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Essay / Research Paper Abstract
This 8 page paper answers two questions set by the student. The first considers scheduling and planning inventory purchase for a variable production demand. The second questions looks at issues a production manager may consider where there is a variable demand, such as how to forecast demand, the costs of adding in a new shift and any alternative approaches to increasing the production levels. The bibliography cites 5 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEschedcase.rtf
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Unformatted sample text from the term paper:
we need to set up a production schedule and inventory ordering plan. To set up a production schedule there are several considerations we need to take into account.
In general terms the costs of production will be lower where there is an ability to plan ahead and there is not the need to keep adjusting, paying for overtime
one week and then having unused capacity other weeks. By planning the optimum level of output for the period, even if this means slight adjustments, they can be planned.
We are going to assume there is no finished stock items at the beginning of the eleven week period and that the very high demand weeks would be uneconomic to
increase and decrease production each week, as well as unsettling for the staff. There is also going to be an optimum production level we are going to assume that
this is between the 5,000 - 6,000 units a week, and above this there will be a disproportionate increase in costs. Where the fixed costs remain the same this level
is determined by looking at the cost structure and can be represented in graph (Nellis and Parker, 2000). The more curved line is the marginal cost which reduces and then
starts to increase, the addition of the fixed cost have the impact on the total cost of decreasing it and then increasing it. The optimum point is where the average
total cost is at the lowest which is where the marginal cost line crises it. There are also weeks where there
may be a level may be above the capacity of the factory and this means there is also the need for the build up of stock in advance. This can
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