Then it bases optimal production plan on the forecasted value.
This application has the following functionality
1. It find the optimal production plan for a 6-month planning horizon, using the data observed to date.
2.It allows users to view the historical data along with the exponentially smother forecasts, in tabular and graphical form
3. Demands are seasonal with an upward trend, so it is appropriate to use winter exponential smoothing method. Unit production costs are nos seasonal but they have an upward trend.
Therefore it is appropriate to use Holt's exponential smoothing method for the cost data.
4. The optimization has one nonstandard feature. The percentage of any month production that is available to satisfy that month demand can be less than 100%. For example, is this percentage 70% then 70%of this month production can be used to satisfy this month demand.
The other 30% of this month production is then available for future month's demands.
5. The inventory cost in any cost in any month is based on the ending inventory for the month.
Category Sales & Marketing
Project size Small
Is this a project or a position? Project
Required availability Full time
Deadline: November 29, 2020