It Costs $12 to Make a Single Unit Using Regular

question 50

Essay

It costs $12 to make a single unit using regular production and $15 to make a single unit using overtime production. Total overtime production is limited to 500 units for the five-month period. The manufacturing plant has a regular production capacity of 250 units per month and 50 units in inventory at the start of the planning period. There is a $5 per unit charge for holding inventory at the end of each month and a limit of 250 units ending inventory for any period. Develop an objective function and constraints to solve this problem.
$$\begin{array} { | l | c | } \hline { \text { Month } } & \text { Forecast } \\\hline \text { Fanuary } & 250 \\\hline \text { February } & 200 \\\hline \text { March } & 300 \\\hline \text { April } & 400 \\\hline \text { May } & 500 \\\hline\end{array}$$

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Definitions:

Social Comparison Theory

A theory suggesting that individuals determine their own social and personal worth based on how they stack up against others.

Our Performance

refers to the execution or accomplishment of work, actions, or tasks by a person or a group, typically evaluated in the context of specific goals or standards.

Group Think Effect

The group think effect is a psychological phenomenon where the desire for group consensus and harmony overrides individuals' ability to critically evaluate alternative viewpoints.

Illusion Of Disagreement

A perception that a disagreement exists when, in fact, parties involved share more common ground than perceived differences.