Homework
Create a semiannual production plan for your new business idea, product, or service using notional demand and inventory data. This initial production plan is based on your market estimates of what you intend to sell and produce.
Create a semiannual production plan for your new business idea, product, or service using notional demand and inventory data. This initial production plan is based on your market estimates of what you intend to sell and produce.
The paper is managing the project to implement your intended new product/service into the marketplace, but you have to create a production plan that is supported by your market forecasts, and that is the purpose of this homework.
Prompt: The plan should replicate the techniques in the text and can be submitted in a basic tabular (spreadsheet) format. It must include the following:
i. Estimates of labor hours consumed
ii. Estimated number of worker requirements considering a standard work week, current inventory levels, receipts of new inventory during each month, and varying demand levels for each month of production
iii. For service businesses that do not include inventory or raw goods for the assembly line, the inventory of the support materials/equipment or consumable materials can be used.
Specifically, the following critical elements must be addressed:
i. Create a semiannual production plan using notional demand and inventory.
ii. Estimate the labor hours consumed.
iii. Estimate the number of worker requirements considering a standard work week, current inventory levels, receipts of new inventory during each month, and varying demand levels for each month of production.
Format your homework according to the following formatting requirements:
i) The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
ii) The response also includes a cover page containing the title of the homework, the student's name, the course title, and the date. The cover page is not included in the required page length.
iii) Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.