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Question
Fred's Fabrication has the following aggregate demand requirements and other data for the upcoming four quarters.
| Quarter | Demand | Previous quarter's output | 800 units | |
| 1 | 700 | Beginning inventory | 0 units | |
| 2 | 900 | Stockout cost | $100 per unit | |
| 3 | 1200 | Inventory holding cost | $10 per unit at end of quarter | |
| 4 | 600 | Hiring workers | $20 per unit | |
| Laying off workers | $40 per unit | |||
| Subcontracting cost | $200 per unit | |||
| Unit cost | $100 per unit |
Which of the following production plans is better: Plan Achase demand by hiring and layoffs; Plan Bpure level strategy, or Plan C700 level with the remainder by subcontracting?
Answer
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