Construction, Cost, Economics 1046 Words 4 Pages In the first day of the simulation, I learnt that when thrown into the water, I don't get nervous. Using excel with predicted demand in one column and the sum of the predicted demand based upon the lead-time in the next column, you can easily predict the correct reorder point and reorder quantity for any particular point in time. We bought more reorder point kits and sold it for. Although interest did not seem to have a significant influence on overall earning, itdid have a noticeable impact on our rankings when dealing with large sums of capital and close team competition. It was not effectively processing items through station 2 and was exceeding the utilization of all stations in the production process. This same process can be used whether demand is growing or shrinking.
Simulation software is used widely to design equipment so that the final product will be as close to design specs as possible without expensive in process modification. Another big piece was demand changes. In addition to this factor, we thought that buying several machines from different stations would decrease our revenue in the following days. Students can also learn to rely to heavily on technology. If your demand is stable, it is pretty simple to calculate the reorder point and order quantity to avoid stockout. Since adding the second board stuffing machine we haven't had any orders out past the quoted lead time - about. For example, if you want to know the demand required for the next 3 days lead-time starting on day 105.
And then we saw the final standings, and we had won. Put more simply, you can calculate the units required by adding the demand on the days considered. There was a substantial decline in arriving orders during the same time period. Trend projection and regression analysis models will be used to forecast the future demand as the growth of the demand increases at a lower level, increases to a higher level, and then decreases. First of all, we purchased a second machine from Station 1; however, we could not think Station 1 would be a bottleneck process.
Moreover, we bought two machines from Station 2 because; it would be better idea to increase our revenue more than Station 1. In order to be successful they needed to maximize utilization of every stage of the process from inventory control to shipping. Group 2 was a two-way split. As we progressed through the simulation we came to the realization that the consensus. Little Dashboard monitors your factory and emails you up-to-date results.
So we purchased a machine at station 2 first. Real world technology changes at a faster rate than the classroom technology. We knew that if we were going to buy a fifth machine we should do it as soon as possible to maximize the return on investment. In two days, we spend a lot of money on kits so we realize we only needed two machines at station 2 and 3. Anonymous read the assignment including 10 poins under important considerations and read Hints on Littlefield. So we tried the 5-way split thinking each job would be split equally among the five machines. The action and reaction of supply and demand is best if allowed to be naturally forming.
For example with the current number of machines will you make the leadtime requirement for contract 2? A linear regression of the day 50 data resulted in the data shown on Table 1 attached below. This quantity minimizes the holding and ordering costs. To clarify, for day 1 you are saying in column M you completed 6 contracts. We thought we might finish in the top five, but not first. The average lead time declined to under a half a day during factory days 69 through 76.
Words: 2674 - Pages: 11. The few sections of negative correlation formed the basis for our critical learning points. Our strategy was to stay within the same working capital as the other two teams so that we all looked like we had a shot of winning the game. We quickly moved to avoid stock outs. The frame size for the two simulations was set at 930 bytes. Apartment, Demand curve, Economic equilibrium 1086 Words 6 Pages April 8, 2013 Group Report 1: Capacity Management The following is an account of our Littlefield Technologies simulation game.
From the very get go we knew that our output was lower than demand. Read the cases and the assignment very carefully including the 10 points under important considerations. Finally it did not have a contract negotiated with customers that maximized the price the market was willing to bear given taking into account the order lead time the customers required. Littlefield is a discrete event simulation. Thus, at the beginning, we did not take any action till Day 62. Station 2 never required another machine throughout the simulation. As we have more data being provided, we ranredo regression analysis constantly to forecast the orders.
In a team of five people, I was the Team Physician. Important Takeaways We have learned several important points from the Littlefield simulation. In class, Art gave us the data and we had a week to play with it before the simulation actually started. Stage 4- We realized on day 125 out of 390 days that we could plan how and when we would purchase kits for the rest of the entire game and then sit back the entire last week and wait for the results. Krishan Soni '08 Joint degree candidate, Yale Medical School We did a short factory simulation, called the Littlefield Simulation, in the Operations Engine class taught by Art Swersey.