Assignment Sample on U20859/U25188 M452 Operations Management
Question 1)
- i) Effective and Efficient
Effective and efficient algorithms are very helpful for solving various optimization problems of an organization. In this context it is very important to say that the effectiveness and the efficiency of an organization is inter-dependable. Therefore it can be said that the effectiveness of an organization depends very much on the efficiency of employees. The efficiency of workers helps to enhance the effectiveness of the organization.
- ii) Effective and Not Efficient
Efficient means doing something in a proper way. On the other hand, being effective is doing the correct things. In the context of manufacturing industries it can be said that every organization wants to maximize their profitability by using various techniques. An organization can be not efficient for doing something but they can be effective in doing a particular thing.
iii) Not Effective and Efficient
This is one of the most important concepts. An organization can be efficient in doing something or producing something but there can be hardly any effectivity in the organization. In this context it is very important to mention that when something is effective that means it will produce a particular result “even if it takes some unnecessary resources to do so” (Britton, 2021). On the other hand, efficiency means it will not only help an organization in producing a result but also helps the organization in doing a job in a very simple way and it also takes very minimal time.
- iv) Not Effective and Not Efficient
Efficiency plays an important role for the effectiveness of an organization. In the context of the manufacturing industry it can be said that the efficiency of workers helps to enhance the effectiveness of an organization. The lack of efficiency in the manufacturing industry reduces the effectiveness of the organization.
Question 2)
a)
i)
| Input data | ||||
| Initial inventory | £50,000.00 | |||
| Initial number of workers | £3,700.00 | |||
| Regular hours/worker/month | £160.00 | |||
| Maximum overtime hours/worker/month | £20.00 | |||
| Hiring cost/worker | £1,600.00 | |||
| Firing cost/worker | £2,000.00 | |||
| Regular wages/worker/month | £160.00 | |||
| Overtime wage rate/hour | £10.00 | |||
| Labor hours/number of laptop | £0.50 | |||
| Raw material cost/laptop | £15.00 | |||
| Holding cost/number of laptop in inventory/month | £3.00 | |||
| Shortage cost/number of laptop/month | £20.00 | |||
| Worker plan (Assumed) | Month 1 | Month 2 | Month 3 | Month 4 |
| Workers from previous month | £3,700.00 | £3,694.00 | £3,693.00 | £3,638.00 |
| Workers hired | £0.00 | £0.00 | £0.00 | £0.00 |
| Workers fired | £6.00 | £1.00 | £55.00 | £0.00 |
| Workers available after hiring and firing | £3,694.00 | £3,693.00 | £3,638.00 | £3,638.00 |
| Regular-time hours available | £5,91,040.00 | £5,90,880.00 | £5,82,080.00 | £5,82,080.00 |
| Overtime labor hours used | £0.00 | £0.00 | £0.00 | £0.00 |
| <= | <= | <= | <= | |
| Maximum overtime labor hours available | £73,880.00 | £73,860.00 | £72,760.00 | £72,760.00 |
| Total hours for production | £5,91,040.00 | £5,90,880.00 | £5,82,080.00 | £5,82,080.00 |
| Production plan | Month 1 | Month 2 | Month 3 | Month 4 |
| Laptop produced | £11,84,000.00 | £11,84,000.00 | £11,84,000.00 | £1,500.00 |
| <= | <= | <= | <= | |
| Production capacity | £11,82,080.00 | £11,81,760.00 | £11,64,160.00 | £11,64,160.00 |
| Inventory after production | £12,34,000.00 | £24,16,900.00 | £35,99,670.00 | £35,99,960.00 |
| >= | ||||
| Demand | £1,100.00 | £1,230.00 | £1,210.00 | £1,304.00 |
| Excess | £1,260.00 | £0.00 | £0.00 | £0.00 |
| Shortage | £0.00 | £20.00 | £500.00 | £0.00 |
