Reference no: EM131524305

Create a semiannual production plan for your new business idea, product, or service using notional demand and inventory data. This initial production plan is based on your market estimates of what you intend to sell and produce.

The final paper is managing the project to implement your intended new product/service into the marketplace, but you have to create a production plan that is supported by your market forecasts, and that is the purpose of this assignment.

Prompt: The plan should replicate the techniques in the text and can be submitted in a basic tabular (spreadsheet) format. It must include the following:

• Estimates of labor hours consumed
• Estimated number of worker requirements considering a standard workweek, current inventory levels, receipts of new inventory during each month, and varying demand levels for each month of production

For service businesses that do not include inventory or raw goods for the assembly line, the inventory of the support materials/equipment or consumable materials can be used.

Specifically, the following critical elements must be addressed:

• Create a semiannual production plan using notional demand and inventory.
• Estimate the labor hours consumed.
• Estimate the number of worker requirements considering a standard workweek, current inventory levels, receipts of new inventory during each month, and varying demand levels for each month of production.