EXAMPLE: PRODUCTION PLAN STRATEGIES 1. Prepare the production plan using the three basic production plan strategies Suppose the forecasted demand for a product family looks like the table below. Assume the product family is a make to stock family with a starting inventory of 210. Period 1 2 3 Total Forecast (Demand) 175 150 180 165 150 200 1020 Additional Information: For Hybrid production, it is assumed that for the 1" three periods it uses the lowest demand; on the 4th and 5th period it uses 175 forecasted demand; and on the 6th period there is no change on the demand. Requirement: Solve for the following a. Chase production plan Period 1 2 3 5 Total Forecast (Demand) 175 150 180 165 150 200 1020 Level production plan Period 1 3 4 5 6. Total Forecast (Demand) 175 150 180 165 150 200 1020 b. Hybrid production plan Period 1 3 4 5 6. Total Forecast (Demand) 175 150 180 165 150 200 1020 2.
EXAMPLE: PRODUCTION PLAN STRATEGIES 1. Prepare the production plan using the three basic production plan strategies Suppose the forecasted demand for a product family looks like the table below. Assume the product family is a make to stock family with a starting inventory of 210. Period 1 2 3 Total Forecast (Demand) 175 150 180 165 150 200 1020 Additional Information: For Hybrid production, it is assumed that for the 1" three periods it uses the lowest demand; on the 4th and 5th period it uses 175 forecasted demand; and on the 6th period there is no change on the demand. Requirement: Solve for the following a. Chase production plan Period 1 2 3 5 Total Forecast (Demand) 175 150 180 165 150 200 1020 Level production plan Period 1 3 4 5 6. Total Forecast (Demand) 175 150 180 165 150 200 1020 b. Hybrid production plan Period 1 3 4 5 6. Total Forecast (Demand) 175 150 180 165 150 200 1020 2.
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.Recommended textbooks for you
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,