Q2. Inventory Management: a) Discuss the importance of effective inventory management in the context of developing and manufacturing electric wires for home use. b) Develop an inventory management strategy that minimizes holding costs while ensuring an uninterrupted supply chain for raw materials and components. c) Explain how the chosen inventory management strategy aligns with lean principles and contributes to the overall efficiency of the project.
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- Q4) A manufacturer provides specialized microchips. During the next 3 months its sales, costs, and available time are shown in the table. Month 1 Month 2 Month 3 There are no chips in stock at the beginning of the first month. It takes 1.5 hr of production time to produce a chip and costs $5 to store a chip from one month to the next. Determine a production schedule that meets the demand requirements, does not exceed the monthly production time limitations, and minimizes cost. Note that no chips should be in stock at the end of the 3 months. Use fmincon. Chips required Cost regular time ($/chip) Cost overtime ($/chip) Regular operation time (hr) Overtime (hr) 1000 100 110 2500 100 120 2200 120 130 2400 2400 720 2400 720 720Subject: Logistic management Q): What are the 2 approaches of BPR for implementation, give example? Q): What are the types & category of inventory management?“means-ends analysis”. Provide an ORIGINAL example in which you state and illustrate the three steps involved
- 1.The managers of Kai’s Catering want to increase the number of events booked by 20%. To accomplish this, a(n) ________ was established to include clear weekly targets for number of deposits received. Multiple Choice means-end chain operating plan strategic plan scenario analysis 2. Prior to Apple’s debut of the iPhone, Microsoft was also working on a revolutionary smart phone. Microsoft was already one of the world’s leading technology companies with thousands of engineers and designers with hundreds of millions of dollars for their R&D budget. Despite having a solid strategy and adequate resources, Microsoft derailed cross-departmental cooperation, perpetuated unhealthy competition among its employees, and ultimately Multiple Choice closed the business due to a labor strike. failed to implement its strategy. developed a competitive advantage in smart phones. fired Bill Gates. 3. You receive a memo that reads as follows: “In recent months, our customer evaluations have…Requirement Classify each of the cost items (a-h) into one of the business functions of the value chain. Cost Item Value Chain Business Function a. Utility costs for the plant assembling the Latitude computer line of products b. Distribution costs for shipping the Latitude line of products to a retail chain c. Payment to David Newbury Designs for design of the XPS 2-in-1 laptop d. Salary of computer scientist working on the next generation of servers e. Cost of Dell employees' visit to a major customer to demonstrate Dell's ability to interconnect with other computers f. Purchase of competitors' products for testing against potential Dell products g. Payment to business magazine for running Dell advertisements h. Cost of cartridges purchased from outside supplier to be used with Dell…Consider the following information. PART X Gross Requirements Scheduled Receipts Projected On-Hand Inventory 100 Q = 60, LT= 3 weeks, Safety Stock = 5 1 70 70 PART X Gross Requirements Scheduled Receipts Projected On-Hand Inventory 100 Planned Order Releases 1 70 70 100 2 0 > X WEEK 3 40 Compute the planned order releases and projected on-hand inventory for component part X. Round your answers to the nearest whole number. If your answer is zero, enter "0". 2 0 4 0 100 WEEK 3 40 5 160 60 4 0 40 0 X 5 160 Check My Work -60 0
- Case Study Controlling inventory is one of Wheeled Coach’s toughest problems. Operating according to a strategy of mass customization and responsiveness, management knows that success is dependent on tight inventory control. Anything else results in an inability to deliver promptly, chaos on the assembly line, and a huge inventory investment. Wheeled Coach finds that almost 50% of the cost of every ambulance it manufactures is purchased materials. A large proportion of that 50% is in chassis (purchased from Ford), aluminum (from Reynolds Metal), and plywood used for flooring and cabinetry construction (from local suppliers). Wheeled Coach tracks these A inventory items