A SYSTEM SIMULATION STUDY ON THE THREE FAST MOVING PRODUCTS (MARLBORO, C2, VIVA) OF THE COLLEGE VARIETY SHOPPE USING THE MONTE CARLO SIMULATION IN INVENTORY MANAGEMENT EXECUTIVE SUMMARY This study shows how the selected three fast moving products (Marlboro cigarettes, C2, Viva mineral water) move from the current Inventory Management technique of the College Variety Shoppe from its distributors to its warehouse storage to the end user or customer. An excel program and a simulation
Words: 2096 - Pages: 9
Readiness Exercise 2 – Operations Management This operations management (OM) learning readiness exercise (LRE) was developed by Professor Lall with assistance by Najam Hassan, and it will be assessed by our AMBA 640 / AMBA 640 Hybrid Faculty Assistants: Ryan Ismail, Mona Ahmad, Bryan Berthot, Gina DiMaggio, Cami Fawzy, Najam Hassan, Bob Neumeister, Manny Singh and Richard Wagner. The purpose of this LRE is to assess your current knowledge of aspects of operations management and thus
Words: 276 - Pages: 2
Assignment for Integrative Management Thinking IAGE 601_2012_FT/PT1/PT3 |Assignment Name: |《赢》读书报告 | |Assignment Number: |1 | |Teacher: |Zheng Fan范徵 | |Student Name(s): |王晓峰
Words: 300 - Pages: 2
Initial operations strategy Prior to the commencement of the simulation, we examined the 50 days of historical data to glean as much information as we could about the operations. We performed some analysis in Excel and created a dashboard to illustrate various data. Specifically, we regressed the prior 50 days of jobs accepted to forecast demand over the next 2 - 3 months within a 95% confidence interval. The yellow and grey lines represent the maximum and minimum variability, respectively, based
Words: 765 - Pages: 4
1. Bruegger’s maintains relatively little inventory at either its plants or its retail store. List the benefits and risks of this policy. Benfits and Risks: Least investment, Inability to meet high demand, minimal storage facility, high cost of production, easier organization of resources, minimum wastage, high transportation cost, and fresh products can be delivered to the customers. 2. Quality is very important to Bruegger’s. a) What features of bagels do customers look at to judge their
Words: 363 - Pages: 2
MERTON TRUCK COMPANY Answer 1: Decision Variables: X1: Number of model 101 trucks to be produced X2: Number of model 102 trucks to be produced Objective: To maximise operational profit by optimally producing Model 101 and Model 102 trucks Maximise Z= 3000X1+5000X2 Subject to: X1+2X2<=4000 (Total machine hours available per month for engine assembly) 2X1+2X2<=6000 (Total machine hours available per month for Metal Stamping) 2X1<=5000 (Total machine hours available per month for Model 101
Words: 554 - Pages: 3
Sociotechnical systems theory was created by researchers in human relations in the early 1950s. They found the two were important and needed for the effectiveness of businesses could reach higher potential when they focused on having the internal workplace and the external of the business (the customers) all uniform. Sociotechnical systems theory is when organizations are effective. This is broken down into two parts: social and technical. The employees make sure they follow orders correctly are
Words: 710 - Pages: 3
Chapter 1 introduction True-False Questions 1-1 Managers need to know the mathematical theory behind the techniques of management science so that they can lead management science teams. F 1-2 Spreadsheets allow many managers to conduct their own analyses in management science studies. T 1-3 Management science is a discipline that attempts to aid managerial decision making by applying a scientific approach to managerial problems that involve quantitative factors. T 1-4 The discovery of the
Words: 705 - Pages: 3
AGGREGATE PLANNING Aggregate planning is intermediate-range capacity planning used to establish employment levels, output rates, inventory levels, subcontracting, and backorders for products that are aggregated, i.e., grouped or brought together. It does not specifically focus on individual products but deals with the products in the aggregate. For example, imagine a paint company that produces blue, brown, and pink paints; the aggregate plan in this case would be expressed as the total amount
Words: 1508 - Pages: 7
The owner of Chips etc. produces 2 kinds of chips: Lime (L) and Vinegar (V). He has a limited amount of the 3 ingredients used to produce these chips available for his next production run: 4600 ounces of salt, 9400 ounces of flour, and 2200 ounces of herbs. A bag of Lime chips requires 1.5 ounces of salt, 5 ounces of flour, and 2 ounces of herbs to produce; while a bag of Vinegar chips requires 4 ounces of salt, 6 ounces of flour, and 2 ounces of herbs. Profits for a bag of Lime chips are $0.48,
Words: 331 - Pages: 2
