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Chapter 4: Q2DQ (page 507)

Distinguish between pure and mixed strategies in production planning.

Short Answer

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Answer

A production plan is a mechanical assembly that associations can use to encourage a strategy for satisfying expected needs while restricting costs. Production planning strategies plan for fulfilling a need that includes compromises in the number of laborers utilized, work hours, stock, and deficiencies.Three production planning strategies are given underneath;

  1. Chase strategy
  2. Stable workforce
  3. Level strategy

When only one of these factors is utilized for ingesting request fluctuations, it is named a pure strategy; at least two utilized in a blend establish a mixed strategy.

Step by step solution

01

Pure strategy

Pure level strategies are worried about keeping up with the labor force or result rates consistently. Production will be reliable within a similar time frame for which total planning is finished. Stock and delay purchases assist with overseeing request variances and market changes.

02

Mixed strategy

Under the mixed strategy, stock and labor force levels are permitted to change during the planning skyline. Consequently, it is a blend of the "chase" and "level" strategies. This will be a decent strategy if the expenses of keeping up with stock and changing labor force levels are moderately high.

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Most popular questions from this chapter

Daily demand for a product is 60 units with a standard deviation of 10 units. The review period is 10 days, and the lead time is 2 days. At the time of review, there are 100 units in stock. If 98 percent service probability is desired, how many units should be ordered?

Historical demand for a product is:

Month

Demand

January

12

February

11

March

15

April

12

May

16

June

15

a. Using a weighted moving average with weights of 0.60, 0.30, and 0.10, find the July forecast.

b. Using a simple three-month moving average, find the July forecast.

c. Using single exponential smoothing witha= 0.2 and a June forecast =13, find the July forecast. Make whatever assumptions you wish.

d. using simple linear regression analysis, calculate the regression equation for the preceding demand data.

e. using the regression equation in d, calculate the forecast for July.

Daily demand for a certain product is normally distributed with a mean of 100 and a standard deviation of 15. The supplier is reliable and maintains a constant lead time of 5 days. The cost of placing an order is \(10 and the cost of holding inventory is \)0.50 per unit per year. There are no stockout costs, and unfilled orders are filled as soon as the order arrives. Assume sales occur over 360 days of the year. Your goal here is to find the order quantity and reorder point to satisfy a 90 percent probability of not stocking out during the lead time.

a. What type of system is the company using?

b. Find the order quantity.

c. Find the reorder point.

What are the advantages and disadvantages of aggregating demand from a forecasting view? Are there other things that should be considered when going from multiple DC鈥檚 to one DC?

Distinguish between dependent and independent demand in a McDonald鈥檚 restaurant, in an integrated manufacturer of personal copiers, and a pharmaceutical supply house.
See all solutions

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