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Certified in Production and Inventory Management Questions 51–55 (page: 12)

On the average a firm has 10 weeks of work-in-process and annual cost of goods sold is $15 million. Assuming that, the company works 50 weeks a year. What is the dollar value of the work-in-process?

In the above question, if the work-in-process could be reduced to 7 weeks and the annual cost of carrying inventory was 20% of the inventory value, what would be annual saving?

Which of the following is/are included in five major levels in the manufacturing planning and control system?

Each level of MPC (Manufacturing planning and control) differs in the following:

Purpose of the plan
Planning Horizon
Level of detail
Planning Cycle

Since each level is:

1) What are the priorities-How much of what is to be produced and when?
2) What is available capacity-What resources do we have?
3) How can differences between priorities and capacity be resolved? These questions must be answered: