An end item’s demand forecasts for the next 6 weeks are 30 units, followed by forecasts of 25 units for weeks 7 through 10. The current on-hand inventory is 60 units. The order policy is to produce in lots of 100. The booked customer orders for the item, starting with week 1, are 22, 30, 15, 11, 0, 0, 9, 0, 0, and 0 units. The lead time is 2 weeks.a. Develop an MPS for this end item.b. The marketing department has received six orders for this item in the following sequence:Order 1 is for 40 units to be delivered in period 3Order 2 is for 60 units to be delivered in period 4Order 3 is for 70 units to be delivered in period 6Order 4 is for 40 units to be delivered in period 3Order 5 is for 20 units to be delivered in period 5Order 6 is for 115 units to be delivered in period 9Assuming that the prospective MPS you developed in part (a) does not change, which orders would you be able to accept based on the available to promise (ATP)?
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
An end item’s demand
a. Develop an MPS for this end item.
b. The marketing department has received six orders for this item in the following sequence:
Order 1 is for 40 units to be delivered in period 3
Order 2 is for 60 units to be delivered in period 4
Order 3 is for 70 units to be delivered in period 6
Order 4 is for 40 units to be delivered in period 3
Order 5 is for 20 units to be delivered in period 5
Order 6 is for 115 units to be delivered in period 9
Assuming that the prospective MPS you developed in part (a) does not change, which orders would you be able to accept based on the available to promise (ATP)?
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