Tattle Tots makes a fiberglass tricycle for kids that is composed of three major components: a handlebar-front wheel-pedal assembly, a seat, and frame unit, and rear wheels. The company has orders for 12,000 of these tricycles. The company does not have the resources available to manufacture everything needed for the completion of 12,000 tricycles so it has gathered purchase information for each component. The following table shows relevant information: RequirementsCost toManufactureCost toPurchaseComponentPlasticTimeSpaceFront3102812Seat/Frame4 626 9Rear-wheel (each).5 2.11 3 Available50,000160,00030,000 Develop a linear programming model to advise the operations manager of Tattle Tots how many of each component should be manufactured and how many should be purchased in order to provide 12,000 fully completed tricycles at the minimum cost. What is your best recommendation?

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Tattle Tots makes a fiberglass tricycle for kids that is composed of three major components: a handlebar-front wheel-pedal assembly, a seat, and frame unit, and rear wheels. The company has orders for 12,000 of these tricycles. The company does not have the resources available to manufacture everything needed for the completion of 12,000 tricycles so it has gathered purchase information for each component. The following table shows relevant information:

Tattle Tots makes a fiberglass tricycle for kids that is composed of three major components: a handlebar-front wheel-pedal assembly, a seat, and frame unit, and rear wheels. The company has orders for 12,000 of these tricycles. The company does not have the resources available to manufacture everything needed for the completion of 12,000 tricycles so it has gathered purchase information for each component. The following table shows relevant information:

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter11: Simulation Models

Section: Chapter Questions

Problem 69P: The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon...

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The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.
attle Tots makes a fiberglass tricycle for kids that is composed of three major components: a handlebar-front wheel-pedal assembly, a seat, and frame unit, and rear wheels. The company has orders for 12,000 of these tricycles. The company does not have the resources available to manufacture everything needed for the completion of 12,000 tricycles so it has gathered purchase information for each component. The following table shows relevant information: Requirements Cost to Manufacture Cost to Purchase Component Plastic Time Space Front 3 10 2 8 12 Seat/Frame 4 6 2 6 9 Rear-wheel (each) .5 2 .1 1 3 Available 50,000 160,000 30,000 Develop a linear programming model to advise the operations manager of Tattle Tots how many of each component should be manufactured and how many should be purchased in order to provide 12,000 fully completed tricycles at the minimum cost. What is your best…
Workshape Manufacturing has two classes of distributors: JIT distributors and non-JIT distributors. The JIT distributor places small, frequent orders, and the non-JIT distributor tends to place larger, less frequent orders. Both types of distributors purchase the same product. The customer activities and costs for the previous quarter are as follows: Activity JIT distributors Non-JIT distributors Sales Orders 500 30 Sales Calls 30 30 Service Calls 200 90 Average Order Size 90 1,400 Manufacturing Cost/Unit $50 $50 Customer Costs: Processing Sales Orders $160,000 Selling Goods $155,000 Servicing Goods $195,000 Total $500,000 Calculate the activity rate for selling goods. (Note: Round answer to two decimal places.) a.$2,200.50 per sales call b.$9,400.60 per sales call c.$3,550.66 per sales call d.$2,583.33 per sales call e.$4,800.40 per sales call
Tots Toys makes a plastic tricycle that is composed of three major components: a handlebar-front wheel-pedal assembly, a seat and frame unit, and rear wheels. Please note that each tricycle requires two rear wheels, the front wheel is included in the front wheel-pedal assembly. The company has orders for 15,000 of these tricycles. Current schedules yield the following information: component plastic time space cost to manufacture cost to purchase front 2 11 2 7 11 seat/frame 3 7 2 6 10 rear 0.5 2.5 0.2 2 5 available 60000 180000 35000 The company obviously does not have the resources available to manufacture everything needed for the completion of 15,000 tricycles so has gathered purchase information for each component. Develop a linear programming model to tell the company how many of each component should be manufactured and how many should be purchased in order to provide 15,000 fully completed tricycles at the minimum cost. (state the objective function, decision…
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I need a detailed assistance to solve this problem: The Mantell Company makes softballs and baseballs. Softballs sell for $17 each, and baseball sell for $15 each. Making a ball of any kind requires leather, nylon, wood chips, labor and machine time. The requirements for each ball type and the resources available are show in the following table: Item Softball Requirement Baseball Requirement Available Resource Leather 6 ounces 4 ounces 6000 ounces Nylon 8 yards 3 yards 5000 yards Wood Chips 10 ounces 2 ounces 5000 ounces Labor 3 minutes 2 minutes 3600 minutes Machine 1 minute 1 minute 2000 minutes The company wishes to use LP to determine the optimal number of each type of ball to produce in order to maximize revenue. a) Write down the decision variables. b) Write down the optimization statement for the objective function. c) Write down the constraints.
Direct Materials and Direct Labor Variance Analysis Shasta Fixture Company manufactures faucets in a small manufacturing facility. The faucets are made from brass. Manufacturing has 50 employees. Each employee presently provides 32 hours of labor per week. Information about a production week is as follows: Standard wage per hour $12.00 Standard labor time per unit 15 min. Standard number of lbs. of brass 1.5 lbs. Standard price per lb. of brass $11.00 Actual price per lb. of brass $11.25 Actual lbs. of brass used during the week 11,124 lbs. Number of units produced during the week 7,200 Actual wage per hour $12.36 Actual hours for the week (50 employees × 32 hours) 1,600 Required: a. Determine the standard cost per unit for direct materials and direct labor. Round the cost per unit to two decimal places. Direct materials standard cost per unit $fill in the blank 1 Direct labor standard cost per unit $fill in the blank 2 Total standard cost per unit $fill in…
Clinton Financial Consultants is a firm of chartered accountants and financial consultants. Amongst its many activities , it specializes in arranging finance for new entrepreneurs. It helps them in evaluation, preparing viable reports, documentation, legal documentation and finally obtaining a loan from banking or financial institutions. The task involves preparing a proposal, checking the background of the client firm for its creditworthiness, preparing pro forma balance sheets and profit and loss accounts for the term of the loan, carrying out a need analysis, preparing loan agreement documents and finally obtaining the loan for the client. To facilitate better management, the firm uses PERT. It is currently processing the proposed loan for Alfa enterprises. The team assigned for this project has identified the following activities: Activity Description Immediate Predecessor A Start preparing proposal as per template - B Check credit worthiness of firm - C Create a rough draft…
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	Requirements	Cost to Manufacture	Cost to Purchase
Component	Plastic	Time	Space
Front	3	10	2	8	12
Seat/Frame	4	6	2	6	9
Rear-wheel (each)	.5	2	.1	1	3
Available	50,000	160,000	30,000