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The forecast for monthly demand is given below. On average there are 22 production days in a month. It takes one worker three days to complete one unit. The current production work force level is 50 employees. The cost of hiring an employee is $500, and the cost of firing an employee is $450. Regular time pay per employee is $1,250 per month. The cost to hold an ending inventory for a month is $4 per unit. The current level of inventory is 800 units. As protection against unforeseeable demand fluctuations, the ending inventory for each month is planned at no less than but as close as to 800 units. Develop separate production plans for chase and level strategies. What is the cost over 12 periods for each plan? Which plan is better?
Planning period Monthly demand 1 372 2 414 3 395 4 381 5 418 6 359 7 386 8 398 9 409 10 417 11 421 12 425
Use different scheduling rules to achieve different objectives as listed below also provide a rationale for each of the responses: Minimize the throughput time. Minimize the lateness of all jobs.
Explain how much of a leading edge do you think that organisations utilizing these tools also techniques in an integrated manner might gain from the point of view of corporate performance.
Briefly describe DIMCO's supply chain, What are the advantages that DIMCOO can gain by implementing supply chain management?
You've just been made a manager in Sweden, known for its institutional collectivism. What incentives and reward structures would you use to motivate your employees? How would you prepare workers for an overseas assignment?
Elucidate how many immediate parents (one level above) does item I have. Elucidate how many immediate parents does item E have. Elucidate how man unique components does product A have at all levels. Which of components are purchased items.
A drug company produces the drug NasaMist from four chemicals. Find out the cheapest manner of producing today's batch of NasaMist.
Assuming the retailer's order interval is one week and lead time is same as 2 days. The average on-hand inventory is 5 items at the end of each week. Decide the order quantities using fixed order interval model.
Forecast the number of accidents that will occur in May, using least-squares regression to derive a trend equation.
A will make a fixed 7.95 percent payment to B, also B will make a floating rate payment equal to LIBOR to A. Illustrate what are resulting net payments of A also B.
Image text transcribed for accessibility: In what way can improper incentives lead to a lack of coordination in a supply chain? What countermeasures can be used to offset this effect?
During busy periods, a new customer walks into LHS every 15 minutes. At SHC, a customer walks in every hour
A company is trying to decide in two location options, Albany and Baltimore. Albany would result in yearly fixed costs of $60,000, labor costs of $7 per unit,
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