit= number of type i boats produced in month t and t=1,2,3,4 Bit = beginning inventory of type i boats in month t where i=w,s,y and t=1,2,3,4 Consider the case of Classic Boat Corporation to answer questions 20 and 21: The Classic Boat Corporation produce three boat model kits: wooden boats, sailboats and yachts. Each boat is built in the manufacturing department and then packaged before being shipped to distributers. The cost of raw material for the three models for the first month is $100, $125 and $145 per unit and is expected to increase by 10% each month. Required labor hours per unit Model Selling price Manufacturing Packaging Wooden boats 1 0.5 $500 Sailboats 1.5 0.5 $750 Yachts 0.75 0.5 $850 The company has a beginning inventory of 100 wooden boats, and demand for the months are 2000 units in month one, 4000 units in month two, 3000 units in month three, and 1500 units in month four. The sailboats are a newly introduced product so there is no inventory on hand but the demand for the upcoming four months are estimated to be 500, 650, 700 and 2800 units respectively. The monthly demand for yachts are 2500, 2750, 2300, and 1500 per month and the company has only 10 units available in inventory. The cost of holding inventory in months one and two is $3 per unit and $2 per unit in months three and four. The inventory holding cost applies to the average level of inventory during each month ( average inventory of a month is defined as the average of the begging and the ending inventory of that month). The manager wants to identify production levels (for each product in each month) and staffing levels (for each month) to satisfy demand with minimal cost. The decision variables are defined as: where i=w,s,y Xit= number of type i boats produced in month t and t=1,2,3,4 Bit = beginning inventory of type i boats in month t where i=w,s,y and t=1,2,3,4 Using only the decision variables defined here, formulate the total inventory cost for the Wooden boats in the Classic Boat Corp Scenario. where i=w,s,y Xit= number of type i boats produced in month t and t=1,2,3,4 Bit = beginning inventory of type i boats in month t where i=w,s,y and t=1,2,3,4 Using only the decision variables defined here, formulate the total inventory cost for the Wooden boats in the Classic Boat Corp Scenario. where i=w,s,y Xit= number of type i boats produced in month t and t=1,2,3,4 Bit = beginning inventory of type i boats in month t where i=w,s,y and t=1,2,3,4
