The initial objectives: maximize the profit $27,670.7 (you should re-calculate)
100 % customer satisfaction
The strategy we using in the simulation,
Capacity: fully utilization
Inventory management: hold inventory in order to achieved 100% satisfaction.
JIT order material.
Forecasting and scheduling: lean production, stable production, we using the weekly forecasting in the beginning then choose use monthly forecasting at the stage two.
We calculate the unit cost by each shift, day shift is $37, night shift, evening… (you need to re calculate), by fully utilization the capacity. And make MPS to plan the production.
The method that we calculate and forecasting the demand is using the comparison of the total demand of current year (first 12 weeks) with previous year in order to calculate the grows, then sum of the following weeks (the first stage is 12 weeks) demand, the calculate the current year next 12 weeks’ demand, then divide weeks to get weekly demand. Every stage need to re-forecasting again, the grows rate will change. From 2nd stage we change to forecasting monthly demand (divide months) then using MPS to make production plan. However, due to time limited and over-reactive the result and didn’t mention the finance, we make the mistake then didn’t follow the initial plan (this is our problem). Make in stock that tie up our cash.
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