| Net (excess minus shortage) | £1,260.00 | -£20.00 | -£500.00 | £0.00 |
| = | = | = | = | |
| Ending inventory | £12,32,900.00 | £24,15,670.00 | £35,98,460.00 | £35,98,656.00 |
Table 1: Calculation of Inventory
(Source: MS Excel)
| “Summary of costs” | “Month 1” | “Month 2”
|
“Month 3”
|
“Month 4”
|
“Totals”
|
| “Hiring cost”
|
“£0.00”
|
“£0.00”
|
“£0.00”
|
“£0.00”
|
“£0.00”
|
| “Firing cost”
|
“£12,000.00”
|
“£2,000.00”
|
“£1,10,000.00”
|
“£0.00”
|
“£1,24,000.00”
|
| “Regular-time wages”
|
“£5,91,040.00”
|
“£5,90,880.00”
|
“£5,82,080.00”
|
“£5,82,080.00”
|
“£23,46,080.00”
|
| “Overtime wages”
|
“£0.00”
|
“£0.00”
|
“£0.00”
|
“£0.00”
|
“£0.00”
|
| “Raw material cost”
|
“£1,77,60,000.00”
|
“£1,77,60,000.00”
|
“£1,77,60,000.00”
|
“£22,500.00”
|
“£5,33,02,500.00”
|
| “Holding cost”
|
“£3,780.00”
|
“£0.00”
|
“£0.00”
|
“£0.00”
|
“£3,780.00”
|
| “Shortage cost”
|
“£0.00”
|
“£400.00”
|
“£10,000.00”
|
“£0.00”
|
“£10,400.00”
|
| “Totals”
|
“£1,83,66,820.00”
|
“£1,83,53,280.00”
|
“£1,84,62,080.00”
|
“£6,04,580.00”
|
“£5,57,86,760.00”
|
Table 2: Summary of Cost
(Source: MS Excel)
| Sensitivity of shortages in the first three months and total cost to unit shortage cost | ||||
| “Unit shortage cost” | “Shortage1” | “Shortage2” | “Shortage3” | “TotalCost” |
| “£”B”£”40 | “£”C”£”40 | “£”D”£”40 | “£”F”£”53 | |
| “0” | “£0.00” | “£2,280.00” | “£1,640.00” | “£6,21,740.00” |
| “5” | “£0.00” | “£2,220.00” | “£1,580.00” | “£6,40,920.00” |
| “10” | “£0.00” | “£2,220.00” | “£1,580.00” | “£6,59,920.00” |
| “15” | “£0.00” | “£2,220.00” | “£1,580.00” | “£6,78,920.00” |
| “20” | “£0.00” | “£20.00” | “£500.00” | “£6,90,180.00” |
| “25” | “£0.00” | “£20.00” | “£20.00” | “£6,92,780.00” |
| “30” | “£0.00” | “£0.00” | “£0.00” | “£6,92,820.00” |
| “35” | “£0.00” | “£0.00” | “£0.00” | “£6,92,820.00” |
Table 3: Sensitivity of Shortage calculation
(Source: MS Excel)
Figure 1: Graphical Representation of sensitivity of Shortage
(Source: MS Excel)
| The plant operates 20 days in a month and eight hours each day. Therefore the working hour in a month will be 20 x 8 = 160 hours. A person can assemble a laptop in 30 minutes and there are 3,700 workers in the company therefore they can be able to make 3700 laptops in 30 minutes.
The workers are paid £20 per hour. The total working hours are 160 hours. Total employee = 3700 Total working hour = 160 hours Then the spending of the company = (3,700 x 160 x £20) = £ 1,18,40,000 overtime: (20 hours x £ 10 x 3700) = £7,40,000 “Annual total cost = Material cost + lost sale cost + regular time labor cost + overtime labor cost + inventory |
|
| “£” | |
| Material cost | 20 |
| Lost Sale | 38 |
| Regular labor cost | 1,18,40,000 |
| Overtime labor cost | 7,40,000 |
| Inventory cost | 50,000 |
| Annual Total Cost | 12630058 |
Table 3: Annual Total Cost
(Source: MS Excel)
- ii)
If the company wants to increase the overtime hours of the worker from 20 hours to 40 hours the company should focus on something. They need to reduce their other costs and focus on increasing their production. In this context it is very important to say that the production cost of increasing the time of bonus can be helpful for increasing the effectiveness of an organization (Chang, and Yoon, 2021). The more time in overtime will be helpful for attracting workers for work more and with the increase in the working hours the productivity of an organization will also be increased. The company needs to think about reducing the production cost and material cost.
b)
The acorn company is going to hire 50 people who will be the seasonal employees of the company. The cost of hiring new employee will be (£800 x 50) = £ 40,000
Then the total cost of the company will be =£ 1, 26, 30,058 + £ 40,000 = 1, 26, 70,058
Marginal cost = change in cost / change in quantity.
