Management
Operations & Process Mgt

Project description
InstructionTo undertake this assignment you need to download two additional files from Studentcentral, both of which are related to specific digits in your student number.

1.OPM2 Component DataXThis is a Word file. You must download the file where X matchesthe last-but-onedigit ofyourstudent number.

2.OPM2 Weekly Usage Data YThis is an Excel file. You must download the file where Y matches the last digit of your student number.

Example:Student no. 13857264 would download OPM2 Component Data6
andOPM2 Weekly Usage Data4.

The TaskThe supporting Excel and Word files (see above) provide Normally distributed usage data and other key information relating to the inventory management and replenishment of components within a furniture assembly operation.Your task is to analyse and evaluate these data, using your choice of the methods covered in the lectures delivered since Reading Week. Specifically, you are required to:

a)Work out the key replenishment parameters for Item H1.Then, produce a fully-labelled graph of the expected inventory levelfor this component over the first 20 weeks of 2015.

b)Calculate the expected average inventory level (no. units) and value () for each component, during the whole of 2015.

c)Propose a detailed alternative inventory management policy that would help the company reduce its total annual stockholding costsby at least 20%, and quantify the expected savings.

d)Use the weekly usage data for Item H1, along with any other relevant parameters from your work on part a (above), to develop the MRP records for Items H1, K3 and M4over the first 26 weeks of 2015.

NotesAll of the analysis required to achieve the tasks above may be undertaken in Excel. However, you maycarry out theassignment by hand if you wish.You are not
required to provide any more than just briefwritten notes to support your analysis
and results, so no word-count guide or limitapplies.

You must submit your assignment as an Excel spreadsheet, or a Word document,
ora Powerpoint file, or a .pdf file, or as a combination of these things.

WeightingThis assignment represents one half of the assessment within the O&PM strand of the module.It therefore counts towards 25% of the overall mark for themodule.

CriteriaYou will be assessed on the analytical approachadopted,as well as onthecompetencedemonstrated inthe use of relevant techniques.

GuidanceThe materials relating to the teaching sessions in Theme 2(Deliver: Planning &
Control)encompassthe learning required to undertake this assignment. Further
guidance from the tutors will be limited only to clarification of the task.
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Assessment Weightings

Inventory profile chart35% of marks

Average inventory levels and values10% of marks

Alternative safety stock policy25% of marks

MRP records30% of marks

Learning Outcomes Being Assessed

Subject Specific:

Demonstrate an understanding of the issues, techniques and strategies involved in balancing demand and supply.

Cognitive:

Apply a range of qualitative and quantitative techniques in the analysis and evaluation of common problems within the core, value adding functions of a business.

Demonstrate the ability to think critically about a subject, and the ability to interpret quantitative data and qualitative information in context, in order to support business planning and decision processes.

Demonstrate numeracy, analytical and problem-solving skills, and the ability to use spreadsheets to tackle business problems.

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