quite carefully, maintaining tight security/control and ordering carefully so as to maximize quantity discounts while minimizing on-hand stock. Because of long lead times and scheduling needs at Reynolds, aluminum must actually be ordered as much as 8 months in advance. In a crowded ambulance industry in which it is the…Case Study Controlling inventory is one of Wheeled Coach’s toughest problems. Operating according to a strategy of mass customization and responsiveness, management knows that success is dependent on tight inventory control. Anything else results in an inability to deliver promptly, chaos on the assembly line, and a huge inventory investment. Wheeled Coach finds that almost 50% of the cost of every ambulance it manufactures is purchased materials. A large proportion of that 50% is in chassis (purchased from Ford), aluminum (from Reynolds Metal), and plywood used for flooring and cabinetry construction (from local suppliers). Wheeled Coach tracks these A inventory items quite carefully, maintaining tight security/control and ordering carefully so as to maximize quantity discounts while minimizing on-hand stock. Because of long lead times and scheduling needs at Reynolds, aluminum must actually be ordered as much as 8 months in advance In a crowded ambulance industry in which it is the…Assume you are the manager of a shop that assembles power tools. You have just received an order for 55 chain saws, which are to be shipped at the start of week 8. Pertinent information on the saws follows: Item Lead Time (weeks) On Hand Saw A B C D E F 2 1 2 2 1 1 2 Gross requirements Scheduled receipts Projected on hand Net requirements Planned order receipt Planned order release Ĉ E(3) & E(2) LT = 1 week Lot size: Lot-for-Lot 15 10 5 65 20 10 30 Skip Extension Tip: Double click to open in new tab Show Transcribed Text Develop the material requirements plan for component E using lot-for-lot ordering for all items. (Leave no cells blank - be certain to enter "0" wherever required.) Components A(2), B(1), C(4) E(3), D(1) D (2), F(3) E(2), D (2) Beg. Inv. 1 2 3 190 5 210 6
- Shown below is a partially completed MPS record for ball bearings. Part 2 a. Develop the MPS for ball bearings. (Enter your responses as integers. A response of "0" is equivalent to being not applicable.) Item: Ball bearings Order Policy: 500 units Lead Time: 1 week Quantity on Hand: 400 Week 1 2 3 4 5 6 7 8 9 10 Forecast 550 350 350 450 250 300 250 350 400 350 Customer orders (booked) 300 350 250 300 150 150 150 150 100 50 Projected on-hand inventory enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here enter your response here MPS quantity 500 enter your response here enter your response here enter your response here enter your…2. Demand for Quiggly Pops (QP) follows an up and down pattern over the four quarters of a year, with peaks in the spring and winter months when special promotions are held. Production is handled by a highly-skilled local workforce during a regular 40-hour week (i.e., overtime and subcontracting are not used). The company likes to zero out its inventory at the end of a year so that it can start fresh each January. QP currently uses a level production strategy, but would like to evaluate other options. Create a production plan and calculate the cost of the plan for each strategy listed below. Which plan would you recommend to QP? (a) Level production (b) Chase demand Quarter Demand Forecast 1 70,000 2 100,000 3 50,000 4 150,000 Beginning workforce 40 workers Production rate per worker 1250 units/quarter Regular production cost $10 per unit Hiring cost $500 per worker Firing cost $500 per worker Holding cost $1 per unit per quarterScatter Diagrams and High-Low Cost Estimation Assume the local Pearle Vision has the following information on the number of sales orders received and order-processing costs. Month Sales Orders Order-Processing Costs 3,000 $ 165,400 1,500 100,750 4,400 241,400 2,800 163,800 2,300 139,550 1,200 86,200 2,000 125,000 1 2 3 4 5 6 7 Required (a.) Use information from the high- and low-volume months to develop a cost-estimating equation for monthly order-processing costs. $ 28,000 + $48.5 X (b.) Plot the data on a scatter diagram. Using the information from representative high-and low-volume months, develop a cost estimating equation for monthly order-processing costs. If needed, an Excel worksheet is provided in the following link in order to create the scatter diagram: Scatter_Diagram $ 15,000 X+ $53.14 X X