= £ 40,000 / 3750 = 10.67
Optimal production will be= 3,750 x 2 x 20 x 12 = £ 18, 00,000
It will be helpful for the organization to maximize their short term profit. With the increase of optimal production the productivity and the effectiveness of an organization increases therefore it
Can be said that with the increase of workers the effectiveness of the organization will also be increased.
The annual cost of the new schedule will be = (50 x 800 + 50 x 1200) = 40,000 + 60, 000 = £ 1, 00,000.
C
i)
The company is thinking of hiring a third party and it will cost the production £26 per unit including the component cost of £20 per unit. Therefore the total cost of the company will be = £ 3750 x2 x 20 x26 = £ 39, 00,000. In this context it is very important to say that the cost of the company will increase if the company chooses to hire a third party for producing laptops. Therefore it is very important for the organization.
ii)
In this portion there are some advantages which help to produce the parametric tests. If the product should create a good impression on the market. For this the productivity of the organization. It is true that non paramedic tests are not require the basic distributed data. However the test has disadvantages of the complete process. Non parametric analysis has the same problem on the process. The non-parametric analysis should not give the exact results it provides the variability differs between the groups. In contrast parametric analysis such as the two sample test and nova in these people can analyze the group with variance. In some software it is simple to access the process. For this, people should do their work easily. For this the work should be done in the proper manner and the big data sets are analyzed in some time. For this the data should be stored in the proper manner. When comparing two or more questionable data sets, it is unavoidable to reach inaccurate conclusions. It’s possible that the groupings are equivalent if you can conclude that they’re distinct. You may have missed the genuine difference if you reached the conclusion that they are identical. Data interpretation is a humble activity, not a ruse. It’s possible that our conclusions are incorrect. Ignorant data analysts are blind to the likelihood of mistakes. This likelihood is estimated by skilled analysts using proper statistical procedures. For the data transfer is much easy. A normal distribution of values, or a “bell curve”, is assumed in parametric tests. For example, the heights are normally distributed in the sense that if the heights of a group of people are graphed, a classic bell curve will appear. Gaussian distribution is another name for this type of distribution. In general, parametric tests are more powerful than nonparametric tests (and require a smaller sample size). When parametric tests cannot be applied, non-parametric tests are used. The majority of nonparametric tests rate the measurements and look for oddities in the distribution. Efficient and green algorithms are beneficial in fixing numerous optimization issues of an employer. In this context, it’s miles very vital to mention that the effectiveness and performance of an employer are interdependent. Therefore, it may be stated that the effectiveness of an employer relies upon loads at the performance of its employees. The performance of employees facilitates to enhance the performance of the employer. A parametric test is typically preferred since it is better at distinguishing between the two arms. In other words, it does a better job of emphasizing the distribution’s peculiarities. Efficient and efficient algorithms are useful in solving various optimization problems of an organization. In this context, it is very important to say that the effectiveness and efficiency of an organization are interdependent. Therefore, it can be said that the effectiveness of an organization depends a lot on the efficiency of its employees. The efficiency of workers helps to improve the efficiency of the organization.
Question 3)
a)
| Low-level-Bill-of-Materials | ||||
| Week_no | Item | opening unit | Closing stock | unit |
| 1 | A | 20 | 40 | 20 |
| 2 | B | 40 | 50 | 10 |
| 3 | C | 20 | 50 | 30 |
| 4 | D | 30 | 60 | 30 |
| 5 | E | 100 | 120 | 20
|
Figure 2: Graphical representation of low level bill of materials
(Source: MS Excel)
Figure 3: Graphical Representation of Simple Level Bill of Materials
(Source: MS Excel)
- b) According to the question, 80 and 150 units of are required in weeks 3 and 8 respectively. The low level coded in this section there are few products in t table which should describe the consumer needs from the organization. For this statement the reader should easily understand the organization’s production line. For this the demand of the product is easily understood by the people. For this the organization should mainly focus on those products which the custom want and also the organization should identify the faults of them which help the organization to generate some more censures. Efficient and green algorithms are beneficial in fixing numerous optimization issues of an employer. In this context, it’s miles very vital to mention that the effectiveness and performance of an employer are interdependent. Therefore, it may be stated that the effectiveness of an employer relies upon loads at the performance of its employees. The performance of employees facilitates the performance of the employer.
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