Production management means planning, organising, directing and controlling of production activities

May 29th, 2015
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The gross requirements schedule for a product Z is given below. The management of the company believes in taking the advantage of Economic Order Quantity also and has decided on a EOQ for a product Z of 1000 units . The lead time to produce Z is four weeks . If the company believes in keeping a safety stock of 500 units of Z and if, at this moment, there are 700 items in stock , compute the MRP . Assume a lot for lot ordering.

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Assignment: Production managementQuestion 1The gross requirements schedule for a product Z is given below. The management of the company believes in taking the advantage of Economic Order Quantity also and has decided on a EOQ for a product Z of 1000 units . The lead time to produce Z is four weeks . If the company believes in keeping a safety stock of 500 units of Z and if, at this moment, there are 700 items in stock , compute the MRP . Assume a lot for lot ordering. Week No 1 2 3 4 5 6 7 8 9 10Requiremments - 100 100 - 1200 - - 1900 - 100 Suppose that the requirement schedule is the same as before and there are 700 units of Z on hand (as before) but, the company management is changing its procedures from keeping a safety stock to maintaining a safety time for production of Z. From the limited data given below , ccompute the changed MRP . Assume a lot for ordering , as ealierWeek12345678910Opening Balance700Gross Requirement0100100012000019000100Scheduled Receipt10002002000Projected Inventory7006005005003005002500600600-1700Net Requirement000020000190001700Planned Order100020020001000Week12345678910Opening Balance700Gross Requirement0100100012000019000100Scheduled Receipt1000

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