Business, 05.05.2020 22:33 gvizabal

Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem. The monthly forecasts for Product X for January, February, and March are 950, 1,510, and 1,220, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February, and 21 in March. Beginning inventory is 550 units. Manufacturing cost is $270 per unit, storage cost is $4 per unit per month, standard pay rate is $7 per hour, overtime rate is $11 per hour, cost of stockout is $11 per unit per month, hiring and training cost is $190 per worker, layoff cost is $290 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 40 workers and that they work 8 hours per day. (Leave no cells blank - be certain to enter "0" wherever required. Input all values as positive values. Round Workers Required up to next higher whole number. Round all other variables to nearest whole number.) January February March Forecast 950 1,510 1,220 Safety stock Beginning inventory Net production required Workers required Hired Laid off Actual production Ending inventory January February March Labor $ $ $ Inventory Hiring Layoff Total $ $ $ Total $

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