Question: Problem 1: JIT Setup Cost and Time Suppose that Roger, a production manager, is trying to run JIT. The product Annual Demand is 300,000 units,

Problem 1: JIT Setup Cost and Time Suppose that Roger, a production manager, is trying to run JIT. The product Annual Demand is 300,000 units, with 250 working days in a year, which means daily demand is 1200 . The desired lot size will be 1200/3=400 for Q. His production line can produce 2400 units per day. Holding cost is $30/ unit. a) What will his setup cost be for one setup? b) What will his permitted setup time be (in hours), if the wage rate is $20 for one employee

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