EXPERT SOLUTION: running a business  <<<<>>>Dandy Collectibles is opening a new warehouse. Travis Randolph, the war

running a business 

<<<<>>>Dandy Collectibles is opening a new warehouse.

Travis Randolph, the warehouse manager, is trying to determine the labor compensation package that most productively utilizes resources. The typical compensation plan offers an hourly wage rate of $13.00. Mr. Randolph is also considering an incentive plan. The incentive plan rewards solely on performance with orders earning $0.40/unit prepared for shipping. A typical week shows the number of units that must be shipped which is 17,280.

Errors sometimes happen in Dandy’s orders picking. Product mishandling occurs in 1 percent of the orders under the incentive plan and in 0.5 percent of the orders under the hourly wage plan. Errored orders are scrapped and result in LOST revenue of $60 per occurrence.

Hourly workers pick 20 units per hour. Incentive workers pick 28 units per hour. Regardless of the pay plan per employee, each employee works 40 hour weeks / 5 day weeks. All orders must be shipped by Friday of each week.

 

REQUIREMENT for assignment:

A. How many workers are needed under each plan for the work week demand?

B. Which plan meets the weeks demand for the lowest cost, including lost sales resulting from errors?

Please complete this assignment in Excel. 

HINT:

· Plan workers = units / units per hr x hours

· Plan expense = workers x cost per hour x hours

· Error cost = units x percent = errors x cost per error

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