The beginning stock of a product is 200 units (On hand stock =200 unites). Safety Stock level is 50 unites. It is desirable to prepare a 12-week Master Production Schedule. MPS is 400 units. The Demand forecast and Customer order quantities for the 12 periods are given in the table below. Determine the Master Production Schedule and Available to promise amount (ATP) in a way that maintains the amount of safety stock. Demand Forecast Customer Order 1 70 120 2 60 120 3 80 110 4 90 110 5 110 100 6 120 90 7 130 80 8 150 50 9 140 40 10 145 0 11 180 0 12 190 0
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- Your company has previously used a fixed order size where ordering takes place once a quarter, but since the product's sustainability only allows warehousing for a limited time, demand varies somewhat and the product's character also means that the stock cost is rather expensive, SEK 54 per product and year. So, the company wants to investigate whether a more dynamic order size is preferable. Each order costs the company approximately SEK 1,200. The forecast for the next 4 months is given below: Month 1 2 3 4 Forecast 180 320 490 180 Decide in which periods ordering should take place (you can choose the calculation method).David’s Delightful Kites Company (DDKC) manufactureskites. Th e most popular is David’s Daredevil model. Demandmanagement has prepared forecast estimates for the next sixweeks. Beginning inventory is 15 David’s Daredevils. As themaster scheduler for DDKC, you must prepare an MPS. Your MPSorder quantity is 72 kites. (a) Prepare the MPS using an order quantity of 72 kites.(b) Calculate the ending inventory for each period.(c) What is the maximum number of units held in inventory?(d) How many MPS orders are needed?Company XYZ follows fixed order quantity model for Inventory planning. Annual Demand for the product is 1000 units; Cost per Order is $5, Inventory carrying cost per unit is $ 1.25, Lead time for procurement is 5 days and Cost per item is $ 12.5. With the given data calculate: a. EOQ-Economic Order Quantity b. Reorder Quantity c. Total cost of Inventory (answer by file attachment options)
- A retailer carries 10,000 items in its store. During the week, there is some demand for 6000 of the items. Among those, there are 100 products for which all of the demand was not satisfied and 400 products for which only some of demand was satisfied. a. What is their in-stock probability for this week?b. What is their stockout probability for this week?Consider a two-stage plant-retailer supply chain. Lead time for orders is two weeks. Safety stock is equal to one week's demand, and future demand is estimated by the average of the past two weeks. a) Develop production planning model (equations) for the retailer that states the order-up-to rule, and order quantities as a function of time. b) Using a table format (Columns are Week, Starting retail inventory, On order, Order-up-to target, Order quantity, and Demand) track performance of the retailer for eight weeks if demand suddenly shifts from 100 units per week to 110 units per week starting in period 3 and stays at 110 to the end.As with other products, Fisher-Price faces the decision of how many Weather Teddy units to order for the comingholiday season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000, or28,000 units. The wide range of order quantities suggested indicates considerable disagreement concerning themarket potential. The product management team asks you for an analysis of the stock-out probabilities forvarious order quantities, an estimate of the profit potential, and to help make an order quantity recommendation.Fisher-Price expects to sell Weather Teddy for $24 based on a cost of $16 per unit. If inventory remains afterthe holiday season, Fisher-Price will sell all surplus inventory for $5 per unit. After reviewing the sales historyof similar products, Fisher-Price’s senior sales forecaster predicted an expected demand of 20,000 units with a.95 probability that demand would be between 10,000 units and 30,000 units. Compute the probability of a stock-out for the…
- As with other products, Fisher-Price faces the decision of how many Weather Teddy units to order for the comingholiday season. Members of the management team suggested order quantities of 15,000, 18,000, 24,000, or28,000 units. The wide range of order quantities suggested indicates considerable disagreement concerning themarket potential. The product management team asks you for an analysis of the stock-out probabilities forvarious order quantities, an estimate of the profit potential, and to help make an order quantity recommendation.Fisher-Price expects to sell Weather Teddy for $24 based on a cost of $16 per unit. If inventory remains afterthe holiday season, Fisher-Price will sell all surplus inventory for $5 per unit. After reviewing the sales historyof similar products, Fisher-Price’s senior sales forecaster predicted an expected demand of 20,000 units with a.95 probability that demand would be between 10,000 units and 30,000 units. Question: One of Fisher-Price’s managers felt…A manager receives a forecast for next year. Demand is projected to be 600 units for the first half of the year and 920 units for the second half. The monthly holding cost is $2 per unit, and it costs an estimated $55 to process an order. a.Assuming that monthly demand will be level during each of the six-month periods covered by the forecast (e.g., 100 per month for each of the first six months), determine an order size that will minimize the sum of ordering and carrying costs for each of the six-month periods. (Round your answers to the nearest whole number.) Period Order Size 1 – 6 months?_____units 7 – 12 months?_____units b.If the vendor is willing to offer a discount of $10 per order for ordering in multiples of 50 units (e.g., 50, 100, 150), would you advise the manager to take advantage of the offer in either period? If so, what order size would you recommend? (Round intermediate calculations to 2 decimal places.) Period Order Size 1 – 6 months?____ units 7 – 12 months?____…B). A company wants to develop a level production plan for a family of products. The opening inventory is 100 units, and an increase to 150 units is expected by the end of the plan. The demand for each period is given in what follows. How much should the company produce each period? What will be the ending inventories in each period? All periods have the same number of working days. Period 1 4 6. Total Forecast Demand | 100 120| 130 140 120 | 110 Planned Production Planned 100 Inventory C). For the following data, calculate the number of workers required for level production and the resulting month-end inventories. Each worker can produce 15 inventory is 9000 units. units per day, and the desired ending Month 1 2 3 4 Total Working Days 20 24 12 19 Forecast Demand 28,000 27,500 28,500 28,500 Planned Production Planned Inventory 11,250
- The table below provides demand data for 6 weeks (weeks 31-36 for the current year) for one product. Inventory is managed with a periodic review system where T = 5 weeks and M = 280. The previous order was for 120 units at the end of week 28. The lead time is a constant 4 weeks. At the beginning of week 31 the inventory level is 130 units. Orders are made at the end of a week. 1. When is the next order? end of week __________ 2. How large is the next order? ___________ Week Demand Inventory 31 30 32 40 33 45 34 30 35 30 36 30Reorder PointConsider an economic order quantity case where annual demand D = 1,000 units, economic order quantity Q = 200 units, the desired probability of not stocking out P = .95, the standard deviation of demand during lead time σL = 25 units, and lead time L = 15 days. Determine the reorder point. Assume that demand is over a 250-workday year.1. The demand for a product of Carolina Industries varies greatly from month to month. Based on the past three years of data, the following shows the monthly demand at Carolina Industries. Unit Demand # Months 300 6 400 8 500 12 600 10 A.If the company places monthly orders equal to the expected value of the monthly demand, what should Carolina’s monthly order quantity be for this product? B. What are the variance and the standard deviation for the number of units demanded?