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GSCM 530 DeVry Week 2 Homework Assignment
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4. The current aggregate demand requirements for a firm are shown below for the next six months:
The firm always plans to meet all demand. The
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The firm always plans to meet all demand. The firm currently has 120 workers capable of producing 120 units in a month (1 unit/worker). The workforce can be increased (at a cost of $500 per worker) or decreased (at a cost of $1,000 per worker). Inventory holding cost is $100 per unit per month. The firm currently has 40 units of inventory on hand, and it would like to have 40 units available at the end of each month. Regular production cost is $3,000 per unit.
a. What should the aggregate plan be if the inventory holding cost is to be minimized?
b. What is the cost of this plan?
6. JokersRWild makes playing cards in several different styles, but a “standard” deck of cards is used for planning purposes. The average worker at JokersRWild can make 10,000 sets of decks of cards per month at a cost of $1.00 per deck during regular production and $1.30 during overtime. The company currently employs 25 workers. Experience shows that it costs $500 to hire a worker and $500 to fire a worker. Inventory carrying cost is $.25 per deck per month. Given the following demand estimate, develop a six-month production plan based on level production, chase using overtime (no workers will be fired and inventory increases if necessary), and chase by changing workforce level. The beginning inventory is 50,000, and at least that amount is desired each month.
The citation provided is a guideline. Please check each citation for accuracy before use.
8. Appliances Inc. is preparing an aggregate production plan for washers for the next four months. The company’s expected monthly demand is given below in the chart. The company will have 500 washers in inventory at the beginning of the month and desires to maintain at least that number at the end of each month. Below is other critical data:
Production cost per unit = $300
Inventory carrying cost per month per unit = $50 (based on ending month inventory)
Hiring cost per worker = $1,000
Firing cost per worker = $2,000
Beginning number of workers = 10
Each worker can produce 100 units per month
Complete the tables and determine the cost of the two plans