gregate production plan for Bioway using (a) chase demand and (b) a mixed strategy where the current workforce is kept for April through August, and supplemented with overtime and subcontracting as needed.
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- The Chemco Company uses a highly toxic chemical in oneof its manufacturing processes. It must have the productdelivered by special cargo trucks designed for safe shipment of chemicals. As such, ordering (and delivery) costsare relatively high, at $3600 per order. The chemical product is packaged in 1-gallon plastic containers. The cost ofholding the chemical in storage is $50 per gallon per year.The annual demand for the chemical, which is constantover time, is 7,000 gallons per year. The lead time fromtime of order placement until receipt is 10 days. The company operates 310 working days per year. Compute theoptimal order quantity, total minimum inventory cost, andthe reorder point.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…1. Net sales for the hosiery department in May wee $30,620. Book inventory at the end of the month showed that $97,831 should be on hand. Physical inventory showed $97,560. Determine shortage or overage percent. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). 2. Using the data below, determine the closing book inventory. Not all information given may be needed. Present your answer with a dollar sign, comma separator, rounded to the dollar. (i.e. $19,567) Opening inventory $89,760 Gross purchases $43,620 RTV $860 Cash discounts $320 Markdowns $5,246 Markdown cancellations $318 Employee discounts $784 Gross sales $49,318 Customer returns $2,945 Net markups $760 3. Calculate the shortage or overage percent, given the following information. Present your answer with a percent sign, rounded to two decimal places (i.e. 19.64%). NOTE. There is another question in this quiz using the same data. Opening inventory…
- A part is produced in lots of 1,000 units. It is assembled from 2 components worth $50 total. The value added in production (for labor and variable overhead) is $60 per unit, bringing total costs per completed unit to $110. The average lead time for the part is 6 weeks and annual demand is 3,800 units, based on 50 business weeks per year.a. How many units of the part are held, on average, in cycle inventory? What is the dollar value of this inventory?b. How many units of the part are held, on average, in pipeline inventory? What is the dollar value of this inventory? (Hint: Assume that the typical part in pipeline inventory is 50 percent completed. Thus, half the labor and variable overhead cost has been added, bringing the unit cost to $80, or $50 + $60/2).Seah Corporation presents the following data: Usage is 400 units per month, cost per order is P20, and carrying cost per unit is P6. Given these data, answer the following questions: (A) What is the economic order quantity? (B) How many orders are required each month? CHOICES A) 32 and (B) 6 (A) 32 and (B) 8 (A) 52 and (B) 6 (A) 52 and (B) 8 (A) 62 and (B) 10Caltex uses overtime, inventory, and subcontracting to ab-sorb fluctuations in demand. An annual production plan isdevised and updated quarterly. Expected demand, availablecapacities, and costs for the next four quarters are givenbelow. Design a production plan that will satisfy demand atminimum cost.Regular production cost per unit $10Overtime production cost per unit $15Subcontracting cost per unit $20Inventory holding cost per unit per period $ 2 Regular Overtime SubcontractingPeriod Demand Capacity Capacity Capacity1 1500 1000 200 5002 1900 1000 200 5003 500 1000 200 5004 2000 1000 200 500
- The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in producing billiard balls. She knows that manufacturing uses resin at a rate of 50 kilograms each day, and that it costs $.04 per day to carry a kilogram of resin in inventory. She also knows that the order costs for resin are $100 per order, and that the lead time for delivery is four days. If the order size was 1,000 kilograms of resin, what would be the average inventory level?14.1. Care Alliance (CA), a manufacturer of emergency care kits for disaster relief, has received the annual disaster readiness plans from its major constituents and now must develop an operations plan to set production, labor, and inventory levels of its basic emergency products for the next four quarters. Demand for the kits, given below, varies with seasonal weather, political climate, and economic conditions. The average worker at CA can produce 10,000 kits a quarter at a cost of $9 per kit. The cost of holding inventory is $2 per kit per quarter. Due to the medical nature of many of its products and concern for quality, hiring and firing costs are $700 per worker. CA currently employs 20 workers. Given the demand forecast below, develop a quarterly operations production plan for CA using (a) chase demand and (b) level production: Quarter Demand 1 150,000 2 250,000 3 350,000 4 250,001. A firm practices a pure chase strategy. Production last quarter was 818. Demand over the next four quarters is estimated to be 975, 935, 886, and 968. Hiring cost is $19 per unit, and layoff cost is $6 per unit. Over the next year, what will be the sum of hiring and firing costs? 2. A firm practices a pure level strategy that sets the production level at the average demand over the next four periods. Inventory last quarter was 0. The extra units produced are stored in a warehouse. The extra units needed are subcontracted. Demand over the next four quarters is estimated to be 1041, 1019, 1188, and 1090. Production cost is $25 per unit, and Inventory cost is $4 per unit. What is the production level at this form?
- Pls send me solution fast within 10 min and i will rate instantly for sure!! Solution must be in typed form!! The demand of product A varies with the price as guided by the following equation. Demand = -1.5 * price + 25 Moreover, the sale of product A leads to the sale of another product B of the same company. Additional data is given below: The unit cost of A = Rs 3 Number of units of B with one A = 20 Profit from the sale of one unit of B = Rs 0.85 Develop an Operations Research-based optimization model for the pricing of A to maximize total profit earned and find the optimal price.4.WareCo Company is determining how many orders for household appliance products. Each of these household products costs $15,000. Annual carrying costs are estimated at $. 200,000. The order fee is $10,000. WareCo expects to sell 50 units of these household appliances per month. The average inventory level is 40. How to answer the problems faced by WareCo Company?Q2) Groundz Coffee Shop uses 4 kgs of a specialty tea weekly; each kg costs $16. Carrying costs are $1 per kg per week because space is very scarce. It costs the firm $8 to prepare an order. Assume 52 weeks per year. How many kgs of tea should Groundz order at a time? What is total annual cost. How many orders should Groundz place annually. Q2) Groundz Coffee Shop uses 4 kgs of a specialty tea weekly; each kg costs $16. Carrying costs are $1 per kg per week because space is very scarce. It costs the firm $8 to prepare an order. Assume 52 weeks per year. How many kgs of tea should Groundz order at a time? What is total annual cost. How many orders should Groundz place annually.