A TV company produces Smart TVs. The company wants to plan production and workforce levels for the next 6 months. The table below shows the number of workdays and Smart TV demand (in thousands) for each month. Note that if the demand is exceeded, the leftovers can be carried to the next month. If the demand is not satisfied the items are backordered
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- . Worldwide Can-Openers, Inc., makes a family of two hand-operated can openers. The production plan is based on months. There are 4 weeks in this month. Opening inventory is 2000 dozen, and it is planned to increase that to 4000 dozen by the end of the month. The MPS is made using weekly periods. The forecast and projected available balance for the two models follow. The lot size for both models is 1000 dozen. Calculate the production plan and the MPS for each item.A company forecasts demand for a component at around 2,500 units a year. They make the component internally, and it costs $500 to set up each production run with a variable cost of $30 a unit. The holding costs are 20 % of value a year and the production rate is 10,000 units a year. There is a lead time of two months from receiving a production requisition until finished units begin to come from the production line. Question: How long is each inventory cycle (in weeks)?Semans is a manufacturer that produces bracket assemblies. Demand for bracket assemblies (X) is 125 units. The following is the BOM in indented form: ITEM DESCRIPTION USAGE X Bracket assembly 1 A Wall board 4 B Hanger subassembly 2 D Hanger casting 4 E Ceramic knob 1 C Rivet head screw 3 F Metal tong 4 G Plastic cap 2 Below is a table indicating current inventory levels: Item X A B C D E F G Inventory 22 15 75 24 202 139 1,000 95 What are the Net Requirements for X, A, B, and C respectively?
- A newsvendor pays $.30 for each paper and sells each paper for $.50. From past data ,it shows the average demand of 90 papers with standard deviation of 10 papers and demand follows the normal distribution. So, how much newspaper should he stock?XYZ company has determined that the annual demand for type A material is 20,000 pounds. Salma, who works in her brother's factory, is in charge of purchasing. She estimates that it costs $15 every time an order is placed. This cost includes her wages, the cost of the forms used in placing the order, and so on. Furthermore, she estimates that the cost of carrying one pound in inventory for a year is 0.05 $. Assume that the demand is constant throughout the year. (Note: $ is a dollar sign) a) If we are going to use the EOQ inventory model, mention all the assumptions that are made to validate that model. b) How many pounds of type A material should Huda order (i.e. Q*) at a time if she wishes to minimize total inventory cost? c) How many orders per year would be placed? d) What would the annual ordering cost be? e) What would the average inventory be? f) What would the annual holding cost be? See equations below if needed: Annual Ordering cost Annual hdding: Number of orders placed per…Bioway, Inc., a manufacturer of medical supplies, uses ag- gregate planning to set labor and inventory levels for the year. While a variety of items are produced, a standard kit composed of basic supplies is used for planning purposes. Demand varies with seasonal illnesses and the quarterly or- dering policies of hospitals. The average worker at Bioway can produce 1000 kits a month at a cost of $9 per kit dur- ing regular production hours and $10 a kit during overtime production. Completed kits can also be purchased from outside suppliers at $12 each. Inventory carrying costs are $2 per kit per month. Overtime is limited to regular pro- duction, but subcontracting is unlimited. Due to high quality standards and extensive training, hiring and firing costs are $1500 per worker. Bioway currently employs 25 workers. Given the demand forecast below, develop a six-month ag- gregate production plan for Bioway using (a) chase demand and (b) a mixed strategy where the current workforce is kept…
- Net Steels is a steel manufacturing company. It currently orders 180 metric tons of raw material per order. It was observed that the company often faces stockout. To tackle this issue, the company incorporated a fixed-quantity system (FQS) and collected the following data. The lead time is 2 weeks. Demand Order Cost Item Cost Inventory-Holding Cost 11000 metric tons per year $18000 per order $36000 per year 20 percent per year Given the order quantity is 200, what is the annual ordering cost? Only for non-integer results, round your answer UP to the nearest integer. For example, if your answer is 5.05, type 6; if your answer is 5, type 5. 2DCo Economic Order Quantity (EOQ), Q* Cn Reorder point, r = demand rate x lead time =d'L Your Answer: AnswerXYZ company has determined that the annual demand for type A material is 20,000 pounds. Salma, who works in her brother's factory, is in charge of purchasing. She estimates that it costs $15 every time an order is placed. This cost includes her wages, the cost of the forms used in placing the order, and so on. Furthermore, she estimates that the cost of carrying one pound in inventory for a year is 0.05 $. Assume that the demand is constant throughout the year. (Note: $ is a dollar sign) d) What would the annual ordering cost be? e) What would the average inventory be? f) What would the annual holding cost be? See equations below if needed: Number of orders placed per year Annual Ordering cost Annual hdding= Annual demand Number of units in each order Average inventory Ordering cost per order Ordering cost per order (Carrying cost per unit = b.cA product's demand in cach period follows a Normal distribution with mean of 50 and standard deviation of 6. The order up to level S is 225. Lead time is 3 periods. What is the Expected On hand Inventory? Show all formulas used. calculations and results. What is the stock out probability ? Show all formulas used, calculations and results.
- Womble Inc. has beginning inventory of $200 and an ending inventory of $400 for a given periodin which it purchased $13,400 worth of materials. What is the dollar amount of materials used inthis period?Your firm uses a periodic review system for all SKUs classified, using ABC analysis, as B or C items. Further, it uses a continuous review system for all SKUs classified as A items. The demand for a specific SKU, currently classified as an A item, has been dropping. You have been asked to evaluate the impact of moving the item from continuous review to periodic review. Assume your firm operates 52 weeks per year; the item’s current characteristics are:Demand 1D2 = 15,080 units/yearOrdering cost 1S2 = $125.00/orderHolding cost 1H2 = $3.00/unit/yearLead time 1L2 = 5 weeksCycle@service level = 95 percentDemand is normally distributed, with a standard deviation of weekly demand of 64 units.a. Calculate the item’s EOQ.b. Use the EOQ to define the parameters of an appropriate continuous review and periodic review system for this item.c. Which system requires more safety stock and by how much?Consider the company IKEA which manufactures and sells furniture. Describe the inventory that one would expect at IKEA.