Given the forecast and booked orders shown in the table below, and a beginning inventory of 50, what should the master production schedule quantity be for period 4 if the target ending inventory is 40?
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- A hospital must order the drug Porapill from DaisyDrug Company. It costs $500 to place an order and $30 toreview the hospital’s inventory of the drug. Annual demandfor the drug is N(10,000, 640,000), and it costs $5 to holdone unit in inventory for one year. Orders arrive one monthafter being placed. Assume that all shortages are backlogged.a Estimate R and the number of orders per year thatshould be placed.b Using the answer in part (a), determine the optimal(R, S) inventory policy. Assume that the shortage costper unit of the drug is $100.(2-b) A firm's demand in the next four quarters is forecast to be 400, 600, 800, and 700 units. Given that beginning inventory is 600, desired ending inventory in quarter 4 is 300, inventory holding cost is $6 per unit per quarter, and production cost is $50 per unit, calculate the cost of a level production plan.A steel workshop of PT Mental Baja produces leaf springs for cars. theyhave a demand forecast for the next 6 months as anext:i. January 446 units (production time 20 days)ii. February 600 units (production time 18 days)iii. March 700 units (production time 20 days)iv. April 900 units (production time 20 days)v. May 650 units (production time 20 days)vi. June 550 units (production time 20 days) The following are some important information to be the basis for doingcalculation of production costs as follows:i. Inventory cost $4 per unitii. Subcontractor fee $15 per unitiii. Workers cost $10 per hour or $80 per dayiv. Production time per unit 1.6 hours Tasks and questionsa. Assuming that the number of units that can be produced is 35 units per dayand 1 person can make 7 units, make an estimated cost by usingConstant Workforce approach. b. Assuming that internal processing is carried out usingcapacitors of daily production are the lowest for 6 months and constant,calculate estimated…
- 1. Forrest and Dan make boxes of chocolates for which the demand is uncertain. Forrest says, "That's life." On the other hand, Dan believes that some demand patterns exist that could be useful for planning the purchase of sugar, chocolate, and shrimp. Forrest insists on placing a surprise chocolate-covered shrimp in some boxes so that "You never know what you'll get." Quarterly demand (in boxes of chocolates) for the last three years is shown in the table below: b. If the expected sales for chocolates are 14,400 cases for year 4, use the multiplicative seasonal method to prepare a forecast for each quarter of the year. (Round all intermediate calculations to two decimal places.) The first quarter forecast is what? boxes of chocolates. (Enter your response rounded to the nearest whole number.)The table below provides demand data for 6 weeks (weeks 31-36 for the current year) for one product. Inventory is managed with a periodic review system where T = 5 weeks and M = 280. The previous order was for 120 units at the end of week 28. The lead time is a constant 4 weeks. At the beginning of week 31 the inventory level is 130 units. Orders are made at the end of a week. 1. When is the next order? end of week __________ 2. How large is the next order? ___________ Week Demand Inventory 31 30 32 40 33 45 34 30 35 30 36 30Dorothy’s pastries are freshly baked and sold at several spe-cialty shops throughout Perth. When they are a day old, theymust be sold at reduced prices. Daily demand is distributedas follows:Demand Probability50 0.25150 0.50200 0.25Each pastry sells for $1.00 and costs $0.60 to make. Each onenot sold at the end of the day can be sold the next day for$0.30 as day-old merchandise. How many pastries should bebaked each day?
- A clothing manufacturing company requires raw materials for 8 consecutive weeks as follows: 30, 40, 50, 35, 60, 30, 40, and 30 units with a one-time order cost of $50,000 and a storage fee of $500 per unit/week. From these data calculate the total cost of procurement using:a. Lot For Lot (LFL) Methodb. Economic Order Quantity (EOQ) Methodc. Period Order Quantity (POQ) Method Using this table format: Week 1 2 3 4 5 6 7 8 Gross requirements Schedule receipts Projected on hand Net requirements Planned order receipts Planned order releasesForrest and Dan make boxes of chocolates for which the demand is uncertain. Forrest says, “That’s life.” On the other hand, Dan believes that some demand patterns exist that could be useful for planning the purchase of sugar, chocolate, and shrimp. Forrest insists on placing a surprise chocolatecovered shrimp in some boxes so that “You never know what you’ll get.” Quarterly demand (in boxes of chocolates) for the last 3 years follows: Quarter Year 1 Year 2 Year 3 1 2 3 4 3,000 1,700 900 4,400 3,300 2,100 1,500 5,100 3,502 2,448 1,768 5,882 Total 10,000 12,000 13,600 a. Use intuition and judgment to estimate quarterly demand for the fourth year.b. If the expected sales for chocolates are 14,800 cases for year 4, use the multiplicative seasonal method to prepare a forecast for each quarter of the year. Are any of the quarterly forecasts different from what you thought you would get in part (a)?Ram Roy's firm has developed the following supply, demand, cost, and inventory data. Supply Available Period Regular Time Overtime Subcontract Demand Forecast 1 30 15 5 40 2 30 15 5 45 3 30 20 5 50 Initial inventory 20 units Regular-time cost per unit $100 Overtime cost per unit $160 Subcontract cost per unit $200 Carrying cost per unit per month $4 Assume that the initial inventory has no holding cost in the first period and backorders are not permitted. Part 2 Allocating production capacity to meet demand at a minimum cost using the transportation method, the total cost is $enter your response here (enter your response as a whole number).
- Given the following list of items,a. Classify the items as A, B, or C.b. Determine the economic order quantity for each item (round to the nearest whole unit).ItemEstimatedAnnualDemandOrderingCostHoldingCost(%)UnitPriceH4-010 20,000 50 20 2.50H5-201 60,200 60 20 4.00P6-400 9,800 80 30 28.50P6-401 14,500 50 30 12.00P7-100 6,250 50 30 9.00P9-103 7,500 50 40 22.00TS-300 21,000 40 25 45.00TS-400 45,000 40 25 40.00TS-041 800 40 25 20.00V1-001 33,100 25 35 4.00Musa's Cashmere Sweaters has authorized the following MPS for her exclusive line of cashmere sweaters. She wants to use the MPS record for promising future orders. Current order promises are included. The MPS order quantity is 60 units. Beginning Inventory is 0. Complete the following MPS record. Period 1 2 3 4 5 6 7 8 9 10 11 12 Forecast 15 15 15 15 20 20 20 20 25 25 25 25 Customer orders 12 10 8 25 40 0 15 30 30 0 0 40 Projected available Available-to-promise MPS 60[item no. 8] In a single period inventory model, the demand is assumed to follow a normal distribution with mean=100 and variance=25. The value of ML=2 and the value of MP=4. The company used marginal analysis with the normal distribution to determine the optimal stocking level X*. What is the value of X* a. None of the above b. 111 c. 103 d. 102
