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 1,020, 1,480, and 1,180, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February, and 21 in March. Beginning inventory is 480 units. Manufacturing cost is $160 per unit, storage cost is $6 per unit per month, standard pay rate is $6 per hour, overtime rate is $9 per hour, cost of stockout is $8 per unit per month, hiring and training cost is $140 per worker, layoff cost is $240 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 42 workers and that they work 8 hours per day. (Round Workers Required up to the next higher whole number. Round all other variables off to the nearest whole number. Use previous rounded answers as required to compute subsequent answers. Input all values as positive values. Leave no cells blank - be certain to enter "0" wherever required.) Forecast Safety stock Beginning inventory Net production required Workers required Hired Laid off Actual production Ending inventory Labor Inventory Hiring Layoff Total S January 1,020 January C February 1,480 February Total March March 1,180

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 1,020, 1,480, and 1,180, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February, and 21 in March. Beginning inventory is 480 units. Manufacturing cost is $160 per unit, storage cost is $6 per unit per month, standard pay rate is $6 per hour, overtime rate is $9 per hour, cost of stockout is $8 per unit per month, hiring and training cost is $140 per worker, layoff cost is $240 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 42 workers and that they work 8 hours per day. (Round Workers Required up to the next higher whole number. Round all other variables off to the nearest whole number. Use previous rounded answers as required to compute subsequent answers. Input all values as positive values. Leave no cells blank - be certain to enter "0" wherever required.) Forecast Safety stock Beginning inventory Net production required Workers required Hired Laid off Actual production Ending inventory Labor Inventory Hiring Layoff Total S January 1,020 January C February 1,480 February Total March March 1,180

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter19: Pricing Concepts

Section: Chapter Questions

Problem 6DRQ

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