Operation Management, business and finance homework help

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Business Finance

Description

Read “Space Age Furniture Company” in Chapter 9 of your text. Respond to the following and include any Materials Requirement Planning (MRP) calculations:

  • Develop an MRP for Space Age Furniture Company using the information in the case including the production of sub-assemblies in lot sizes of 1,000.
  • The lot size of 1,000 for sub-assemblies has produced a lumpy demand for part 3079. Suggest ways for improvements over sub-assemblies in lot sizes of 1,000.
  • Analyze the trade-off between overtime costs and inventory costs.
  • Calculate a new MRP that improves the base MRP.
  • Compare and contrast the types of production processing—job shop, batch, repetitive, or continuous—and determine which the primary mode of operation is and why.
  • Describe ways that management can keep track of job status and location during production.
  • Recommend any changes that might be beneficial to the company and/or add value for the customer.

The final case study should demonstrate your understanding of the reading as well as the implications of new knowledge. The paper should integrate readings, scholarly sources, and class discussions into work and life experiences. It may include explanation and examples from previous events as well as implications for future applications.

The purpose of the final case study is for you to culminate the learning achieved in the course by describing your understanding and application of knowledge in the field of operations management.

Writing the Final Paper
The Final Paper:

  • Must be 10 to 12 double-spaced pages in length (not including the title and reference pages) and formatted according to APA style as outlined in the Ashford Writing Center.
  • Must include a title page with the following:
    • Title of paper
    • Student’s name
    • Course name and number
    • Instructor’s name
    • Date submitted
  • Must begin with an introductory paragraph that has a succinct thesis statement.
  • Must address the topic of the paper with critical thought.
  • Must end with a conclusion that reaffirms your thesis.
  • Must use at least five scholarly sources.
  • Must document all sources in APA style, as outlined in the Ashford Writing Center.
  • Must include a separate reference page, formatted according to APA style as outlined

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Explanation & Answer

Attached.

Running head: SPACE AGE FURNITURE COMPANY

Space-age Furniture Company
Student’s name
Institution affiliation
Date of submission

1

SPACE AGE FURNITURE COMPANY

2

Space-age Furniture Company
Introduction
The space age furniture firm manufactures cabinets, and tables that hold portable
televisions and microwave ovens. The products are made with various features and in various
sizes, but basically they all follow the same assembly and production operations. Two products
produced by the firm i.e. the Gemini television and the Saturn microwave stand have some part
with the no. 3079 that needs to be machined on a specialized lathe that is used to only make that
part. The space age firm began using the MRP system that helps it to reduce inventories greatly
while making improvements based on in-time deliveries. This firm had done an estimate of $
1.25 cost of storing each of the Geminis while that of storing each Saturn was estimated to be $
1.50 weekly. This cost was based on the fact that these products are not shipped immediately.
The following is the master schedule for producing the two products for a six weeks timeline.

Saturn
Gemini

1
300
600

2
400
400

Master schedule
Week
3
400
700

4
600
500

5
300
400

6
300
600

The part 3079 has two main different subassemblies that include the no. 435 used on the
stand for Gemini TV and no. 257 used on the stand for the Saturn microwave. One 3079 part is
used for each sub assembly while each subassembly is applied on each of the end products. This
part 3079 may be manufactured in any quantity as the lathe used in making it does not have any
other use. Space age has thus decided to make the subassemblies in minimum numbers of 1000
per production. The paper aims at developing an MRP for the space age manufacturing firm by
applying the information provided in the case study including the manufacturing of

SPACE AGE FURNITURE COMPANY

3

subassemblies in 1000 lot sizes. The 1000 lot size production of subassemblies has created a
lumpy demand of the part 3079. The paper will also provide a suggestion on ways of making
improvements towards the production of the subassemblies in 1000 lot sizes. at the same time it
will analyze the tradeoff between inventory costs and overtime costs. a new MRP to improve the
initial MRP will be reviewed too along with comparison and contrasting of production
processing types together with a determination of the primary operation mode and a reason for
that. Finally, the paper will provide a discussion on the ways of keeping track of the job status
by the management and location at the time of production. Changes that may be beneficial to the
firm and / or increase value for the customers will also be recommended.
1. MRP for the space age furniture firm
As per the information offered in the company case there exists two subassemblies that
are different in the company. The first is the no. 435 used on the stand for Gemini TV and no.
257 used on the stand for the Saturn microwave. One 3079 part is used for each sub assembly
while each subassembly is applied on each of the end products. Based on this information it is
thus important for one to understand that these subassemblies are an important part of the
process of production. This means that the first step involves including them in the MRP.
Considering the case the MRP that suits the space firm to reduce the high work load performed
by Ed is as follows; it is the system that is created so that it computerizes the inventory control to
generate the details automatically. It also creates a system of product planning whose
com...


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