Project Assignment | Essay Help Services

Student’s Name
Student’s ID
Course Name/ Code	Operations Management/ BUS 309
Instructor	Dr. Elarbi Elkaroui, Dr. Mohamed Dhiaf & Dr. Ulas Olzen
Semester	Spring 2020
CLOs as per the Syllabus	CLO. 4, 5 & 6

 

 

 

 

 

 

 

    

 

 

 

 

 

 

 

 

 

 

Note: This Assignment accounts for 40% of the Student Final Grade.

 

 

 

 

 

 

 

 

Case Study: Demand Forecast, Inventory Management and Capacity design at Pharma.Tech

 

Pharma.Tech is a company specialized in manufacturing and selling paramedical equipment varying from needles to medical uniforms worn by medical or laboratory staff. Currently and under the effect of the coronavirus outbreak, the company is planning to adjust its annual production of medical face masks to the drastically changed market demand. While the World Health Organization is recommending everyone to wear medical-grade masks in public, such  masks are difficult and expensive to make. Therefore, the company should accurately predict the total market demand of these type of masks. Moreover, the prices for such items are highly regulated and knowing that the storage cost of the medical face masks is about 60 to 80% from their total cost, the company should manage its inventory while keeping its total inventory cost at minimum. As the operations manager of Parma.Tech you are responsible for providing a plan to accurately forecast the future demand of medical face masks, then manage optimally the company stock level and propose direction regarding the company capacity design in order to improve its productivity.

 

Part I: Demand Forecast

As the company operations manager, you want to be certain that enough drivers and vehicles are available to deliver orders promptly and that they have adequate inventory of face masks in stock. Therefore, you want to be able to forecast the demand for deliveries during the next period (period 11). From the records of previous orders, management has accumulated demand data for the past 14 years.

 

Questions:

1. Compute the demand forecast for period 15 using the Simple Moving Average of order 1, 3, and then 5.
2. Compute the demand forecast for period 15 using the weighed moving average of order 3 (the weights are 6, 0.3, and 0.1 from most recent period).
3. Compute the demand forecast for period 15 using the exponential smoothing with alpha equal to 0.3 and F₁ = 2500 Masks.
4. From the data in your table and your knowledge regarding the pandemic situation that affected the world, can you guess which forecasting method is reliable? Justify your guess.
5. Using the MAD Criterion, which forecasting method is the most accurate.

Part II: Inventory Management

In the following, you need to manage the stock level of the company with respect to some costs that your team already estimated. The team report states that for one order made, the company should pay 20 AED as clerical costs and 30 AED as packing costs. It is stated also that the company spends 10 AED to produce one mask and that 80% of that corresponds to the cost of keeping one mask in stock for one year. With this information at hand you will manage to meet the annual demand for year 2021 and which corresponds to the demand forecast for period 15 (with the most accurate method in method)

 

• If the order quantity is 20% of the annual demand, Determine the ordering, holding, and total inventory costs for that order quantity.

 

 

• If the order quantity is 50% of the annual demand, Determine the ordering, holding, and total inventory costs for that order quantity.
• Can you tell if the order quantity, used in the previous question, is the optimal order quantity or not (that minimize the total inventory cost)? Explain why.
• Using the EOQ model, Determine the optimal order quantity.
• How many orders will be placed per year using the optimal order quantity.
• Determine the ordering, holding, and total inventory costs for the optimal order quantity.

 

Part III: Capacity Design

Pharma.Tech is planning to expand its production capacity, to meet the growing demands of 2021 and later, by opening a new plant to produce its high selling products (the medical face masks) by using mass production processes for the mass market. The manufacturing team is discussing the potential layout options for the new factory. As the advisor for the company, answer the following questions.

 

1. Which layout type is most suitable for the new factory? Justify your choice.
2. Discuss the advantages and disadvantages of your proposed layout compared to another alternative layout type in terms of demand volume, flexibility, labor skill, and equipment requirement.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Student’s Name        : _______________________________     

Student’s ID             : _______________________________

 

 

ANSWER SHEET

 

 

 

 

 

 

 

 

Copy and Paste, here,  the table

from the Excel file (sheet: save the data)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Date			Time:			Total Weighted Mark:
								40

Student’s Name & ID
Student’s Name & ID
Student’s Name & ID
Student’s Name & ID
Course Name/ Code		Consumer Behavior / MKT 301
Instructor		Dr. Mohammed Ananzeh,
Semester		Spring 2020
CLOs as per the Syllabus

                                 

 

 

 

Note: This Project accounts for 40% of the Student Final Grade.

 

 

 

 

 

 

 

 

 

 

Project Task

 

You have to analyze all questions mentioned below, also you have to respect the working guidelines given below and the submission date.

 

Working Guidelines for Project

 

1. Project Structure:

 

It is recommended that your project report have the following structure in the order provided here.

 

1. Title page

 

The students’ details should be filled in the cover letter provided.

 

2. Abstract / Executive Summary

 

The Abstract consists of the project title and about half a page concise summary containing the scope and results of your study.

 

3. Table of Contents

 

Table of contents should contain titles and page numbers for the main sections and subsections of your report. The table of contents should also include entries for any appendices in your report.

 

4. Report Body

 

This is the central and main part of the project which contains the actual work done during the project.  The main requirement is that you need to structure the report so that it is clear and structured in a way that makes sense. Grammar and spellings count.

 

5. Conclusions

 

The project’s conclusions should list the things which have been learnt as a result of the work you have done.

 

6. References

 

You are responsible for appropriately citing material and methods that you use. Give references for the data collected from a text book, a magazine or a website identifying its sources while using the appropriate form. In the references section, references should be in a numbered list, ordered alphabetically by the last name of the first author.

 

 

 

 

 

 

1. Project Submission:

Project submission date is 20/5/2020.

In addition to the hard copy, students are required to submit the report in soft copy also through the TurnItIn system which is available online at www.turnitin.com. Every student must have a TurItIn account. High “Similarity Index” will result in low marks for the report.

 

Q 1:    Select 3 companies that produces several versions of the same product under the same brand name. Visit the firm’s Web site and prepare a list of the product items and the benefits that each item offers to consumers. Are all of these benefits believable and will they persuade consumers to buy the different versions of the product? Explain your answers.

Q2. Discuss and evaluate the social changes in the last 100 years. Consider global events such as the two world wars, the global recessions of the 1930s and 2008, technology advancements, and changes in work−life balance. What has influenced changes in society over time, and how has family as a social institution influenced this change? Please provide examples.

 

Q3. You are the owner of two furniture stores: one catering to upper-middle-class consumers and the other to lower-class consumers. How do social class differences influence each store’s: (a) product lines and styles, (b) advertising media selection, (c) the copy and communication style used in the ads, and (d) payment policies?

 

Q4.

1. Find five ads promoting green products or activities and explain whether you believe each one is effective or not.

 

1. How can marketers of the following products use the material presented in this chapter to develop promotional campaigns designed to increase market share among African American, Hispanic, and Asian American consumers? The products are: (a) iPods, (b) ready-to-eat cereals, and (c) designer jeans.

 

Q5

1. The key characteristics that influence buyer behavior toward new products are perceived risk, media influence, social characteristics, and demographic characteristics. Imagine that you are planning to purchase a brand new luxury motor vehicle, and explain how each of these factors would affect your purchase decision. Please use examples to support your responses.
2. Identify a product, service, or style that was recently adopted by you and/or some of your friends. Identify what type of innovation it is and describe its diffusion process up to this point in time. What are the characteristics of people who adopted it first? What types of people did not adopt it? What features of the product, service, or style are likely to determine its eventual success or failure?