Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Operation Management Expert

The production manager at Old-Time Boats must determine how many Party Pontoons to produce over the next 6 months. The beginning inventory of Party Pontoons is 400 units. The demand for the next 6 months is as follows: Month 1 = 1,000 units; Month 2 = 1,500 units; Month 3 = 1,800 units; Month 4 = 2,000 units; Month 5 = 1,500 units; Month 6 = 1,300 units. The capacity in each month for Months 1 – 3 is 1,650 units per month. The capacity in each month for Months 4 – 6 is 1,725 units per month. The production cost in Months 1 – 3 is $8,000 per unit. The production cost in Months 4 – 6 is $9,900 per unit. Inventory holding cost for any units in ending inventory each month in Months 1 – 3 is $600/unit/month and for Months 4 – 6 is $950/unit/month. Top management has specified that ending inventory in Month 6 should be at least 140 units. (a) Formulate the linear programming model within your Word Report: Define the decision variables, the objective function, and the constraints. (b) Create the Solver model for this problem. Run the model. How many Party Pontoons should Old-Time Boats produce in each of the next 6 months? What will be the ending inventory each month? What will be the estimated total cost be over the next 6 months? Show your answers in your Word document.

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M92026845

Have any Question?


Related Questions in Operation Management

Egalitarianism is a fundamental of high performing work

Egalitarianism is a fundamental of high performing work systems. What type of jobs/organizations naturally fall under an egalitarian philosophy? Which ones may struggle with this? Is there a substitute for egalitarianism ...

A mail-order house uses 16075 boxes a year carrying costs

A mail-order house uses 16,075 boxes a year. Carrying costs are 44 cents per box a year, and ordering costs are $95. The following price schedule applies. Number of Boxes Price per Box 1,000 to 1,999 $1.45 2,000 to 4,999 ...

Braintrust toys is a toy maker that has as its mission

Braintrust Toys is a toy maker that has as its mission, “Our purpose is to expand the minds of children 1 month–100 years old.” Currently they use a product development strategy, but believe that maybe they need to orien ...

1 describe a conflict management process you might use that

1. Describe a conflict management process you might use that could fit with any project management team 2. What was the business-Level strategy in the Online Sales Business Division, Amazon in 2016? What was the structur ...

Principles of healthcare operations management suggest that

Principles of healthcare operations management suggest that the primary goals are to reduce costs, eliminate waste, and ensure that resources are being used efficiently. Provide some examples of where and when you observ ...

Scenario you are a sole proprietor presenting to a group of

Scenario: You are a sole proprietor presenting to a group of investors, seeking 20 million dollars to raise capital for your solar panel manufacturing and installation company, Solar Co. Prepare a 7- to 10-slide Microsof ...

1 who are the key stakeholders affected by the united

1. Who are the key stakeholders affected by the United Airlines scandal - What is the result? 2. Examine how the concept "Translate Thought Into Action" has bearing on the relationship between business strategy and opera ...

Calls arrive at lynn ann fishs hotel switchboard at a rate

Calls arrive at Lynn Ann? Fish's hotel switchboard at a rate of 2.52.5 per minute. The average time to handle each is 1010 seconds. There is only one switchboard operator at the current time. The Poisson and negative exp ...

1 why are peoples ethical characters so important to

1. Why are people's ethical characters so important to business and society? 2. There are some factors that customers expect such as reliability, credibility, security, communication, responsiveness, courtesy, and compet ...

1 all of the following are included in the eight wastes

1. All of the following are included in the eight wastes EXCEPT? a. Overproducing b. Extra-Processing c. Overspending d. Waiting 2. Which one of the following is NOT a quality tool of Six Sigma? a. Flow Diagrams b. Check ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As