8.3 - Strategies for Coping with Demand Fluctuations
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Practice Questions
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Define demand fluctuation in your own words.
💡 Hint: Think about how demand might change throughout the year.
What is one downside of using overtime production?
💡 Hint: Consider what happens to worker pay.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is a key cost associated with overtime production?
💡 Hint: Think about how salaries change during overtime.
True or False: Adjusting workforce size has no costs associated with it.
💡 Hint: Consider the costs related to each workforce adjustment.
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Challenge Problems
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Given a demand of 700 carpets in October but a production capacity of only 600, how would you recommend managing this situation? Consider overtime, hiring and firing costs.
💡 Hint: Analyze the costs of both options compared to expected revenues.
Create an optimal production plan using linear programming for a year, factoring in seasonal demands varying from 440 to 920 carpets. Include costs for overtime and storage.
💡 Hint: Consider how monthly demand and production capacity will affect your model.
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