Tabard Industries forecasted the following demand for one of its most profitable products for the next 8 weeks: 120, 120, 120, 100, 100, 100, 80, and 80 units. The booked customer orders for this product, starting in week 1 are: 100, 80, 60, 40, 10, 10, 0, and 0 units. The current on-hand inventory is 150 units, the order quantity is 200 units, and the lead time is one week.a. Develop a MPS for this product.b. The marketing department revised its forecast. Starting with week 1, the new forecasts are: 120, 120, 120, 150, 150, 150, 100, and 100 units. Assuming that the prospective MPS you developed in part (a) does not change, prepare a revised MPS record. Comment on the situation that Tabard now faces.c. Returning to the original forecasted demand level and the MPS record you developed in part (a), assume that marketing accepted a new customer order for 200 units in week 2, and thereby booked orders in week 2 is now 280 units. Assuming that the prospective MPS you developed in part (a) does not change, prepare a revised MPS record. Comment on the situation that Tabard now faces.
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.
Tabard Industries forecasted the following demand for one of its most profitable products for the next 8 weeks: 120, 120, 120, 100, 100, 100, 80, and 80 units. The booked customer orders for this product, starting in week 1 are: 100, 80, 60, 40, 10, 10, 0, and 0 units. The current on-hand inventory is 150 units, the order quantity is 200 units, and the lead time is one week.
a. Develop a MPS for this product.
b. The marketing department revised its
c. Returning to the original forecasted demand level and the MPS record you developed in part (a), assume that marketing accepted a new customer order for 200 units in week 2, and thereby booked orders in week 2 is now 280 units. Assuming that the prospective MPS you developed in part (a) does not change, prepare a revised MPS record. Comment on the situation that Tabard now faces.
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