I have labeled the three worksheets below for your solutions. Use them in this same file and just change the file name to put your last name$($s$)$

Use Level Production Strategy $($Constant Production, will have inventory and backorder$--$see explanation below$)$

Use Chase Production strategy $($Hire and Fire$)$

Use your unique strategy$--$a combination of different strategies$--$explain the strategy in a couple of sentences

Instructions:

Solution for each strategy needs to be on different spreadsheets labeled below as Level, Chase and Unique.

Show the formulae and calculation for each strategy. In other words, cannot use calculator and type answers in$.$ I want to see your Excel skills also.

Backorder Example:

Back Order is like negative inventory. Let's assume John Doe orders $10$ tractors from a tractor dealer in the month of January. The retailer has only four to ship and is short by six to meet the demand. The retailer met the demand for $4$ tractors and had the remaining six on backorder. Let's assume that John received the tractor in April, three months after it was ordered. The ractor dealer incurred a backorder cost for $3$ months $($ $$20**3$ months $=$$$60$ per unit$).$ Obviously, you cannot have inventory and backorders in the same month, just like you cannot have hiring and laying off in the same month! Keep in mind, Stockout means you lose the demand completely while backorder means you meet the demand late!