How to minimize labour costs by optimal production volume allocation
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How to level load production volume (production planning) so that you employ minimum number of temp labour and keep labour costs at a minimum. In this video, I will show you how to use the Solver Add-in in Excel to allocate monthly production volume in a way that the manufacturing organisation ends up spending the minimum amount on labour. This assumes that you have a fixed number of full time staff, and you are production planning to ensure that the variable temp costs are kept to a minimum. You can learn to add different types of constraints to arrive at the best possible solution. Try multiple scenarios and add constraints to find the most optimal solution for cost saving and efficient manufacturing volume planning.
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