- What is aggregate planning? Describe the aggregate planning process briefly. Why do organizations have to do aggregate planning? (5+10+10 Points)
- Identify and describe in detail two demand based and two supply based strategies for aggregate planning with examples? (25 Points)
- What are the different ways to keep track of inventory in organizations? Explain clearly and in detail each of the approaches identifying some of the technologies that may be used for each approach (25 Points)
- A producer uses 800 packing crates a month, which it purchases at a cost of KWD 20 each. The manager has assigned as annual carrying cost of 35 percent of the purchase price per crate. Ordering costs are KWD 28 per order. Currently the manager orders 800 crates once every month.
- Is what the manager currently ordering ideal quantity to order? What is the Economic Ordering Quantity? (10 points)
- How many times will the manager need to order in a month based on EOQ? (5 points)
- How much could the firm save annually in ordering and carrying cost by using EOQ, compared with the cost of what the manager is currently ordering? (10 points)