5XMonthfxBCDEFGHProblem 7 Given the following forecast and cost information, determinethe total cost of a chase plan that uses regular time productionoutput of 400 units per month, overtime is used when neededup to a maximum of 40 units per month, and subcontractingis used if additional units are needed to meet the forecast.123456FontForecastCover440400450460480490TotalsProblem 6Accessibility: Investigate√5LevelProduction.ProductionOvertimeProblem 7AlignmentSubcontractingInventoryTotalHoldingCostProblem 8 Problem 18FNumberTyCostsFormatting TableStylesProduction Costs.RegularOvertimeSubcontracting $555E50.0065.0075.00Regular Time Overtime Subcontracting Total CostM

Find the Given details below: Month123456TotalForecast4404004504604804902720Note that, inventory…

Answered: roblem 7 Given the following forecast…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 46P

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Product A is an assemble-to-order product. It has a lot size of 150, and currentlyhas an on-hand inventory of 110 units. There is a 2-week demand time fence and a12-week planning time fence. The following table gives the original forecast and theactual customer orders for the next 12 weeks:Week 1 2 3 4 5 6 7 8 9 10 11 12Forecast 80 80 80 70 70 70 70 70 70 70 70 70Demand 83 78 65 61 49 51 34 17 11 7 0 0a. Given this information, develop a realistic master schedule, complete with ATPlogic.b. Tell how you would respond to each of the following customer order requests.Assume these are independent requests, and do not have cumulative effects.■ 20 units in week 3■ 40 units in week 5■ 120 units in week 7
Given the following forecast and cost information, determine Production Coststhe total cost of a chase plan that uses regular time production Regular $ 50.00output of 400 units per month, overtime is used when needed Overtime $ 65.00up to a maximum of 40 units per month, and subcontracting Subcontracting $ 75.00is used if additional units are needed to meet the forecast.Month Forecast1 4302 4003 4404 4505 4806 480Total
A manager would like to know the total cost of a chase strategy that matches the forecast belowusing a steady regular production rate of 200 units a month, a maximum of 20 units per month ofovertime, and subcontracting as needed to make up any shortages. The unit costs are:Regular production = $35Overtime = $70Subcontracting = $80Month 1 2 3 4 5 6Forecast 230 200 240 240 250 240
Q2: A company has seasonal demand, with the forecast for the next 12 months as given below. The current labor force can produce 500 units per month. Each employee can produce 20 units per month, and is paid $2,000 per month. The inventory carrying cost is $50 per unit per period. It costs $100 to hire or layoff an employee. Assume 200 units of initial inventory and we would like to keep the similar level at the end of the year. Month 1 3 4 7 8 9 10 11 12 Demand 660 700 840 700 660 500 600 840 80 900 700 600 Please use level and chase strategy to calculate the total cost of two plans (please show your work).
3. A toy manufacturer makes stuffed kittens and puppies which have relatively lifelike motions. There are three different mechanisms that can be installed in these "pets." These toys will sell for the same price regardless of the mechanism installed, but each mechanism has its own variable cost and setup cost. Profit, therefore, is dependent upon the choice of mechanism and upon the level of demand. The manufacturer has in hand a forecast of demand that suggests a 0.2 probability of light demand, a 0.45 probability of moderate demand, and a probability of 0.35 of heavy demand. Payoffs for each mechanism-demand combination appear in the table below. Wind-up action Pneumatic action Electronic action Demand Light Moderate $250,000 $90,000 -$100,000 400,000 440,000 400,000 Heavy 650,000 740,000 780,000 Construct the appropriate decision tree to analyze this problem. Use standard symbols for the tree. Analyze the tree to select the optimal decision for the manufacturer.
The historical data for 4 perlods demand are 65, 60, B0, ond 70respectively Calculate the weighted moving verae (WMA) forecast of perlod 5 with welghts (0,4, 0,6)
Sab AV Aa Font A A A T Investigate D Paragraph Exercise 2 Appended below is an inventory record of a manufacturing company displaying purchase of quantity raw materials for the year 2022 and from 2023. FS Required: Calculate the estimated forecast for from July 2023 till December 2023. ww Shapes Arrange Quick V Styles Drawing Feb March January till June April May June July August September October Demand Forecast Year 2023 Month Jan November December V FS Editing y 1,700 1750 2110 1225 3230 4512 Dictate Sensitivity V Voice Sensitivity Year 2022 Raw Materials Purchased Month Jan Feb March April May June July August September October November December =Notes 25°C gg UU Add-ins Add-ins 60 Designer UNITAR Raw Materials Purchased 1230 1880 1100 2580 3820 4580 3330 2530 5120 4830 5230 5110 ENG 10:1 21/1
A manager is attempting to put together an agregate plan for the coming nine months. She has obtained a forecast of expected demand for the planning horizon. The plan must deal with highly seasonal demand; demand is relatively high in periods 3 and 4 and again in period 8, as can be seen from the following forecast. Period 1 2 3 4 5 6 7 8 9 TotalForecast 190 230 260 280 210 170 160 260 180 1,940 The department now has 20 ful-time employees, each of whom produces 10 units of output per period at cost of $6 per unit. Beging inventory for period 1 is zero. Inventory carrying cost is $5 per unit per period, and backlog cost is $10 per unit per period. a. Will the current work force be able to handle the forecast demand? b. Determine the total cost of the plan, including production, inventory, and backorder cost.
Greenfield Equipment is performing demand forecasting. Actual demand for Week 1 – 550, Week 2 – 490, Week 3 – 560, week 4 – 435, and Week 5 – 656. You have been asked to perform exponential smoothing with a delta of 0.3. Week 5 forecast was 519. What is week 6 forecast? Provide answer rounded to 1 decimal place.
Assuming actual product demand were 1,500; 1540; 1,520; 1,550; and 1,560 for Weeks 1, 2, 3, 4, and 5, respectively. Using 2 as interval for moving averages forecasting, the computed sum of percentage error and MAPE should be: * o 1.60% and 15.00% o 2.89% and 0.96% o 1.29% and 0.29% o 0% and 0%
A firm has 56 units of product X on hand. Forecasts of demand are for 20 units per week. An MPS quantity of 100 units is planned to arrive in period 3. Customer orders are 24 for period 1, 18 for period 2, and 15 for period 3. What is the projected on-hand inventory at the end of period 2? Multiple Choice 14 32 12 20 impossible to say without more information
Using the moving average forecast, is it possible to forecast a demand that is biggerthan any previously observed demand?a. Yesb. No

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