Answer Happy

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 900, 1,550, and 1,170, 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 600 units. Manufacturing cost is $210 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 stock-out is $8 per unit per month, marginal cost of subcontracting is $12 per unit, hiring and training cost is $120 per worker, layoff cost is $220 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 the cells blank, whenever zero (0) is required. Input all values as positive values. Round up "Workers Required to the next higher whole number. Round all other answers to the nearest whole number.) January March February 1,550 1,170 Forecast Safety stock Beginning inventory Net production required Workers required Hired Laid off Actual production Ending inventory March Labor Inventory Hiring Layoff Total January 900 February Total