The production manager of a manufacturing company has to devise a production plan for item AK102…

 The production manager of a manufacturing company has to devise a production plan for item AK102 for the

The production manager of a manufacturing company has to devise a production plan for item AK102 for...

next four months. The item is to be produced at most once monthly; because of capacity limitations the monthly production may not exceed 10 units. The cost of one setup for any positive level of production in any month is $10.

The demand for this item is uncertain and varies from month to month; from past experience, however, the manager concludes that the demand in each month can be approximated by a Poisson distribution with parameter λn (n shows the month to which the distribution refers).

Inventory is counted at the end of each month and a holding cost of $10 is charged for each unit; if there are stockouts, a penalty of $20 is charged for every unit out of stock. There is no initial inventory and no outstanding back-orders; no inventory is required at the end of the planning period. Assume that the production lead time is short so that the amount released for production in one month can be used to satisfy demand within the same month.

What is the optimal production plan, assuming that the optimality criterion is the minimum expected cost? Assume that λ1 = 3, λ2 = 5, λ3 = 2, λ4 = 4 units.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Online Academic Experts
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Business Studies
First of all, the writer made sure that he completely understood my assignment and all the guidelines before he began writing. My paper was finished very fast and well before the specified deadline. I thought it was written excellently. He definitely completely grasped the topic. Overall, he is a great writer and I couldn't have asked for better.
Customer 452441, November 29th, 2021
Management
It was gotten well after time I needed to make needed additions, but it is something that did help me. I could not get the concept of ho to start such a project but now reading this, I was over thinking the project it seems.
Customer 452801, July 19th, 2021
Psychology
quick, fast and exact!
Customer 453027, May 24th, 2022
IT, Web
Awesome paper in such a short amount of time. Was in a jam with another service who didn't deliver, but Theresa did the job correctly. I will use her again to do my essays for sure!
Customer 452967, November 27th, 2021
Sociology
THANK YOUUUUU
Customer 452591, March 18th, 2021
Human Resources Management (HRM)
My son and I have been sick for two weeks, of course at the end of my semester. I am so grateful that myhomeworkgeeks were able to help! Both papers got A's and I couldn't be more thrilled! Thank you so much and don't forget to tip your writer!
Customer 453077, February 22nd, 2022
English 101
Thank you for this excellent analysis of the Alchemist.
Customer 453213, June 15th, 2022
Management
Thank you!!! I received my order in record timing.
Customer 452551, February 9th, 2021
Health Care
The writer did not follow my choice of topic (Food/Water Insecurity, Hunger, & Poverty), the paper was instead written about Climate Change in Africa. However, the paper was still great and informative. Thank you!
Customer 452777, January 28th, 2022
English 101
IThank you
Customer 452631, April 6th, 2021
Criminal Justice
The paper was not accused of plagiarism and was written very well. I will let you know the grade once it is graded. Thank you
Customer 452671, April 26th, 2021
Human Resources Management (HRM)
Always great! My son has been in critical health these last few semesters. Many times I have thought he wasn't going to make it and thought about quitting or postponing school until he was healthier but it always happens to be in the middle of the semester. This service has been a lifesaver for my mindset in helping keep my grades up and keep my son alive at the same time. I don't know if I could have made it through this period without it.
Customer 453077, June 6th, 2022
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
AllEscortAllEscort
Live ChatWhatsApp
AllEscort