Question: Solve the below using Winters Mathematical Modelling. Dont use CHATGPT or AI. Show me calculations: Table-2.1 Costs and other information Item Cost Material cost 15/unit
Solve the below using Winters Mathematical Modelling. Dont use CHATGPT or AI. Show me calculations:
Table-2.1 Costs and other information
| Item | Cost |
| Material cost | 15/unit |
| Inventory holding cost | 0.3/unit/month |
| Marginal cost of stockout/backlog | 25/unit |
| Hiring and training cost | 1000/worker |
| Layoff cost | 2000/worker |
| Labour hours required | 3 hours/unit |
| Regular time cost | 6/hour |
| Overtime cost | 12/ hour |
| Cost of subcontracting | 38/unit |
| Starting workforce size | 100 |
| Overtime limitation per worker | 10 hours/month |
| Initial inventory | 1000 units |
| End inventory | 1000 units |
| Shift | 1 |
| Hours per day | 8 |
| Days per month | 4 weeks * 5 days |
| Selling price | 40/unit |
Table-2.2 Demand Forecast of 2020
| Forecast | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| 2020 | 5,000 | 3,000 | 4,000 | 3,000 | 7,000 | 6,000 | 8,000 | 11,000 | 20,000 | 20,000 | 22,000 | 8,000 |
The operational data of costs and other information of South West Electronics (SWE) Ltd are provided in table-2.1. Using the demand forecast given in table-2.2, make an aggregate production plan of 2020 for SWE. Please specify how you build your planning model with necessary calculation progress included and conclude your forecasting results.
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