Abc limited has a production capability of 2.4 million units but currently produces less than 1.3 million units. To reach 75% utilization level at which it is beak even point capacity needs to be reduced by 30%. The company plans to reduce capacity to 1.65 million units which is 82% utilization. The managers intends to close 5 factories which employs 16000 employees therefore cutting capacity by 30% which has a utilization of 80%. Come up with three quandratic equations from the above information.
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Abc limited has a production capability of 2.4 million units but currently produces less than 1.3 million units. To reach 75% utilization level at which it is beak even point capacity needs to be reduced by 30%. The company plans to reduce capacity to 1.65 million units which is 82% utilization. The managers intends to close 5 factories which employs 16000 employees therefore cutting capacity by 30% which has a utilization of 80%. Come up with three quandratic equations from the above information.
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- The Tinkan Company produces one-pound cans for the Canadian salmon industry. Each year the salmon spawn during a 24-hour period and must be canned immediately. Tinkan has the following agreement with the salmon industry. The company can deliver as many cans as it chooses. Then the salmon are caught. For each can by which Tinkan falls short of the salmon industrys needs, the company pays the industry a 2 penalty. Cans cost Tinkan 1 to produce and are sold by Tinkan for 2 per can. If any cans are left over, they are returned to Tinkan and the company reimburses the industry 2 for each extra can. These extra cans are put in storage for next year. Each year a can is held in storage, a carrying cost equal to 20% of the cans production cost is incurred. It is well known that the number of salmon harvested during a year is strongly related to the number of salmon harvested the previous year. In fact, using past data, Tinkan estimates that the harvest size in year t, Ht (measured in the number of cans required), is related to the harvest size in the previous year, Ht1, by the equation Ht = Ht1et where et is normally distributed with mean 1.02 and standard deviation 0.10. Tinkan plans to use the following production strategy. For some value of x, it produces enough cans at the beginning of year t to bring its inventory up to x+Ht, where Ht is the predicted harvest size in year t. Then it delivers these cans to the salmon industry. For example, if it uses x = 100,000, the predicted harvest size is 500,000 cans, and 80,000 cans are already in inventory, then Tinkan produces and delivers 520,000 cans. Given that the harvest size for the previous year was 550,000 cans, use simulation to help Tinkan develop a production strategy that maximizes its expected profit over the next 20 years. Assume that the company begins year 1 with an initial inventory of 300,000 cans.Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.Demand is forecasted using the following regression equation: D = 100 + 15(t) where “t” is a specified future time period. The current time period is 0 (t=0). The machines used to make this product have a capacity of 50 units/time period. The company currently has 4 machines yielding a total capacity of 200 units/time period. Due to technology changes, the current equipment will become obsolete at the end of period 15. If a new machine costs $2000, and the net revenue earned per unit is $10, how many machines should be added between today (t=0) and the end of period 15?
- The ABC Company is making a production plan for the next year, given the sales forecast for the next year as: Quarter 1 2 3 4 Total Sales Forecast (units) 9,000 12,000 16,000 12,000 49,000 Currently, the firm has 12 employees, each producing up to 1,000 units per quarter and earning $2,000 per quarter. The firm estimates its inventory carrying cost to be $2 per unit of ending inventory per quarter and its hiring or layoff costs to be $1,600 per employee. The company currently has an inventory of 2,000 units and wishes to have an ending inventory of at least 1,000 units at the end of each quarter. The company does not plan to incur inventory shortages. Find the optimal production plan that minimizes the total cost by Excel solverHudson Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. The annual cost of each option (in thousands of dollars) depends on demand as follows: Demand Staffing Options High Medium Low Own staff 600 550 350 Outside vendor 900 650 450 Combination 700 600 400 a. If the demand probabilities are 0.4, 0.25, and 0.35, which decision alternative will minimize the expected cost of the data processing operation? Own Staff What is the expected annual cost associated with that recommendation? If required, round your answer to the nearest thousand of dollars. Expected annual cost = $ ___________Hudson Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. The annual cost of each option (in thousands of dollars) depends on demand as follows: Demand Staffing Options High Medium Low Own staff 650 650 600 Outside vendor 900 600 300 Combination 800 650 500 If the demand probabilities are 0.2, 0.5, and 0.3, which decision alternative will minimize the expected cost of the data processing operation? What is the expected annual cost associated with that recommendation? Expected annual cost = $fill in the blank 2 Construct a risk profile for the optimal decision in part (a). The input in the box below will not be graded, but may be reviewed and considered by your instructor.
- HERO Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. The annual cost of each option (in thousands of pesos) depends on demand as follows: Demand Demand Demand Staffing Options High Medium Low Own staff 352 325 300 Outsider vendor 450 300 150 Combination 400 325 250 If the decision maker knows nothing about the probabilities of the four states of nature, what is the recommended decision using:i. the optimistic approach and the conservative approach iii. the minimax regret approach iv. the Laplace methodProblem 4-07 Hudson Corporation is considering three options for managing its data processing operation: continuing with its own staff, hiring an outside vendor to do the managing (referred to as outsourcing), or using a combination of its own staff and an outside vendor. The cost of the operation depends on future demand. The annual cost of each option (in thousands of dollars) depends on demand as follows: Demand Staffing Options High Medium Low Own staff 650 650 600 Outside vendor 900 600 300 Combination 800 650 500 If the demand probabilities are 0.2, 0.5, and 0.3, which decision alternative will minimize the expected cost of the data processing operation? _______________ (own staff, outside vendor, or combination) What is the expected annual cost associated with that recommendation?Expected annual cost = $________ (fill in the blank) Construct a risk profile for the optimal decision in part (a).The input in the box below will not be graded, but may be…Pastureland Dairy makes cheese, which it sells at local supermarkets. The fixed monthly cost of production is $4,000, and the variable cost per pound of cheese is $0.21. The cheese sells for $0.75 per pound; however, the dairy is considering raising the price to $0.95 per pound. The dairy currently produces and sells 9,000 pounds of cheese per month, but if it raises its price per pound, sales will decrease to 5,700 pounds per month. Should the dairy raise the price?
- A local canning company sells canned vegetables to a supermarket chain in the Minneapolis area. A typical case of canned vegetables requires an average of 0.2 day of labor to produce. The aggregate inventory on hand at the end of June is 800 cases. The demand for the vegetables can be accurately predicted for about 18 months based on orders received by the firm. The predicted demands for the next 18 months are as follows: (given) The firm currently has 25 workers. The cost of hiring and training a new worker is $1,000, and the cost to lay off one worker is $1,500. The firm estimates a cost of $2.80 to store a case of vegetables for a month. They would like to have 1,500 cases in inventory at the end of the 18-month planning horizon. a. Develop a spreadsheet to find a plan that hires and fires workers monthly in order to minimize inventory costs. Determine the total cost of that plan as well.The college campus, it turns out, can be an ideal incubator for hatching small businesses. Nanina’s Gourmet Sauce, a pasta sauce company based in Belleville, N.J., was started, for instance, in 2005 by students taking an entrepreneurship course at Monmouth University in West Long Branch, N.J. Nanina’s products are now sold in nearly 400 supermarkets and gourmet shops in New Jersey and Manhattan, and the company’s director of operations is 23-year-old Nick Massari, a student in that class. The course at Monmouth is one of thousands of similar offerings on campuses across the United States. Undergraduate courses in how to start and run a small business are becoming as ubiquitous as Economics 101. Gone is the conventional wisdom that running a small business cannot be learned by sitting in a classroom. According to the Kauffman Foundation in Kansas City, Mo., more than 2,000 colleges and universities now offer at least a class and often an entire course of study in entrepreneurship. That…Always Rain Irrigation, Inc., would like to determine capacity requirements for the next four years to make three types of bronze sprinklers: 90-degree nozzle sprinklers, 180-degree nozzle sprinklers, and 360-degree nozzle sprinklers. Management has forecast demand for the next 4 years as follows: Yearly Demand in 000's: Year 1, Year 2, Year 3, Year 4: Bronze 90: 7, 8, 9, 10 Bronze 190: 3, 4, 5, 6 Bronze 360: 11, 12, 15, 18 The machines needed for the bronze sprinklers require two operators, and can produce up to 12,000 sprinklers. Three bronze machines and only one injection molding machine are available. What are the capacity requirements for the next four years, assume that there is no learning? Capacity: Year 1, Year 2, Year 3, Year 4: Demand for bronze sprinklers: Percentage of capacity used: Machine requirements: Labor requirements: